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Doorstep Loans
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Doorstep Loans - Information And
Recommended Lender
Go Straight To The Recommended Lender For Doorstep Loans
See Also: Main Payday Loans Page
See Also: Main Borrow Money/Loans Page
Doorstep Loans - Advice And Information
Doorstep Loans are an interesting alternative to borrowing money online. It is a very specialist market so there are very few companies that offer the service. It requires a huge infrastructure compared to how an online lender operates, because of the network of collection agents required.
The basic idea is that instead of the impersonal online approach, you deal with an agent that comes to your house every week to collect your payments. Don't worry, these are not loan sharks, they are friendly people from your own community who usually work on a commission basis. You get to know them and they are well placed to understand your situation and what you can and cannot afford to borrow.
This personal contact and relationship is really what marks doorstep loans out from all other types of lending, and it is the aspect that is most valued by many customers. The agent calls at an agreed time to suit you and that regular weekly contact makes it easier for you to keep up to date with your payments. The relationship of trust that builds up between you and your agent is one of the reasons doorstep loans are so popular and is why they work so well.
Doorstep Loans - How Much Can I Borrow?
Doorstep loans are much more flexible than payday loans or cash advances, because you can take much longer to pay them back. You can usually borrow from £50 up to as much as £2,500 and pay it back in small weekly amounts over an agreed payments. That is far more money than you can get from any payday lender, and even if it you only borrow a small amount you can repay it over a long time, unlike with payday loans.
Doorstep Loans - Good For Bad Credit
Many people use doorstep loans because they tend to be more available for people with credit problems. Even county court judgements do not need to be a problem with a good doorstep loan company. Doorstep loans tend to be used a lot by people who have had problems getting loans from other lenders.
With doorstep loans you will find that the interest rates can be a bit higher than for a high street lender, but this is quite understandable. If they are lending to a higher risk group of people who have problems getting money elsewhere, they need to charge more to cover their increased risk. They also have higher costs from paying the huge network of agents they need to make the collections. Interest charges are still far lower than for payday loans.
There are very few lenders that offer this service nationally in the UK, so I am recommending one that I think stands out as the most reputable market leader.
Recommended Lenders For Doorstep Loans:
Provident Personal Credit (UK Only)
Provident Personal Credit are the clear leader in the field of doorstep loans. They have been in the home credit business since 1880, which takes some beating. They have more than 1.4million customers at the moment and over 10,000 friendly agents to service those customers. The agents usually come from within the local communities they collect from, so they understand their customers very well.
As a first time customer with Provident Personal you can get from £50 up to £500 to begin with, and up to £2,500 when you are an established customer. While £2,500 may not be a fortune, it is a pretty decent amount, and a lot more than you would get from any cash advance lender.
The agents that handle doorstep loans for Provident Personal do get a commission, but their commission is based on what they collect, not how much you borrow. This is important because it means there is no incentive for them to persuade you to take a larger loan. They will get to know you and give you honest advice about how much you can safely borrow.
An important point about Provident Personal is that their APR rate includes all charges. Once you agree a loan and how much you will pay each week, you can rest assured that there are no hidden charges and that even if you miss payments or take longer to repay your loan, you will still only repay the amount you have agreed. You repayment amounts can never go up, so you have the security of knowing what you will be paying even if your circumstances change. A strong point in their favour is how up front and open they are about their charges and what you will pay.
Doorstep Loans - How To Apply
To find out if you can get a cash loan from Provident Personal Credit, just complete their easy Online Form and wait for them to contact you. You should get an in principle decision within minutes. Take care to fill in your details accurately to prevent any delays or problems.
