Doorstep loan providers may be able to help, even when you’ve been declined for credit elsewhere. The banks have rejected your loan application because you have a bad credit history, a low income or you’re unemployed and claiming state benefits. This is because they use credit scoring to help decide whether they should lend you money or not. Provided that you’re able to afford the repayments, you may be able to get a doorstep cash loan.
How Doorstep Loan Providers Help You Raise Urgent Cash
Reputable doorstep loan companies operate completely differently to the major high street banks. They’re prepared to lend new customers up to £500, regardless of how personal credit has been managed during the last 6-years. You can also get doorstep credit if you’re currently unemployed and on state benefits.
Just submit your application online and they’ll provide a decision in principle within just minutes. If you’d prefer to speak to an agent at your own home, this can normally be arranged within 72 hours. Bad credit, CCJs and low income aren’t a problem provided that the weekly repayments are affordable to you.
Affordable Doorstep Cash Loans from Provident Personal Credit
Provident are currently the leading doorstep loan provider and have been assisting customers for the last 125 years. They boast a 95% customer satisfaction rate. They’re a member of the Consumer Credit Association and believe in responsible lending so they’ll only lend you what you can afford to repay.
Examples of Rates on Doorstep Cash Loans for New Customers:
- A £500 loan over 52 weeks costs £17.50 per week. You’ll pay back £910 at an APR of 272.2%.
- A £250 advance over 31 weeks costs £12.50 per week. You’ll repay £387.50 at 365.1% APR.
Doorstep loan providers offer new customers the chance to borrow between £50 and £500 over up to 52 weeks. Existing customers are offered preferential terms and can get a quick cash advance of up to £2,500 over up to 106 weeks. Payment is collected weekly by a local agent over the next x weeks.
Doorstep Collection Loans from Greenwood Personal Credit
Greenwood specialise in helping customers who’ve already been turned down elsewhere. They provide a weekly home-collected doorstep credit service with the opportunity to spread the cost of repayment over a period of up to 33 weeks. Just submit your doorstep cash loan application online or call 0800 409 6654 for a quick decision.
- A £500 loan over 33 weeks costs £25 per week. You’ll then repay £825 at an APR of 433.4%.
- A £300 advance over 33 weeks will cost you £15 per week. You’ll repay £495 at an APR of 433.4%.
Quaestor RMS, an independent research company, revealed that 83% of existing customers would consider Greenwood Personal Credit once they’ve paid off their current agreement. Both Greenwood and Provident Personal Credit are strictly regulated by the Consumer Credit Act 1974.
Choosing Between Doorstep Loan Companies
An examination of the APR figures reveals that Provident are the cheaper doorstep loan provider. You can also spread the repayments over an extended period of time, especially once you’ve established your creditworthiness. Although doorstep loan lenders are less expensive than payday companies, you should explore the credit union alternative prior to signing up.