The process of taking out a Doorstep Loan (Sometimes known as Home Collected Credit) is one of the oldest money lending methods in existence. Once you’ve applied and if you’re accepted, loans are brought in cash, straight to your home, with the repayments being made by an agent calling on a regular basis to collect cash. Many companies, including us, will now allow you to pay with your Debit Card too.
Being assigned a dedicated agent within the company as your point of contact adds a level of reassurance to your money lending process. It’s much more comforting than having to phone up a call centre and speak to someone who doesn’t know you or your history – or worse having to deal with an automated system which makes you feel like you’re speaking to a robot rather than an actual human being!
Our agents will visit on a regular basis for a payment but the great thing about taking out a doorstep loan is the level of safety on the loan you take out. It’s always the way, everything happens at once – you’re due to make a repayment on your loan but at the same time the car breaks down and needs a new set of tyres. Worried about that late fee? No need to stress out. Although we require a payment on a regular time scale, we don’t charge late fees. If your circumstances change or anything happens, speak to your agent. You won’t have to pay late fees which essentially get you into more and more debt.
All Home Collected Credit and Doorstep Loan companies operate in different ways but most will allow you to make your payments weekly, fortnightly or monthly to suit your circumstances. If you’re worried about the legitimacy of any company you’re looking to borrow money from, then you should always contact the Financial Conduct Authority (www.fca.org.uk) to check that the company has Authority To Trade.
Remember to make sure you can afford the repayments before you look to borrow any money.
Compare the price of Home Collected Loans or Doorstep Loans in your area by going to www.lenderescompared.org.uk, they’re an impartial website that will compare all the lenders in your area.
Please feel free to leave your comments in the section below. If you have any other questions or would like to get in touch, please email [email protected] or phone us on 01708 755490.
If you’re interested in learning more, check out our website www.cocklefinance.co.uk