With the number of loan products in the market, you might be spoilt for a choice on which one to go for especially when you are pressed for cash and need money for like yesterday. You find yourself in a dilemma and your back against the wall trying to rack your mind on which loan product you should go for. Well, if you are pressed for cash and you have a bad credit rating, you might consider going for doorstep loans. While doorstep loans might not, as a matter of fact, controversial or popular like payday loans, there is no denying the fact that the loan product has been warmly received by thousands of UK citizens due to its numerous benefits. So are you wondering why you should go for doorstep loans as opposed to say a payday loan? Here is why.
- The state of your credit score is of no consequence
It is a fact of life that thousands of borrowers get turned away whenever they apply for a loan because of their poor credit scores. This is not the case when it comes to doorstep loans. Doorstep loans do not care about the state of your credit score and therefore you can go for this loan product with the assurance that your application will be approved.
- Doorstep application
The genesis of the name of this product is informed by the fact that you apply for the loan from your home and the cash delivered to your doorstep. It is the perfect loan product for the aged, the disabled or simply people who have no time to visit various lenders to apply for a loan. An urgent of a given lender will come to your home, explain the terms of the loans, the requirements and also deliver the cash to your door once the application is approved.
- You don’t need to disclose reason for applying the loan
Traditional lenders require that you disclose the reason or purpose for which you are applying for a loan. This is not the case when you apply for a loan. No one will ask you to state the reason for which you are applying for the loan and therefore you can utilise the loan amount however you wish.
- Same day approval
Doorstep loans are same day loans which essentially means that the application of your loan is processed within the same, approved within the same day and money delivered to your doorstep within the same day.
- No paper work is necessary
Do you decry the rather long and complex application process that is the hallmark of traditional loans? Well, doorstep loans take a different approach. You don’t need to fax, mail or send to the lenders hard copies in order to be approved for the loan. The lenders simply ask for primary details to ascertain that you qualify for the loan and go ahead to process the loan within a couple of hours.
- Protection of personal information
Reputable doorstep loan lenders go an extra mile to ensure that the personal details of the borrower are protected and not shared with third parties. You can therefore apply for this type of loan with the assurance that all your personal details will be kept confidential.
In light of the above, there is no reason as to why you shouldn’t consider applying for doorstep loans especially if you have bad credit and need cash like yesterday. The benefits of doorstep loans without a doubt outweigh the risks. You simply need to apply for what you need and exercise financial prudence and everything will be okay.