In all honesty, applying for loans for those with a less than stellar credit has…
How I came to know of Doorstep loans
The narrative advanced by many doorstep loan lenders is that your credit score doesn’t tell your story. They advance a theory that no person should be denied access to credit facilities because of their credit score status. While high street banks might find this a bit offensive, the truth of the matter is that this very approach has won doorstep loan lenders in the UK a loyal following. These are people who after years of being looked down upon have found something to be optimistic about. They no longer have to worry about the outcome whenever they are applying for a doorstep loan.
I, for one, used to be a doubting Thomas when it came to doorstep loans. I used to call its bluff until one of my erstwhile cousins who had been in a wheelchair for many years became a beneficiary. For as long as I could remember, doing the normal things that most of us are entitled to was a tall order for him. He could barely enjoy outdoor games, go for picnics or even had the pleasure of going to the woods as and when he liked. In other words, he was a stay at home dad who had been laid off as a result of an accident at work.
Entitled to a fixed sum of money monthly, sometimes the going got tough and the need for additional cash unavoidable. However, getting cash advances from mainstream lenders while immobile proved a tad difficult. Most lenders were not willing to come to his home to process the loan and that is when he discovered doorstep loans or what is commonly known as door to door loans. I still remember that chilly evening when he called me telling me that he was considering trying out doorstep loans to meet an immediate financial need.
Considering the fact that at the time I didn’t know any person who had taken out a doorstep loan, I was a bit sceptical and discouraged him. “If you don’t want me to try, then get me 1000 pounds tomorrow,” he retorted. Unfortunately, I didn’t have that kind of money at the time and therefore didn’t have a choice but to endorse his decision. He contacted one of the UK doorstep lenders and surprisingly, a local agent came right to his home, explained the loan packages, the APR applicable and processed the loan within a couple of hours!
I was surprised at how efficient the whole process was! Since then, I have become a big advocator of doorstep loans though I find the rather high-interest rates a bit disturbing.