The consumer world is of course now at a stage in time during which most will be abundantly ware of the payday lending industry, whether or not they happen to have made use of the services themselves. However, when it comes to the market for doorstep loans this can be something of a much more grey area to say the very least, though for the thousands each and every day making use of such services nationwide, little could be of greater value.
Of course, it is entirely understandable why some would immediately associate doorstep loans with the stereotypical door to door loan sellers known to plague households and families up and down the country, though in reality the two have next to nothing in common. Indeed, just as is the case with the majority of leading payday lender, those offering doorstep loans offer a truly open service that borrowers are able to come and consider as they please, free from pressure and pushy sales pitches across the board.
So, once this particular area of confusion has been cleared up, the time arrives to identify the differences between the conventional payday loan and the doorstep loan. In truth, the two share the vast majority of quality and attributes across the board, beginning with the incredibly simple application process, small sums of cash on offer, loan terms totaling no more than a few weeks and no credit check being required. However, the key and most important difference between the two comes in relation to the payout and repayment of the loan amount, as while the payday loan uses instant bank transfers, doorstep loans keep things even simpler with cash.
Following successful completion of the application, the lender will hand-deliver the cash to the door of the borrower the very same day, or on any other day on request at a time to suit. What's more, repayment is also arranged in the form of doorstep collections exactly when best suits the borrower, which can take place either as a one-off payment of the full owing amount or a series of easy installments. Needless to say, for a millions and one reasons and particular for those with mobility problems, receiving the payout be way of cash in hand is of truly epic convenience.
What's more, not only is it not essential to own or operate a bank account to take out doorstep loans, but in some instances the lender will also not consider employment in an official capacity a prerequisite. The reason for this comes by way of the fact that all that really matters is the ability to repay facilitated by regular income - income that could come in the form of savings, benefits or a myriad of other examples.
In short, lack of employment does not in fact mean lack of income, which is something providers of doorstep loans will often take into consideration in a rather exception to the norm.
All in all, in a world where each and every consumer across the nation - employed, unemployed, disabled, receiving benefits, housebound etc. - will occasionally need a little assistance from time to time, it is comforting to know that there are certain providers out there taking a good look at current services and finding ways to adapt them with an open mind, so as to open up the possibilities to more with genuine cases and needs than ever before.