Some time such circumstances come in the life that taking financial assistance becomes very necessary because of the urgent financial crisis
. It happens with salaried people very often. For these people financial market provides the solution in the form of doorstep loans for their day to day needs by offering small amount. Doorstep loans are designed for meeting the peoples small needs like medical emergency, credit card bills, grocery bills, library bills, debt consolidation etc.
Features:
These financial services are offered for short term to meet the small problems which come just before the payday.
The amount that can be borrowed by the borrower is 100-1500 depending upon their financial condition a period of 14 to 31 days. The money can be repaid at the payday easily.
The borrowed amount is directly deposited into the account and at the due date with the help of a post dated check lenders withdraw the cash from the account.
People with tag like bankruptcy, late payment, CCJs, default etc can also apply for this fiscal aid option. There is as such no barrier over bad credit borrowers.
There is no collateral demand by the lender against the money. These schemes are much unsecured.
Lenders do charge higher interest rate due to the short term nature of the monetary scheme so these cash advances are not cheap. Once the borrower decides to go for doorstep cash advance there are some conditions that a borrower need to fulfill and that are:
Borrower should be a citizen of UK.
Borrower age should be more then 18 years.
Borrower must be working with regular pay check
Borrower should have a bank account.
Applying procedure:
As lenders are now available online so the person doesnt need to go anywhere to have face to face meeting with the lender. The borrower can easily perform some search for selecting the lender. Once the lender is selected then fill out the online application form and avail the financial aid.