Home Collected Loans

Instant LoansIf you’ve never had experience of home collected loans before you may not understand exactly what they are, how they work or whether or not they may be the right option for you.

Also known as doorstep loans, door to door loans, home collected credit or simply home credit, this form of lending is incredibly popular and on this page we aim to explain the basics of what these simple cash loans to your door are all about.

What Are Home Collected Loans.

Home collected credit is designed with everyone in mind and represent one of the most accessible forms of personal finance in the UK today. Defined as Short term cash loans that are delivered to your door and the repayments are collected in the same way, they are small cash loans that are arranged face to face in your own home with a local agent, delivered to your door by the same agent and the repayments organised into fixed affordable instalments that can be spread over many weeks and then collected weekly, again by the same agent.

Who Can Apply.

Everyone is free to apply … homeowners, tenants or living with friends/family, working full time. part time or even retired or on benefits, good credit history or bad … even defaults, arrears, CCJs or previous declined loan applications are all OK.

Home collected doorstep cash loans are offered on the applicants current situation and their ability to meet the loan repayments – we look to the future rather than what may have happened in the past, each applicant is assessed on their own merits.

How Much Can You Borrow.

Doorstep loans are small cash loans, you can therefore borrow any sum of money between £50 and £500, although some companies are now advertising a maximum of £1,000 – if you require a larger loan click here.

How To Apply.

Home collected loans are easy to apply for – a very simple 3 stage and fast process:

   1: Fill in the very simple online application form – should only take you a minute or two.

   2: Meet your friendly, local agent, to discuss, understand and agree your loan.

   3: Receive your doorstep loan – often there and then, in cash or on a handy visa card if you prefer.

How Much Does It Cost.

The cost of home collected loans varies depending on how much you wish to borrow, you can take out your loan over any term up to the lenders maximum term (often 52 weeks) to suit you.

The interest rates applied to these doorstep loans will generally be higher than that for other types, mainly due to the shorter repayment period, smaller size of loan and the fact they are often used as loans for people with a bad credit history.

Interest rates will vary depending on the doorstep lender but be aware that rates may be high so make sure you study the cost closely and take advice before making a decision if a home collected loan is right for you. Interest rates and the overall cost of the loan should always be quoted in advance … pay close attention to this quote and make sure you are happy with everything before you proceed. You are also able to compare the cost of home collected loans and other cash loans that are available in your area at www.lenderscompared.org.uk.

How To Repay.

Repaying your doorstep loan is really simple too – your own local agent will call to collect your repayments from you each week or fortnight on a day and at a time agreed and convenient for you.

All the agents are friendly local people who are easy to talk to and understand our loans. The majority  live in the communities they serve and many of them were customers before becoming agents.

Agents are often paid commission on how much money they collect, not how much they lend. So it’s in their interest to make sure you only borrow what you can afford to pay back. Check that this is the case with any company you decide to approach.

Are They Safe.

Rest assured in the fact that millions of people in the UK have used the services of a doorstep lender but before you even consider a home collected loan or a doorstep loan from anyone always ask to see the lender’s licence or other authorisation. If they don’t have one, they are operating illegally, so don’t use them – we stress – don’t, under any circumstances, use them!

The Consumer Credit Public Register lists everyone with an OFT licence as well as everyone who has applied for one or has had one taken away or suspended. It’s free to get basic information from the register, including trading names and the activities for which a business is licensed. To search the public register, telephone 020 7211 8608 between 9.30am and 4pm Monday to Friday.

ALL responsible lenders, will be members of the UK’s Consumer Credit Association and will abide by their Code of Practice and Policies, which you can view on the CCA website at http://www.ccauk.org/information-for-consumers/.

Alternative Loans.

Doorstep loans may not be the right solution in every case – read more about these Doorstep Loans For Bad Credit or check out our Alternative Loans section for other possible alternatives. Click Here >>>

Other loans and solutions are available too so always shop around and seek professional advice before deciding on the right loan for you and your circumstances.