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Londra'daki Param: Londra'da Kapı Önü Krediler

13 Kasım 2020

Londra'daki Param: Londra'da Kapı Önü Krediler

Doorstep loans are popular in many areas of London But, it has to be said that doorstep loans are perhaps more popular in some London boroughs than others. People living in deprived areas are more likely to take out a doorstep loan.

When you find yourself in need of almost instant credit, it is often hard to find a lender who can help you. Not all borrowers need to gain access to large sums of money. 

If you are thinking about taking out a doorstep loan, what are the factors you should consider before you sign on the dotted line?

What You Need To Know About Doorstep Loans In A Nutshell

Doorsteps loans have been around for a long time and do have their place in society. However, borrowing money on your doorstep is not right forall of us.

If you are planning to not pay the money back, you should never use doorstep loans. Whenever you borrow money, it is important to realise that you are legally responsible for the loan. All lenders will pursue you through the courts or put pressure on you to pay the money back.

Can I use doorstep loans as a student loan? Many young people do still struggle to find the money for further education despite government initiatives. Doorstep loans are not large enough to be considered as student loans. Also, the interest rates differ. Interest rates on student loans are much lower than doorstep loans. You also normally need to be over 18 years old to take advantage of doorstep loans.

When you need to borrow a larger sum of money, you will find doorstep loans are not the right way of borrowing money for you. The interest rate on doorstep loans is higher as you are borrowing a small amount of money. Lenders need to ensure they can continue to provide this vital service. This is often why the interest rate offered on doorstep loans is higher.

Do you not have a regular income? If you don’t have a regular income, you should think twice before taking out any loan. Changes in our economy, mainly down to zero-hour contracts, have made it hard for many to know when they are going to be paid and how much they will receive. One week you may find yourself working 40 hours and the next week you are down to 10 hours. When you are not sure if you can meet the terms of a doorstep loan, taking one out is not a good idea.

But, you should not let that stop you. Instead, discuss your options with your doorstep lender. Even if you have a credit score problem you can often access doorstep loans.

According to leading lenders, many of us who take out doorstep loans are not sure about the terms and conditions. If you don’t feel 100% happy that you understand the lending process and the terms, you should never take out a loan. Never take out a loan unless you are happy with terms and conditions. 

How I Should Use My Loan? 

How you use your loan is up to you. Borrowers use them in man different ways. You can use doorstep loans to pay for an unexpected bill or maybe buy some new clothes. Some use small loans to “tie them over” until they get their next pay package. In fact, they are using doorstep loans more or less in the same way as payday loans.

If you are considering borrowing a larger amount of money as a doorstep loan, you should make sure you use the money in the right way. In other words, don’t waste the money. Once you have a little bit of money in your pocket, it is easy to go out and blow it on something like a meal with a family.

Instead of using the money in a silly way, you should spend it on something sensible. How about investing in a new household appliance which can save you money in the long run?

Above all make sure that you can afford the repayments and don’t borrow money unless you really have to.