Doorstep Loan Features

Doorstep Loans Features for People on Benefits

Getting a quick loan these days has become quite easy with all the lenders offering different types of loans, both secured and unsecured. Today, almost anyone can apply for a loan, even people who have a bad credit history.

In the UK, many people live on benefits provided by DSS. These are the people who suffered some kind of disability and are handicapped as a result. This may include people who can’t get a job on account of a physical or mental disability or due to their advanced age, so they have to rely on the government to provide for their basic financial needs.

Unfortunately, DSS benefits are often not sufficient to cover all of their needs, especially when a new, unexpected one happens. This can be anything from an urgent car repair, medical bill, or some other expense that the person doesn’t have the money to cover at that moment.

Several features are associated with this type of short-term, unsecured loan:

  1. First of all, these loans are available to anyone, regardless of their social status. This means that it can be received by employed, unemployed, those with benefits, those without benefits and even those with a bad credit rating.
  2. Since they belong in the “unsecured” family of loans, doorstep loans do not require from a borrower to place anything as a collateral.
  3. Doorstep loans are also short-term loans. As such, you only have a limited time period during which you have to pay the loan back. However, you do have the option of asking the lender for an extension on your repayment period.
  4. Doorstep loans are also not only very easy to apply for and get approved, but they also don’t include a credit check, so even people who have this burden can make use of them.