We've now reduced our rate for people living in Scotland which means that you're able to get the cash you need at a much cheaper rate than you may have been able to previously. Our rate reduction scheme allows customers (old and new) to benefit.
10 juLY 2017
All this December we're running a special which allows you to get a loan for just £1 interest.
13 December 2016
Doorstep Loans Limited allows customers to get a loan without leaving the comfort of thier homes. The dorrstep loans industry in the UK can allow you to avail credit at a competitive rate.
10 june 2016
By Jake Smith Director
Many people seek advice on how to handle their payday loans and doostep loans debt situation. They feel that it would be better to settle one loan after another and do away with them; but, it does not always go well. However, there is no need to get scared of the debt arising out of payday loans. There are ways to cope with payday loans, particularly when the repayment date draws nearer and you still find it tough to pay out the loan amount despite receiving your salary. Here are five steps that can help you deal with the debts arising out of payday loans.
1. Assess the need for borrowing and control the cycle of acquiring loans – Many people fall into a debt trap subconsciously and suddenly realise that they are not in a position to afford that particular debt, to begin with. Then, they travel the route of the vicious circle by taking one loan after another to set off one against the other. There are ways of stopping this cycle. Taking out loans constantly is not the proper fix to this issue. It will make you fall deeper into the debt trap. Before applying for the loan, assess the actual need and borrow what you would be able to repay comfortably on your payday.
2. There is no need to panic – One important thing to remember before taking out a payday loan is that it is a means of funding an emergency or a one-off expenditure. Yet, five out of ten people fall on payday loans to take care of essentials such as petrol or food items. Some people try to use payday loans for repayment of other credit. There is no need to panic and struggle with the debt of payday loans. There are thousands of people facing cash emergencies; you are not alone. A payday loan is meant to take care of cash emergencies until your next payday and for amounts that are well within the figures that can be covered by your salary.
3. In case of problems at the time of repayment, settle the amount that you can afford - You can repay whatever you can afford. The collection process of payday lenders has been regulated by the Financial Conduct Authority. Borrowers cannot be forced to repay much more than what is affordable to them. An action plan could be drawn out on taking care of the priority payments, first. New rules by the FCA state that payday lenders cannot roll over outstanding balances more than a couple of times. There can be no more than two attempts at deducting money from the bank accounts of debtors by means of a CPA or a continuing payment authority unless the rollover has been agreed upon.
4. The CPA payment could be cancelled – You have to try and treat the payday loan as a debt of second priority. It has to be settled from the amount of your salary that is left over after you have taken care of priorities such as household bills, living costs, rent and mortgage payments. If you fall short of taking care of these priority payments, you can request a stop for the payday loan repayment of the full amount. When the CPA is cancelled, the payday lender will try collecting the amount next month and you will incur extra interest charges along with bank charges.
5. Think twice before fixing the loan amount – Borrow only that amount which is absolutely necessary to take care of the cash emergency. You have to take control of your debt situation by managing the borrowing cycle. You have to do the utmost by managing the outgoings within your salary amount so that you do not have to borrow exorbitant amounts.
By following these five steps, you do not have to be desperate when you face cash emergencies. You will be a shade closer to managing your financial life a little better and living a life that may be free from heavy payday loan debts. It can be beneficial to get a doostep loan rather than a payday loan in many cases visit this site for more details.