To call this type of loan a direct usage loan would not be wrong. Because usually people borrow funds to fulfill their cash requirement may be for their personal uses or some other unwanted sudden expenses, for example cars, furniture, household etc. This kind of loan had many advantages over other debiting schemes. There are many benefits which a borrower can get while opting for this kind of finance like there is no credit check, easy access and short span for the repayment of the debt.
According to a survey almost everyone in UK has a bad credit, and so a bad credit history has become a big hassle in path of borrowing. And so the business of both the debtor and the creditor was going down and hence this no credit check proved to be a boon for them. Generally doorstep loans are provided to fulfill the short term loans, and hence their repayment period is also short. Like any other loan the repayment may be done on next payday, weekly or fortnightly. But the only obligation is that the repayment should be done on the pre decided time otherwise the borrower may be charged with higher rate of interest. As there is no collateral, no credit check, nothing is required for these kinds of loan but only a small piece of paper depicting your income statement is required to be submitted. To strengthen your financial status you can attach some other documents also presenting your current financial position. Although from the creditor's side of the table, your income statement is the most useful thing for him as it clears him the lending risk situation before he approves your application.
Nowadays there are various companies which are there at your service to assist you for a doorstep loan and the procedure is also very much simple. The easy application form is available online. And the advantage of this form is that the applicant can directly get the fund in his bank account. Applicants who are not handy with internet can also apply for the loan over the phone or by personal visit to the provider.