2014 Lender Lists:

The Agents of Door to Door Loans

Door to door loans is another term often used for Doorstep Loans. The Loan Setup Process for these products was previously discussed here and in this post today we will be specifically providing some added insights into the collection agent. This person becomes your first port of call with all such communication and control of the loan throughout its term being managed through them. Agents are self-employed and work in close proximity to their local area. Provident has the largest number of agents within their organisation at 11,000. This shows that they should be able to cover most areas of the UK and they even extend to Ireland.

We previously covered the potential earnings of self-employed Provident and Shopacheck Jobs Here. They work on completing the sales and they follow through with the collections (they may just takeover for an existing customer). Above them, they are controlled by field team leaders. When door to door loans are approved, the agent will visit your home to complete the documentation and hand you with the funds. They then make weekly visits to your home to take payments. Doorstep lenders don’t provide online account servicing through their websites (with the exception of Mutual). Mutual interestingly also offers the chance to receive the collections monthly. Unfortunately, they cover restricted locations only.

Due to the lack of account logins this means that you must speak to your designed agent if you wish to make an early settlement, or to receive a topup or to pose any other account queries. The collection day is usually made on each Friday. This will be at an arranged time that could be changed to suit your working hours. It is not possible to pay them online or by standing order. Unlike most subprime products that can be controlled and received with ease online, a doorstep loan lacks efficiency. These loans remain popular though, for many reasons such as the minimal eligibility requirements, the extended repayment terms etc.