When you don't have a bank account or are struggling with a poor credit history, home collected loans provide you with an alternative way of borrowing money. Doorstep loan companies offer a personalized service where you get to liaise with a local agent rather than a faceless call centre.

These lenders help people who have been declined for credit elsewhere, but they have come under the scrutiny of the Office of Fair Trading (OFT). Ray Watson, director of the OFT's Consumer Credit Group, states, "We are working to improve practices in the industry to protect vulnerable consumers."

How Much Money Can I Borrow from a Doorstep Lender?

People who need fast cash don't need to pass a credit check. It doesn't matter if you've defaulted on past credit agreements, you can still borrow up to £500 over a period of up to 52 weeks. Contrast this with a payday cash loan where the maximum lending term is normally one calendar month.