When searching for a short-term loan, you may have come across the phrases ‘doorstep loan’ and ‘payday loan’. But what do these terms mean, and what’s the difference between the two?
Understanding the difference will help you choose which type of loan is more suitable for you.Payday loans
Some people start struggling for money towards the end of the month and find themselves counting down the days until they get paid again. Payday loans are designed to give you an extra bit of cash to tide you over until your next payday.
Morses Club PLC (LON:MCL) is an established, relationship-driven consumer finance provider offering a range of credit products and delivering exceptional services to customers in the non-standard finance market.