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These loans are often marketed as a convenient alternative to traditional loans, but they can be risky and come with high fees and interest rates. This may include your name, address, phone number, employment information, and bank account details.
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Another disadvantage of doorstep loans is that they may not be regulated as closely as online loans or traditional loans. Overall, online loans offer many benefits over doorstep loans, including greater accessibility, faster turnaround times, more flexible eligibility requirements, and lower costs.