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One of the grandview main drawbacks of doorstep loans is the high cost. The fees and interest rates associated with these loans can be very high, and you may end up paying much more than you borrowed.
Another disadvantage of doorstep loans is that they may not be regulated as closely as online loans or traditional loans. This can make a revolving credit line a more cost-effective option than a traditional loan, where the bad borrower pays interest on the entire loan amount regardless of whether they use all of the money.