Texas Payday loans helps when you need between $100 and $1,000 fast that you can pay back on your next payday, or sometimes a later due date can be arranged.
Why Payday Loans?
There are so many reasons you may need the help of a payday loan. Emergencies don’t wait until you get paid again. We all know there are storms in Texas that can leave you with home and yard repairs that you have to make now. You may have a shut-off notice, a broken car, or rent past due. Payday loan help is just a click away. It’s easy.
- There isn’t any application fee.
- No faxing-easy online application.
- The application takes less than 3 minutes in most cases.
- In as little as two hours, cash can be deposited in your checking account.
- Payday Loans considered even with bad credit.
What does it take to qualify for a Payday Loan?
- 18 years or older
- Checking account
What are the Payday Loan repayment requirements?
Payments can be arranged sometimes but typically payday loans are paid back on your next payday.
Aren’t Payday Loans Crazy Expensive?
Not compared to what you could be paying. Look at this chart below to see how payday loans can actually save you money:
The average payday loan is between $300 to $500, however they can be as low as $100 and as high as $1,200. Depending on local laws, fees range between $15 to $30 per every $100 that is borrowed. The total amount borrowed and the fees are typically withdrawn from your checking account on your next payday, but sometimes extensions can be made.
Depending on the amount of the loan and the length before repayment, the APR for Payday Loans range from 547.5% to 999.45%. The larger the loan and the shorter the payback period, the lower the APR. These loans are short term, only meant to be typically 2 weeks. If you annualize other fees just like a payday loan, you will find that the APR of Payday Loans can actually be more expensive. For example, if annualized, and considering a $32 bounced check charge the APR of a bounced check is 2336% for a $100 check. Please see the above chart for more information.
Implications of non-payment, including financial implications (whether fees are charged and/or interest rates are raised):
The interest rate may be raised or a default fee can be charged for not paying your loan on time. We recommend you immediately contact your direct lender if you are not able to pay on time. Each individual lender has their own interest and fees policies. Only your lender can provide you with information about your specific fees and rates.
If the loan is not paid or becomes delinquent, collection attempts are first made internally via phone call and arrangements are attempted. The situation of the borrower is considered and every attempt at a reasonable outcome is considered. If collection is not remedied in this manner, a collection agency may be contacted in an attempt to recover the funds.
Potential impact to users’ credit score:
Payday loan lenders may use a credit agency however in most cases, the borrower’s score is not affected. However, the Lender may submit the borrower’s request for the loan and especially with nonpayment, the lender has the discretion of reporting to the credit agencies, typically Equifax, Experian or Transunion. Lenders may also rely on their own scoring, based on income, ability to pay and the payment history of the borrower with previous payday loans.
Renewal policy information, including if the renewal is automatic and if there are fees associated with the renewal:
Payday Loans are typically required to be paid back on the next payday of the borrower. Please consider carefully if you can afford to budget responsibly and pay the loan back on the required due date. Most lenders allow you to renew or repurchase the loan, but there will be fees associated with the renewal. We do not recommend you get into a cycle of borrowing more and more to pay back previous loans.
If a Texas payday loan can help you, apply here!
What do you have to lose?.