Texas Payday Loans

In the state of Texas payday loans are legal. There are solid guidelines in place. They allow you to borrow any amount of money via payday loans. There is no cap on this. You get these loans from payday lenders specifically authorized to carry payday loan lending business. The Texas payday loans state law requires these payday lending companies to be licensed. The law does not provide for the interest rate.

You should then mutually agree with your lender on the interest rate you are willing to pay. The APR is also not provided. You can get this loan for a minimum term of 7days and a maximum duration of 31 days. The state laws do not provide for anything.

Texas payday loans lenders have indulged in a practice of getting themselves registered as a Credit Service Organization. Any lender so registered is allowed to charge $10 as the interest rate. The annual interest rate for this loan is 10%. If you borrow $100 for a period of 14 days from a CSO, it will charge $10 as finance charge.

texas payday loans

Texas Payday Loans: Laws & Regulations

The Texas payday loans state law is silent on the issue of rollovers, which means extending your loan. In a rollover you pay the fees without paying the loan amount. The loan amount stands due as such. The option then is open to the parties to agreement to opt or not for the rollovers. Parties are then suggested to have a written agreement. This will save them from any unscrupulous policies of lenders. One characteristic peculiar to Texas payday loans is payday loan lenders are required to display a notice containing the fees schedule and a loan agreement. Lenders are prohibited from splitting or separating the loan to charge separate interest ratse on each separated amount. The law is absolutely borrower friendly in regards to Texas payday loans.

Cash America Pawn

This Texas payday loans provider offers a wide arrangement of financial products and services. These include prepaid Visa, prepaid calling, and Western Union, tax filling services, and check cashing pawn loans and payday loans. They even buy gold. They provide for retail stores as well. They claim them to be America’s largest pawn lending company with over 500 pawnshops. They also have many cash advance stores. They claim to be one of the first companies to raise capital to build a chain of pawnshops. In order to get a short term cash advance you just have to write a personal check and they will directly deposit money to your account. Visit their local branch personally. Give them a call at 512-326-5028 or visit their website at www.cashamerica.com.

Rent a Centre

This Texas payday loans company offers a large array of financial services and products from check advances to check cashing, and money orders to money transfer, and also tax advice. Besides this they maintain a big sales store for different items. Their application procedure is simple. You can apply online by providing minimum information about yourself. You can also use their services by personally visiting their branch office nearest you. Give them a call at 512-444-6501 or visit their website at www.racfinancialservices.com.

The Money Box

This Texas payday loans lender offers a wide assortment of services such as Money Box quick pay, Money Gram money orders, Selex Visa prepaid cards, and check cashing services. They claim to have been located in more than 66 locations in Texas and more on the way and they say they have at least one near you. They just require from you, your valid identification. All you have to do is fill an easy online application form. Give them a call at 512-444-6794 or visit their website at themoneybox.com.

This page functions best as a social community. If you’ve had a good or a bad experience with a specific Texas payday loans company, please share it with the rest of us so we can all benefit from the information. Also, if you have any questions about Texas payday loans, you can ask them here, and either one of our staff or another visitor will answer it the same day.

You can also like us on Facebook or follow us on Twitter and stay informed on all of the latest and constantly-changing Texas payday loans info.

Go to the home page for more payday loan reviews.

Add Your Own Texas Payday Loans Review:

VN:F [1.9.20_1166]
Rating: 0.0/5 (0 votes cast)
VN:F [1.9.20_1166]
Rating: 0 (from 0 votes)
You May Also Like:

Leave a Comment