Do you have bad credit, poor credit, or no credit at all? Do not worry. Payday TX understands the financial stress of consumers, specially after Covid the way finances got disturbed is increasing this stress everyday. Most of us looks for quick and hassle-free secure cash access with facing any hard credit checks.
We are here to offer such service. However, to offer such benefits without any hassle we operate a little different and fees for our financial products are little higher that the products offered to people with high credit score and who are willing to go through hard credit checks. For every $100 borrowed, we charge a one-time fee. It remains unchanged until and unless payment is made on time.
Why To Choose Online Payday Loans Texas?
The average overdraft fee is about $25 – $35 per instance with the banks. Moreover, your bank might not notify you until after you’ve been charged with several of these fees. Fortunately, with payday loan advance, you can avoid over drafting of your account. Another great reason to access payday loan funds is to avoid NSF fees from bounced checks. The average overdraft fee for each bounced transaction is $30. So, you could end up paying more in overdraft fees eventually as compared to the expense of the loan. Hence, by applying for an online payday loan, you could save money between paychecks since a payday loan fee is only assessed once at the time of payment.
Perhaps you are wondering if payday lenders do not require credit score for issuing the loan approval, what do they use. Well, it varies from lender to lender what they constitute in the loan approval process. But all of them follow some general guidelines which are as follows:
- An applicant must be 18 years of age.
- An applicant must have a bank account in his/her name that must be active for at least 30 days.
- An applicant must have a valid address that should be in a location where the lender is licensed to operate. For example, here we are talking about Texas.
- An applicant must have few salary slips or proof of constant income.
Is Online Installment Loan Right Option for You?
Are you looking for an option to pay off your loan over a longer period? As long as you are resident of Texas, you are eligible to apply for an installment loan. Anyhow, both payday loan and installment loan are small amount personal loans. Understanding the difference between their characteristics and to know about the financial institution requirements give the clearer picture to the borrower to identify the better option.
As the name implies, an installment loan offers you an option to pay back the borrowed amount in smaller amounts over a period of six months. Payment due dates are scheduled according to the pay cycle of the borrower to provide more convenience to the consumers. This type of loan is a great option if you know a large expense is coming up and you will be unable to cover that on your own and will need several months to back the borrowed loan. Due to smaller payments, it is very easy to manage this loan. This loan type also helps in developing solid repayment history making you eligible for higher loan amounts. Thus, they are not only simple, secure, and trusted loans but also helps in improving the eligibility of the borrowers.
No matter which loan option you choose, try to become a responsible borrower.
Texas Payday Loans Rates and Terms
Whichever lender you choose to apply for a loan with, a payday loan agreement is always governed by the applicable laws of the state of Texas.
It is advised to keep in mind that a short-term loan or auto title loan should only be used to meet immediate short-term financial needs so that you do not need to refinance the loan. By doing so, you can prevent yourself from ending up into a debt cycle.
Before choosing any lender, make sure their business is licensed and examined by the State of Texas – Office of Consumer Credit Commissioner. You can call the Consumer Credit Hotline or write for credit information or assistance with credit problems. Office of Consumer Credit Commissioner, 2601 North Lamar Boulevard, Austin, Texas 78705-4207, 1.800.538.1579.