Payday Loans in Texas TX: Submit and Approval in Minutes
The state of Texas allows direct lenders to deliver payday loans. Potential borrowers aren’t limited in the amount of money they can request. But they have to face additional charges, which differ from one lender to another.
When you have access to the right payday loans in Texas, you won’t be scared of sudden expenses, bills, and emergencies. Whether you’re in Houston, Edinburg, Dallas, or Austin, you are free to borrow as low as $100 and as much as $1000+ from direct lenders.
To make your life easier, the experts at Filld.loan are there to find the best loan offers for you. It takes just a few clicks to ask us for help!
Online Payday Loans Regulations in Texas TX
Texas has relatively flexible payday loan legislation that allows the industry to prosper. This leads to a large number of direct lenders in the state. Since 2011, Texas has become one of the leaders in the number of issued payday loans. With state-licensed lenders, more citizens have got a chance to improve their financial situation.
The state regulations for payday loans are mentioned in 7 Tex. Admin. Code and Tex. Fin. Code Ann. §§342.251. According to those legislative documents, all lenders must be licensed in the city where they deliver their lending services. They must provide all the loan information (terms, interest rates, fees, repayment plan) in the loan documents. They can’t approve the loan amount (with extra charges) that would exceed 20% of the applicant’s monthly income. Some additional obligations can be found in those legislative documents.
Direct lenders can issue payday loans online in Texas. The cities that have passed the recent ordinance include Austin, Beaumont, College Station, Edinburg, Fort Hood, Greenville, Mesquite, New Braunfels, Richardson, San Antonio, Weatherford, and others.
Requirements for Getting Payday Loans in TX
Before applying for TX payday loans from direct lenders, make sure that you fulfill the eligibility requirements set by the state law. These include:
- You must be at least 18 years old.
- You must be an official resident of Texas (be ready to provide your legal contact address).
- You must have a steady source of income that guarantees at least $250 per week.
- You should hold an active bank account.
- You must not be bankrupt while submitting a loan application.
Some additional details may be requested by separate lenders for particular applicants. This usually happens when lenders try to check their ability to pay back the loan amount by the due date.
At Filld, we also request some of your personal details to process your loan request. These include your first and secondary name, SSN, and contact address, which are important to connect you with the matching lender. After specifying your personal details, you can indicate the amount you want to borrow, which you’d like to get approved.
When you are looking for a fast loan source to cover your expenses, you will get the necessary assistance from our team of experts. Once they find some suitable loan offers, they will let you choose one of them. Sign up with Filld today and get your payday loan deposited right into your bank account.
Online Payday Loans Terms in Texas
Online payday loans in Texas are mainly short-term loans given away for covering the personal needs of borrowers. The maximum amount a person can borrow from a direct lender in the state hasn’t been specified. This decision usually falls on the shoulders of each particular lender.
In Texas, there is no maximum fee to be imposed on lending products. It often reaches up to 400+% annual percentage rate (APR). An acquisition charge can’t exceed $1 for every $5 borrowed on any payday loan less than $40.
For any advance higher than $100, an acquisition can be charged so long as it doesn’t exceed $10. A charge for an installment account can be imposed if it doesn’t exceed the ratio of $4 per month for every $100 of the advance.
By the way, payday loans in Texas can be approved for a term ranging from 7 days to 180 days or six months. A term is usually chosen by borrowers. In rare cases, they are stated by direct lenders.
Repayment Plan for Payday Loans in Texas
In the state of Texas, direct lenders can offer two types of payday loans: single installment loans (from two to four months) and multiple installment loans (six months). Depending on the sum of money you borrow and the emergency you are experiencing, you can choose the most suitable repayment plan. If you are ready to pay back a loan amount all at once or in a series of installments, you will be able to discuss it with the lender.
Why Is It Critical to Choose Texas-Licensed Direct Lenders?
The best option for payday loans in Texas TX is a state-licensed direct lender. This is the only way to get a reliable lending service without getting your personal data stolen.
Direct lenders acting in compliance with the state law offer a safe environment. They have transparent policies which transform into fair loan terms. American borrowers can read them through in the loan agreement before putting their signature.
While searching, make sure to check the lender’s website. Is there the information about the state license in Texas? Is there a phone number of the customer care department? By answering those questions, you will find out whether the lender is worth your attention.
Apply for Texas Payday Loans Online with Filld
The team of FILLD proudly works with the most reliable lending companies. This is how we get access to the best payday loans in Texas. Once we get an online request, we try to find matching loan offers. Do we succeed in that? If yes, we let you choose one of them.
One of the main benefits granted by Filld is an opportunity to bring all well-trusted lenders into one place. So we get you covered regardless of your location and financial needs!