Payday Loans in Burlington, Texas

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No payday loan companies in Burlington, TX. Consider companies in other cities:

Company nameAddressZip codePhone number
First State Bank of Ben Wheeler 404 W Pine St, Edgewood, TX 75117 +1 (903) 896 - 4014
First United Bank 801 23rd St, Canyon, TX 79015 +1 (806) 655 - 8000
Cash Store 1017 E Trinity Mills Rd STE 112, Carrollton, TX 75006 +1 (972) 820 - 8804
Texas Car Title & Payday Loan Services, Inc. 1664 S Jackson St, Jacksonville, TX 75766 +1 (903) 586 - 1940
TDECU 2318 W Main St, Port Lavaca, TX 77979 +1 (800) 839 - 1154
WesTex Community Credit Union 200 E Austin St, Kermit, TX 79745 +1 (432) 586 - 6631
Texas Car Title & Payday Loan Services, Inc. 7506 N Navarro St, Victoria, TX 77904 +1 (361) 575 - 7100
ACE Cash Express 424 N Yarbrough Dr Ste A, El Paso, TX 79915 +1 (915) 595 - 2241
EZ Money 222 S Frazier St, Conroe, TX 77301 +1 (936) 760 - 3056
Service Loan Co 508 E Denman Ave A, Lufkin, TX 75901 +1 (936) 637 - 2353

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Burlington, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Southlake, TX, Payday Loans in Spring, TX, Bad Credit Loans in Sugar Land, TX, Payday Loan Companies in Temple, TX, Payday Loan for Texarkana, TX, Payday Loans in Texas City, TX, Payday Loans in The Colony, TX and Payday Loans in Tyler, TX. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Burlington, TX.

Are Payday Loans Legal In Burlington, Texas?

Loan Rates and Fees, Laws and Regulations in Texas.

Texas Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)662
Maximum Loan AmountNot Specified
Minimum Loan Term7 days
Maximum Loan TermVaries
Number of Rollovers Allowed0
Finance Charges>$30 => $1 for each $5 [$30 – $100] => 1/10 of the loan amount + $3 /mo (<$35) [$35 – $70] => $3.50/mo + $4/mo (>$70) >$100 => $10 + $4/mo for each $100

Burlington, TX payday loan calculator

Payday Loans in Burlington, Texas: A Comprehensive Overview

If you’re living in Burlington, Texas, and find yourself in need of emergency cash, you may be considering a payday loan. These short-term loans are designed to provide temporary financial relief until your next payday or income. While payday loans can be useful in a pinch, they can be a costly option with often high-interest rates. Therefore, it’s important to understand the basics of payday loans in Burlington, Texas, before making any decisions.

What are Payday Loans?

Payday loans are a form of unsecured loan, which means that they don’t require collateral. Typically, these loans are for small amounts, and the lenders will expect you to repay it in full, along with interest, on your next paycheck. The application process is fast and straightforward and doesn’t require a credit check. Generally, you won’t have to provide any documentation beyond your identification and proof of income.

Are Payday Loans Legal in Texas?

Yes, payday loans are legal in Texas. However, the state does impose certain regulations and restrictions on these loans to protect consumers. The maximum amount you can borrow in Texas with a payday loan is $1,800. The loan term duration can range between seven to thirty-one days, and lenders may only charge a maximum of 10% interest on the loan amount.

What Are the Requirements to Qualify for Payday Loans?

The requirements to qualify for a payday loan in Burlington, Texas, are pretty straightforward. You must be at least 18 years old, have a valid government-issued ID, proof of income, an active bank account, and a working phone number. Additionally, many lenders may require you to show proof of residency and have a good credit score to qualify for an unsecured loan with decent rates and affordable terms. However, don’t worry if you don’t have good credit; many payday lenders in Texas don’t require a credit check to provide you with a loan.

The Pros and Cons of Payday Loans

Like any financial product, payday loans have their advantages and disadvantages. Here are a few things to consider when weighing the pros and cons of payday loans:

  • Pros:
    • Quick and easy application process
    • No collateral required
    • No credit check required for many lenders
    • Funds can be used for any purpose
  • Cons:
    • Short repayment period
    • High-interest rates and fees
    • Can lead to a cycle of debt
    • May impact your credit score

Frequently Asked Questions About Payday Loans in Burlington, Texas

What Happens if You Can’t Repay Your Payday Loan on Time?

If you are unable to repay your payday loan on time, the lender may offer to roll over your loan for an additional fee. Rolling over your loan can lead to high-interest charges and can make it hard for you to repay the loan in the future. If you’re unable to pay the loan, the lender may also sell your debt to a collection agency, leading to more stress and financial burden.

Can You Have Multiple Payday Loans at Once?

Texas law does not allow borrowers to hold multiple payday loans at once. If you already have a payday loan, you must pay off that loan completely before applying for another one. This rule is designed to protect consumers from falling into a cycle of debt and financial hardship.

Can You File for Bankruptcy Because of Payday Loans?

Yes, you can file for bankruptcy if you have outstanding payday loan debt. However, it’s important to note that payday loans are usually classified as “unsecured” debt, which means that they are typically dischargeable in bankruptcy. Nevertheless, you should consult with a bankruptcy attorney to discuss your options regarding the possible Bankruptcy Chapter thatis suitable for you.

Interesting Facts and Statistics About Payday Loans in Burlington, Texas

  • According to a Consumer Financial Protection Bureau report, almost 70% of payday borrowers use these loans for recurring expenses such as rent, car payments, and food.
  • The study shows that the median amount of payday loan debt is $350, and borrowers on average stay in debt for around 199 days in a row.
  • In Texas, more than 2.2 million payday loans were taken out in 2020.
  • The number of payday loan businesses in Texas has increased from 1,279 in 2006 to over 3,500 in 2021.

Apply Now

If you need a payday loan, don’t hesitate to fill out an application on TheGuaranteedLoans website. As a connector service, we can help you find potential lenders who can provide you with affordable rates and flexible terms. Keep in mind that we are not a direct lender, nor do we make credit decisions. We are here to help you find the right lender to meet your financial needs.

Conclusion

Payday loans can be a useful tool to help you navigate an unexpected financial emergency. Nevertheless, it’s essential to understand how these loans work and the risks involved before committing to one. Be sure to evaluate your financial situation carefully and only borrow what you can afford to repay. And if you’re considering a payday loan in Burlington, Texas, TheGuaranteedLoans can help you find the best lending options available. Apply Now!

More F.A.Q.

How long does it take to receive a payday loan in Burlington, Texas?

The amount of time it takes to receive a payday loan in Burlington, Texas varies by lender. Some lenders may be able to provide the loan funds within a few hours, while others may take several days. It is important to research and compare lenders to determine which option is best for your needs.

Are there any restrictions on the use of payday loan proceeds in Burlington, Texas?

Yes, payday loan proceeds in Burlington, Texas can only be used for short-term financial needs, such as emergency expenses or bills. They cannot be used to pay off existing loans or credit card debt. It is important to carefully consider your financial needs and the terms of the loan before borrowing.