Payday Loans in Centralia, Texas

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

Company nameAddressZip codePhone number
Cash Store 202 N Koenigheim St Ste B, San Angelo, TX 76903 +1 (325) 486 - 9484
Community First National Bank 1101 Junction Hwy, Kerrville, TX 78028 +1 (830) 315 - 2362
Wells Fargo Bank 207 E Main St, Madisonville, TX 77864 +1 (936) 348 - 3571
Security Finance 301 US-281 Suite C, Lampasas, TX 76550 +1 (512) 556 - 4138
First Cash Pawn 5251 River Oaks Blvd, Fort Worth, TX 76114 +1 (817) 731 - 9132
Cash Pawn Fast 1209 Linda Dr, Daingerfield, TX 75638 +1 (903) 645 - 7296
Thrivent Financial for Lutherans 201 S Market St, Karnes City, TX 78118 +1 (210) 960 - 7693
Texas City Guarantee Loan Service 2027 10th Ave N, Texas City, TX 77590 +1 (409) 945 - 7888
Sun Credit 3915 N State Line Ave, Texarkana, TX 75503 +1 (903) 793 - 3390
Cindy Glass Nmls1453920 - Caliber Home Loans 12171 W Parmer Ln 102, Cedar Park, TX 78613 +1 (512) 659 - 2602

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Centralia, TX, you can try to find different companies in big cities near by. Check out the following pages here: Short-term Loans in El Paso, TX, Bad Credit Loans in Euless, TX, Bad Credit Loans in Farmers Branch, TX, Payday Loans in Flower Mound, TX, Payday Loans in Fort Worth, TX, Same Day Loans in Friendswood, TX, No Credit Check Loans in Frisco, TX and Payday Loan Without a Credit Check in Galveston, 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 Centralia, TX.

Are Payday Loans Legal In Centralia, 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

Centralia, TX payday loan calculator

Understanding Payday Loans in Centralia, Texas

Payday loans are an often misunderstood financial option that many people in Centralia, Texas utilize as a way to cover unexpected expenses. These loans are legal in Texas and can be a useful resource for those who may be facing financial emergencies. However, it’s important to approach payday loans with caution. In this article, we’ll explore what payday loans are, how they work in Centralia, Texas, and what alternatives may be available.

What Are Payday Loans?

A payday loan is a short-term loan that typically lasts for about two weeks and is secured against a borrower’s next paycheck or other form of income. In Texas, the maximum amount a borrower can receive in a payday loan is 20% of their gross monthly income. For example, if someone makes $1,500 per month, they could receive a maximum payday loan of $300.

Payday loans are often advertised as a quick and easy solution for financial emergencies, but they come with a high cost. In Texas, payday lenders can charge up to 10% APR for loans up to $500, and 48% for loans between $500-$1,500. These fees can add up quickly, and many borrowers find themselves in a cycle of debt as they struggle to repay the loan on time.

How Do Payday Loans Work in Centralia, Texas?

In Centralia, Texas, payday loans are legal and regulated under state law. However, there are a few restrictions and regulations that lenders must follow. For example, lenders must provide borrowers with a written loan agreement that outlines the terms of the loan, including the finance charges and APR. Borrowers must also be at least 18 years old, have a valid ID, and have a regular source of income.

When someone takes out a payday loan in Centralia, Texas, they will typically need to provide proof of income and a post-dated check or authorization for automatic withdrawal from their bank account. When the loan comes due, the lender will cash the check or withdraw the funds from the borrower’s bank account.

Alternatives to Payday Loans

While payday loans can be a useful resource in certain situations, they should not be relied upon as a long-term solution. If you find yourself in need of financial assistance, there are several alternatives to consider.

  • Personal loans: A personal loan from a bank or credit union may offer a lower interest rate and more flexible repayment terms than a payday loan.
  • Credit counseling: A non-profit credit counseling agency can help you create a budget and develop a debt repayment plan. They may also be able to negotiate with creditors to lower your interest rates and fees.
  • Emergency assistance: Many organizations in Centralia, Texas, offer emergency financial assistance to those in need. Check with local non-profits, churches, and government agencies for more information.
  • Credit cards: While credit cards come with their own set of risks and drawbacks, they may be a more affordable option than payday loans for those with good credit.

Interesting Facts and Statistics about Payday Loans in Centralia, Texas

– In Texas, the average payday loan borrower takes out eight loans per year.

– In 2020, Texans paid over $1.5 billion in fees on payday and auto-title loans.

– The average APR for payday loans in Texas is 413%.

Apply Now

If you find yourself in need of a payday loan in Centralia, Texas, TheGuaranteedLoans can help. We are a connector service that works with a network of reputable lenders to help you find the loan that’s right for you. Simply fill out our online application and we’ll connect you with potential lenders who may be able to offer you the funds you need. Remember, payday loans should be used responsibly and only as a last resort.

F.A.Q.

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

The amount of time it takes to receive a payday loan in Centralia, 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 Centralia, Texas?

Yes, payday loan proceeds in Centralia, 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.