Payday Loans in Dougherty, Texas

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

Company nameAddressZip codePhone number
VIP Title Loans 610 S Central Expy, Richardson, TX 75080 +1 (972) 783 - 6661
InterBank 525 Morse Ave, Stinnett, TX 79083 +1 (806) 878 - 2488
ATM Transfund 2285 W University Dr, McKinney, TX 75071 +1 (800) 588 - 6816
Texan Credit Corporation 1632 Texoma Pkwy, Sherman, TX 75090 +1 (903) 892 - 6579
World Finance 30006 TX-249 Ste F, Tomball, TX 77375 +1 (281) 516 - 2720
Texan Credit Corporation 2040 Crockett Rd, Palestine, TX 75801 +1 (903) 727 - 0582
Simmons Bank 695 FM 120, Pottsboro, TX 75076 +1 (903) 786 - 7220
Lone Star Finance 309 Clay St, Nocona, TX 76255 +1 (940) 825 - 3100
Advance America 1011 E Ennis Ave Ste. B, Ennis, TX 75119 +1 (972) 875 - 1458
Security Finance 117 West St, Coleman, TX 76834

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dougherty, TX, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in San Antonio, TX, Same Day Loans in San Juan, TX, No Credit Check Loans in San Marcos, TX, Payday Loans in Schertz, TX, Payday Loans in Sherman, TX, Emergency Loan in Socorro, TX, Payday Loan for Southlake, TX and Payday Loans in Spring, 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 Dougherty, TX.

Are Payday Loans Legal In Dougherty, 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

Dougherty, TX payday loan calculator

Understanding Payday Loans in Dougherty, Texas

Payday loans have become an attractive option for people in Dougherty, Texas, who need money quickly to cover unexpected expenses or bridge the gap between paychecks. These loans are short-term, high-interest loans designed to be repaid in full on the borrower’s next payday.

It’s important to note that payday loans are legal in Texas, but there are regulations in place to protect consumers from predatory lending practices. In this guide, we’ll explore how payday loans work in Dougherty, Texas, the laws governing them, and provide some tips for borrowing responsibly.

How do Payday Loans Work?

The process starts with the borrower completing an application with a payday loan provider. They typically require proof of income, ID, and a checking account. The lender then approves or declines the application and provides the borrower with a loan agreement outlining the terms and conditions.

The borrower receives the funds, usually in the form of cash or a direct deposit into their bank account, and agrees to repay the loan in full and additional fees on their next payday. The repayment period can vary, but it’s typically 14 to 30 days after the loan is issued.

Interest rates on payday loans can be exceptionally high, with annual percentage rates (APRs) often exceeding 400%. The fees and terms vary among lenders, so it’s essential to read the loan agreement carefully before agreeing to the terms.

Texas Payday Loan Laws

In Texas, the Office of Consumer Credit Commissioner (OCCC) regulates payday loans. State law requires lenders to be licensed, and payday loans are subject to the following regulations:

  • Loans cannot exceed 20% of the borrower’s gross income
  • Loans must be repaid in full within 180 days
  • Lenders may only charge fees that are reasonable and proportionate to the loan amount
  • Lenders are not allowed to require collateral or threaten criminal action to collect on a loan

It’s important to note that while there are regulations in place, payday loans are still a high-cost, short-term borrowing option. It’s important to borrow responsibly and only take out a loan if you can afford to repay it on time.

Tips for Borrowing Responsibly

If you’re considering a payday loan in Dougherty, Texas, there are some steps you can take to ensure that you’re borrowing responsibly:

  • Borrow only what you need: The more you borrow, the more you will pay in fees and interest. Only borrow the amount you need to cover your expenses.
  • Read the loan agreement carefully: Make sure you understand the terms and conditions of the loan, including the fees and interest rates.
  • Ask questions: If you’re unsure about anything in the loan agreement, ask the lender for clarification.
  • Consider alternatives: Payday loans should be a last resort. Consider alternatives like a personal loan or borrowing from friends or family.

Interesting Facts About Payday Loans in Dougherty, Texas

  • According to the OCCC, there were over 1.3 million payday loans issued in Texas in 2019, with borrowers paying over $1.7 billion in fees and interest.
  • The average payday loan amount in Texas is $470, with an average fee of $23 per $100 borrowed.
  • Texas has the second-highest payday loan usage rate in the United States, behind California.

Apply Now with TheGuaranteedLoans

Are you considering a payday loan in Dougherty, Texas? TheGuaranteedLoans can help connect you with potential lenders quickly and easily. Our online application process is convenient and secure, and we offer access to a network of trusted lenders.

It’s important to note that TheGuaranteedLoans is a connector service, not a direct lender. We do not make credit decisions or approve loans, but rather facilitate the connection between borrowers and lenders.

Apply now and experience the convenience of finding a payday loan lender in Dougherty, Texas through TheGuaranteedLoans.

F.A.Q.

Are payday loans in Dougherty, Texas regulated by the state government?

Yes, payday loans in Dougherty, Texas are regulated by the state government. This includes restrictions on the maximum amount you can borrow, the maximum loan term, and the fees and charges that lenders are allowed to charge.

Is it possible to get a payday loan in Dougherty, Texas with bad credit?

Yes, it is possible to get a payday loan in Dougherty, Texas with bad credit. Most payday lenders do not require a credit check, so your credit score will not affect your eligibility for a loan. However, you may still be required to provide proof of income and other information to qualify for a payday loan.