Payday Loans in Lelia Lake, Texas

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

Company nameAddressZip codePhone number
Hill Bank & Trust 201 E Main St, Weimar, TX 78962 +1 (979) 725 - 9575
World Finance 1019 W Pleasant Run Rd, Lancaster, TX 75146 +1 (972) 218 - 6591
Regional Finance 3806 Avenue I Suite 22, Rosenberg, TX 77471 +1 (832) 361 - 3910
Psi Funds 325 North St. Paul Street, Dallas, TX 75201 +1 (214) 220 - 2003
The First State Bank 208 E 2nd St, Sweeny, TX 77480 +1 (979) 548 - 2131
Texas Car Title & Payday Loan Services, Inc. 2707 N Main St, Taylor, TX 76574 +1 (512) 352 - 2600
Texan Credit Corporation 2040 Crockett Rd, Palestine, TX 75801 +1 (903) 727 - 0582
Auvi-Coll 10777 Westheimer Rd 1100, Houston, TX 77042 +1 (713) 266 - 6958
Barri Agent 825 Austin St, Hempstead, TX 77445
CASH MAX GOLD BUYERS 615 E Camp Wisdom Rd 1, Duncanville, TX 75116 +1 (972) 572 - 1539

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lelia Lake, TX, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Lewisville, TX, Payday Loans in Little Elm, TX, Payday Loan for Longview, TX, Payday Loans in Lubbock, TX, Payday Loans in Lufkin, TX, Payday Loans in Mansfield, TX, Emergency Loan in McAllen, TX and Payday Loans in McKinney, 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 Lelia Lake, TX.

Are Payday Loans Legal In Lelia Lake, 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

Lelia Lake, TX payday loan calculator

Payday loans are often utilized by individuals who need quick access to cash to cover unexpected expenses. While there are various places to obtain payday loans in the state of Texas, we wanted to focus on the small town of Lelia Lake, Texas and how this type of funding has impacted this community.

The Basics of Payday Loans

It’s important to understand what payday loans are and how they work before taking one out. Payday loans are typically small-dollar loans, ranging from $50 to $1000, that must be repaid on or before the borrower’s next payday. These types of loans are meant to be a short-term solution, with the intention of giving people access to funds when they need them to cover emergency expenses.

Payday loans are usually quick and easy to obtain. They are meant to be accessible for people who may have poor credit history or may not have access to traditional credit options such as credit cards or personal loans. For these reasons, payday loans usually come with high interest rates and fees.

Payday Loan Regulations in Texas

It’s important to note that payday loans are legal in Texas. However, the state has implemented regulations on how these loans are issued and repaid to protect the borrowers from being taken advantage of. One such regulation is that lenders cannot issue a payday loan for more than 20% of the borrower’s gross income. This is to ensure that people are not taking out loans that they are unable to repay.

Another regulation in Texas states that payday loan terms cannot exceed 180 days, with an interest rate cap of 10%. These regulations are in place to protect vulnerable borrowers who may not have access to traditional forms of credit and to ensure that they do not fall into an endless cycle of debt.

Payday Loans in Lelia Lake, Texas

Lelia Lake is a small town located in Donley County, Texas. Like many other small towns across the country, Lelia Lake is home to a limited number of resources for its residents. For those who need quick cash in Lelia Lake, payday loan options are available.

According to recent reports, the average payday loan in Texas is $462 and the average annual percentage rate (APR) is 662%. These high APRs can lead to borrowers being unable to repay the loan, ultimately trapping them in a cycle of debt.

Payday Loan Statistics in Lelia Lake, Texas

  • As of 2019, Lelia Lake had a population of around 100 people
  • There are at least 3 payday loan businesses in the neighboring town of Clarendon, Texas, located about 15 miles from Lelia Lake
  • The average interest rate for a payday loan in Texas is 662%, according to research by The Pew Charitable Trusts

Alternatives to Payday Loans

While payday loans may be a quick and easy solution, they are generally not the best option for borrowers due to the high costs and risks associated with them. It’s important to understand other options that may be available and to explore them before considering taking out a payday loan. Some alternative options include:

  • Personal loans from traditional lenders – while these may take longer to obtain, they usually come with lower interest rates and more favorable terms of repayment.
  • Borrowing from family or friends
  • Using credit cards with lower interest rates than payday loans
  • Work with creditors to establish a payment plan or negotiate a reduced payment

Apply Now with TheGuaranteedLoans

If you’re looking for a payday loan (or alternative solutions) in Lelia Lake, Texas, TheGuaranteedLoans can help connect you with lenders in your area. It’s important to remember that TheGuaranteedLoans is not a direct lender, but rather a connector service that works with multiple lenders to find you the best options available.

Visit our website today to learn more about how we can help you get the money you need, when you need it most. And remember, before taking out any type of loan, it’s important to carefully consider the risks and benefits involved and to explore all of the available options.

F.A.Q.

Are there any restrictions on how I can use the funds from a payday loan in Lelia Lake, Texas?

No, borrowers are free to use the funds from a payday loan in Lelia Lake, Texas for any purpose. However, it is important to remember that these loans should only be used for short-term financial emergencies and not for long-term financial planning.

What are the consequences of defaulting on a payday loan in Lelia Lake, Texas?

If a borrower defaults on a payday loan in Lelia Lake, Texas, the lender may pursue collection efforts, including contacting the borrower's employer, contacting third-party debt collectors, or taking the borrower to court. Defaulting on a payday loan can also have a negative impact on the borrower's credit score.