Payday Loans in Lipscomb, Texas

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

Company nameAddressZip codePhone number
Classic Bank 102 N Houston Ave, Cameron, TX 76520
Check n Go 4425 50th St, Lubbock, TX 79414 +1 (806) 785 - 4500
Security Finance 5940 Broadway Avenue J, Galveston, TX 77551 +1 (409) 763 - 8585
Excel Finance 108 FM3072, Pharr, TX 78577
Loanstar Title Loans 305 SW Wilshire Blvd, Burleson, TX 76028 +1 (817) 426 - 3332
TitleMax Title Loans 1817 US-79 S, Henderson, TX 75652 +1 (903) 657 - 2610
IBC Bank 1800 US-181, Portland, TX 78374 +1 (361) 886 - 9910
Oportun 3820 N Fry Rd, Katy, TX 77449 +1 (713) 401 - 2607
Republic Finance 1928 S Seguin Ave Suite 108, New Braunfels, TX 78130 +1 (830) 643 - 0334
Sun Loan Company 689 Farm to Market 517 Rd W Ste 100, Dickinson, TX 77539 +1 (281) 337 - 6008

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lipscomb, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Arlington, TX, Payday Loans in Austin, TX, Same Day Loans in Baytown, TX, Payday Loans in Beaumont, TX, Payday Loans in Bedford, TX, Short-term Loans in Brownsville, TX, Payday Loans in Bryan, TX and Payday Loans in Burleson, 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 Lipscomb, TX.

Payday Loans Available in Lipscomb, TX By The Following ZIP Codes:

79056

Are Payday Loans Legal In Lipscomb, 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

Lipscomb, TX payday loan calculator

Everything You Need to Know About Payday Loans in Lipscomb, Texas

If you urgently need some cash, you may be considering a payday loan. Payday loans can be a quick solution for short-term financial challenges that may come up unexpectedly. While payday loans in Lipscomb, Texas may be legal, it’s important to know what you’re getting into before you borrow money. In this comprehensive guide, we will cover the ins and outs of payday loans in Lipscomb, Texas, so that you can make an informed decision.

What is a Payday Loan?

A payday loan is a small, short-term loan that is usually taken out to cover an unexpected expense or an emergency. Payday loans are typically due on the borrower’s next payday. Borrowers provide proof of income and provide post-dated checks or authorize electronic withdrawals to repay the loan plus fees. The fees for payday loans can be high, and failure to repay the loan on time can result in additional fees and even legal action.

Requirements for Getting a Payday Loan in Lipscomb, Texas

To qualify for a payday loan in Lipscomb, Texas, you need to meet certain requirements. You must:

  • Be at least 18 years old
  • Have a valid ID or driver’s license
  • Have an active checking account
  • Provide proof of income (such as a pay stub or bank statement)
  • Provide a valid phone number and email address

The lender may also require additional information, such as proof of residency or employment.

Maximum and Minimum Loan Amounts

The maximum amount you can borrow with a payday loan in Texas is $1,800. However, the amount you can borrow depends on your income and other factors. Note that the maximum loan amount can change depending on the lender.

The minimum loan amount that can be borrowed in Texas is $50. Some lenders may have higher minimum loan amounts, so it’s important to check before you apply.

Finance Charges and Fees

Lenders in Texas can charge up to $23 in fees for every $100 borrowed, up to a maximum of $30 per $100. This means that if you borrow $500 with a payday loan, you will be charged $115 in fees.

It’s important to note that these fees are in addition to the repayment of the loan itself. If you’re unable to repay the loan on time, additional fees and interest will be charged.

Repayment

Payday loans in Lipscomb, Texas are due on the borrower’s next payday. The loan can be repaid in person or through an electronic withdrawal from your bank account. If you’re unable to repay the loan on time, additional fees and interest will be charged, and legal action may be taken against you.

Pros and Cons of Payday Loans

While payday loans can be a quick solution for short-term financial emergencies, they come with a lot of risks. Here are some pros and cons to consider before taking out a payday loan:

Pros:

  • Easy and quick access to cash
  • No need for a credit check
  • No collateral required

Cons:

  • High fees and finance charges
  • Risk of falling into a debt cycle
  • May damage credit score
  • Can lead to legal action if not paid back on time

Facts and Statistics

According to the Texas State Government, the average payday loan in Texas is $470, and the average finance charge for a 14-day loan of $100 is $23.58. As of 2019, there were over 2,000 payday lenders in Texas.

Apply Now

If you have carefully considered your options and have made the decision to apply for a payday loan, TheGuaranteedLoans.com is here to help. We are a connector service that can help you find potential lenders to facilitate your loan. Simply fill out our online application, and we will assist you in connecting with lenders that may be able to offer you a payday loan.

Remember, payday loans are a serious financial commitment. Before taking out a loan, it’s important to weigh the pros and cons and ensure that you can repay the loan on time.

Final Thoughts

Payday loans can be a quick solution to short-term financial challenges, but they come with a lot of risks. It’s important to carefully consider your options and ensure that you’re able to repay the loan on time. By using TheGuaranteedLoans, you can rest easy knowing that we will facilitate your connection with potential lenders, making your search for a payday loan in Lipscomb, Texas easier and more efficient.

F.A.Q.

How much can I borrow with a payday loan in Lipscomb, Texas?

The maximum amount that can be borrowed with a payday loan in Lipscomb, Texas is $500. However, lenders may not lend more than 20% of the borrower's gross monthly income or 25% of their net income.

What are the fees and interest rates associated with payday loans in Lipscomb, Texas?

Payday loans in Lipscomb, Texas have a maximum APR of 661%. Lenders are also allowed to charge a loan origination fee of up to $10 per $100 borrowed, as well as a database verification fee of up to $2.50 per loan.