Payday Loans in Roosevelt, Texas

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

Company nameAddressZip codePhone number
Star Loans of Texas Inc 600 N Washington St, Beeville, TX 78102 +1 (361) 362 - 0959
Texan Credit Corporation 915 N Mockingbird Ln, Abilene, TX 79603 +1 (325) 704 - 5006
First Cash Pawn 317 W Expy 83, La Feria, TX 78559 +1 (956) 797 - 5772
Master Finance Corporation 175 College Park Dr, Weatherford, TX 76086 +1 (817) 594 - 2800
TitleMax Title Loans 1328 E Belt Line Rd, Richardson, TX 75081 +1 (972) 850 - 5845
Domino Federal Credit Union 101 E Kildare Rd, Linden, TX 75563 +1 (903) 756 - 3901
First Cash Pawn 7301 University Ave 700, Lubbock, TX 79423 +1 (806) 445 - 0428
Amistad Loan Co 221 N Main St, Fort Stockton, TX 79735 +1 (432) 336 - 2223
Sun Loan Company 800 Main St, Liberty, TX 77575
Raymond James Financial Services 210 E Main St, Olney, TX 76374 +1 (940) 564 - 3533

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Roosevelt, TX, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Copperas Cove, TX, Payday Loans in Corpus Christi, TX, No Credit Check Loans in Dallas, TX, Emergency Loan in Deer Park, TX, Emergency Loan in Del Rio, TX, No Credit Check Loans in Denton, TX, Guaranteed Loans in DeSoto, TX and Online Loans in Duncanville, 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 Roosevelt, TX.

Are Payday Loans Legal In Roosevelt, 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

Roosevelt, TX payday loan calculator

Understanding Payday Loans in Roosevelt, Texas

When facing unexpected expenses between paychecks, payday loans often seem like the perfect solution. Roosevelt, Texas residents are not an exception, as payday loans are legal in the state. However, before you decide to take out a payday loan, it’s crucial to understand how they work, their benefits, and their potential drawbacks.

What are payday loans?

A payday loan is a type of short-term loan that borrowers can obtain quickly and easily. Typically, these loans are due on the borrower’s next payday, hence the name.

Payday loans are designed to help people who need cash fast, but payday lenders impose high fees, interest rates, and short repayment terms. These loans are frequently used to cover unexpected expenses, such as medical bills or car repairs. They’re not intended to be a long-term financial solution and can be harmful if used improperly.

How do payday loans work in Texas?

Payday loans are legal in Texas, and lenders can charge up to $1.50 in interest for every $10 borrowed. The average payday loan in the state is around $500, and the maximum amount a borrower can take out is $1,800.

Before taking out a payday loan, borrowers need to provide proof of income, such as a paystub or bank statement, and the lender will perform a credit check. If the borrower is approved, the loan will be due on their next payday, usually within two weeks, though some lenders may offer repayment plans that extend the term up to four months.

Pros and cons of payday loans in Roosevelt, Texas

Like any financial product, payday loans have their advantages and disadvantages. Here are some of the pros and cons of payday loans in Roosevelt, Texas:

  • Pros:
    • Quick access to cash for unexpected expenses
    • No collateral required
    • Easy application process
    • Available to borrowers with poor credit
    • Legal in Texas
  • Cons:
    • High fees and interest rates
    • Short repayment terms
    • Risk of repeat borrowing and debt cycles
    • Payday lenders may engage in predatory practices
    • Not a long-term financial solution

Interesting Facts and Statistics about Payday Loans in Roosevelt, Texas

  • According to the Texas Office of Consumer Credit Commissioner, in 2020, Texans borrowed over $10 billion in payday loans.
  • The average APR on a Texas payday loan is 410%, which is higher than the national average of 391%.
  • Payday lenders in Texas are not required to hold a license, making it easier for them to operate.

Apply Now

At TheGuaranteedLoans, we know that unexpected expenses can be stressful. If you’re considering a payday loan to help cover your costs, we can help you get connected with lenders in Roosevelt, Texas. We’re a connector service, not a direct lender, meaning we can facilitate your connection with potential lenders. Start your application today and get the funds you need quickly and easily.

Note: Loan terms, fees, and interest rates vary by lender and borrower. Be sure to review your loan documents carefully before agreeing to any terms.

F.A.Q.

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

No, borrowers are free to use the funds from a payday loan in Roosevelt, 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 Roosevelt, Texas?

If a borrower defaults on a payday loan in Roosevelt, 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.