Payday Loans in Telephone, Texas

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

Company nameAddressZip codePhone number
People Finance Co 106 W Fox St, Caldwell, TX 77836 +1 (979) 567 - 0176
Capitol Finance Co 1330 N McDonald St 105, McKinney, TX 75071 +1 (972) 542 - 0116
Tesoro Loan Co 1814 E Main St B, Alice, TX 78332 +1 (361) 664 - 0858
City National Bank 700 E Lennon Dr, Emory, TX 75440 +1 (903) 473 - 0090
SouthStar Bank, Brazoria 301 S Brooks St, Brazoria, TX 77422 +1 (979) 798 - 2181
First Finance 703 W Henderson St, Cleburne, TX 76033 +1 (817) 556 - 2130
B & W Finance Co 139 E Nopal St, Uvalde, TX 78801
Ray Financial Group 222 S Main St, Seminole, TX 79360 +1 (432) 758 - 2664
Pioneer Bank 200 W Morgan, Meridian, TX 76665 +1 (254) 435 - 2351
World Finance 708 N Nolan River Rd Ste B, Cleburne, TX 76033 +1 (817) 641 - 1960

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Telephone, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Tyler, TX, Payday Loan for Victoria, TX, Payday Loans in Waco, TX, 24-Hour Loan in Waxahachie, TX, Bad Credit Loans in Weslaco, TX, Bad Credit Loans in Wichita Falls, TX, Guaranteed Loans in Wylie, TX and Payday Loans in Abilene, 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 Telephone, TX.

Are Payday Loans Legal In Telephone, 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

Telephone, TX payday loan calculator

Understanding Payday Loans in Telephone, Texas

Payday loans are a type of short-term loan that can help individuals in need of immediate cash to cover unexpected expenses. These loans are designed to be repaid within a few weeks, usually on the date of the borrower’s next paycheck.

In Telephone, Texas, payday loans are legal and widely available from both brick-and-mortar stores and online lenders. However, before applying for a payday loan, it’s important to understand the potential benefits and risks of borrowing money in this way.

How Payday Loans Work

Payday loans are typically available to individuals who have a steady source of income, such as a job or government benefits. To apply for a payday loan, borrowers must provide proof of income, a government-issued ID, and a valid checking account.

Once approved, the borrower will receive the loan amount in the form of cash, a check, or a deposit into their checking account. The loan must be repaid within a few weeks, typically on the borrower’s next payday.

Payday loans are designed to be a short-term solution for unexpected financial emergencies. They are not intended to be used as a long-term financial solution or to cover regular expenses such as rent or groceries.

The Benefits of Payday Loans

For individuals in need of immediate cash to cover unexpected expenses, payday loans can provide a quick and easy solution. Unlike traditional loans, payday lenders typically do not require a credit check, making them accessible to individuals with poor credit or no credit history.

Additionally, payday loans can be a more affordable option than other types of short-term loans, such as credit card cash advances or overdraft fees.

The Risks of Payday Loans

While payday loans can provide a quick and easy solution for individuals in need of immediate cash, they also come with significant risks.

One of the biggest risks of payday loans is the high interest rates. The annual percentage rate (APR) on payday loans can be as high as 400%, making it challenging for borrowers to repay the loan in full. In fact, according to the Consumer Financial Protection Bureau, the majority of payday loans are rolled over into new loans, leading to a cycle of debt and higher interest rates.

Another risk of payday loans is the potential for predatory lending practices. Some lenders may take advantage of borrowers who are in a desperate financial situation, charging excessive fees or engaging in other deceptive practices.

Interesting Facts About Payday Loans in Telephone, Texas

  • According to the Texas Office of Consumer Credit Commissioner, there were 1,702 registered storefront payday lenders in Texas in 2020.
  • The average APR on payday loans in Texas is 662%, according to a report by the Center for Responsible Lending.
  • In 2019, Texans took out 10.6 million payday loans, resulting in $2.9 billion in fees and interest.
  • While payday loans are legal in Texas, some cities have implemented local ordinances to regulate payday lending practices.

Apply Now

If you’re considering a payday loan in Telephone, Texas, TheGuaranteedLoans can help connect you with potential lenders. Our online application is quick and easy, and we work with a network of reputable lenders who can provide the cash you need when you need it.

It’s important to remember that TheGuaranteedLoans is a connector service and not a direct lender. We will facilitate your connection with potential lenders, but we do not make loan decisions or determine loan terms.

If you’re in need of immediate cash to cover unexpected expenses, apply now and let us help you find the right lender for your needs.

Conclusion

Payday loans can be a helpful solution for individuals in need of immediate cash to cover unexpected expenses. However, it’s important to understand the potential benefits and risks before applying for a loan.

By working with a reputable lender and borrowing only what you need, you can minimize the risks of payday loans and take control of your finances.

F.A.Q.

Can I file a complaint about a payday lender in Telephone, Texas?

Yes, if you have a complaint about a payday lender in Telephone, Texas, you can file a complaint with the Texas Office of Consumer Credit Commissioner. This office is responsible for regulating payday lenders and enforcing consumer protection laws.

Are there any restrictions on the number of payday loans I can take out in Telephone, Texas?

Yes, Texas law limits the number of payday loans that an individual can take out at one time. The maximum number of payday loans that can be outstanding at any given time is three.