Payday Loans in Whiteface, Texas

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

Company nameAddressZip codePhone number
Montague County Abstract 11279 State Hwy. 59 North, Montague, TX 76251 +1 (940) 894 - 2781
Cash Cow Pawn Gun & Jewelry 2513 7th St, Bay City, TX 77414 +1 (979) 323 - 7296
Western Finance 610 N Smith Ave 6, Hebbronville, TX 78361 +1 (361) 527 - 4036
Approved Money Center 1671 Main St suite k, Buda, TX 78610 +1 (512) 312 - 4674
TitleMax Title Loans 515 E Front St, Tyler, TX 75702 +1 (430) 205 - 8600
Sun Loan Company 424 W Oaklawn Rd, Pleasanton, TX 78064
Tiempo Loans 2636 Spencer Hwy D, Pasadena, TX 77504 +1 (713) 946 - 3030
Sun Loan Company 125 TX-332 B, Lake Jackson, TX 77566 +1 (979) 285 - 9746
Amarillo Federal Credit Union Pampa Branch 900 N Hobart St, Pampa, TX 79065 +1 (806) 665 - 3271
Commerce Finance of Converse 8021 FM78 Suite 119, Converse, TX 78109 +1 (210) 599 - 8902

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Whiteface, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Cedar Hill, TX, Payday Loan Without a Credit Check in Cedar Park, TX, Online Loans in Channelview, TX, Payday Loan Companies in College Station, TX, Payday Loans in Conroe, TX, Online Loans in Coppell, TX, Payday Loans in Copperas Cove, TX and Same Day Loans in Corpus Christi, 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 Whiteface, TX.

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

79379

Are Payday Loans Legal In Whiteface, 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

Whiteface, TX payday loan calculator

Understanding Payday Loans in Whiteface, Texas

Payday loans, also known as cash advances or paycheck advances, are small loans that a borrower can obtain to cover unexpected expenses until their next payday. These types of loans have gained popularity in recent years due to their ease of access and fast processing times, making them a go-to option for many Americans who are in need of quick cash.

In Texas, payday loans are legal, but regulations are in place to protect the borrower from unscrupulous lenders charging exorbitant interest rates. Understanding the payday loan process and associated laws can help residents of Whiteface make informed decisions when seeking financial assistance.

How to Apply for Payday Loans in Whiteface, Texas

The application process for a payday loan is relatively straightforward and can be completed online or in person. Here is a general overview of what to expect when applying for a payday loan in Whiteface:

  • First, the borrower must provide proof of income and employment.
  • Next, the borrower must provide their banking information, including a checking account and routing number.
  • The borrower must also provide information about the amount of the loan they need and when they can pay it back.
  • If the application is approved, the lender will deposit the funds directly into the borrower’s checking account.
  • The borrower must pay back the loan, including interest and fees, on the agreed-upon date.

It’s important to note that payday loans in Whiteface, Texas, have an interest rate cap of 10% per year, making them more affordable for the borrower compared to other states where interest rates can reach up to 400%.

Benefits and Risks of Payday Loans

Like any financial decision, payday loans come with advantages and disadvantages that borrowers must consider before taking out a loan. Here are some benefits and risks associated with payday loans:

Benefits:

  • Fast access to cash.
  • No upfront fees or collateral requirements.
  • No credit check necessary.
  • Can help build credit for borrowers who pay back their loans on time.

Risks:

  • High-interest rates and fees.
  • Short repayment period resulting in the loan becoming due on the borrower’s next payday.
  • May lead to a cycle of borrowing, where borrowers continuously take out new payday loans to pay off old ones.
  • May negatively impact the borrower’s credit score if not paid back on time.

While payday loans can be a helpful tool for individuals in need of quick cash, careful consideration should be made before deciding to take out a loan. Borrowers should develop a plan to pay back the loan on time and avoid taking out multiple payday loans to avoid falling into a cycle of debt.

Facts and Statistics about Payday Loans in Whiteface, Texas

  • In 2019, Texas residents took out more than 10 million payday loans, with over 1.5 million loans administered in West Texas alone.
  • The average payday loan in Texas is for $470 and carries an APR of 623.78%.
  • Texas passed payday loan reform laws in 2010 that mandated better transparency and borrower protections, including limiting loan rollovers to three over a 180-day period.
  • The median household income in Whiteface, Texas, is $31,250, while the poverty rate is 23.9%, making payday loans a potential option for residents facing unexpected expenses.

Apply Now and Connect with Payday Loan Lenders in Whiteface, Texas

If you’re a resident of Whiteface, Texas, and in need of quick cash, TheGuaranteedLoans can help connect you with payday loan lenders in your area. Our simple online application takes minutes to complete, and our network of trusted lenders can provide fast access to the funds you need. Remember, TheGuaranteedLoans is a connector service and not a direct lender, meaning we strive to facilitate your connection with potential lenders in our network. Apply now and get the financial assistance you need today!

F.A.Q.

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

The maximum amount that can be borrowed with a payday loan in Whiteface, 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 Whiteface, Texas?

Payday loans in Whiteface, 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.