Payday Loans in Brookesmith, Texas

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

Company nameAddressZip codePhone number
DolEx Dollar Express 4301 FM 517 Rd E, Dickinson, TX 77539 +1 (888) 246 - 2527
TitleMax Title Loans 3801 North St Suite 21, Nacogdoches, TX 75965 +1 (936) 215 - 6409
Western Finance 321 E Spring St Suite 107 A, Palestine, TX 75801 +1 (903) 723 - 0261
CommunityBank of Texas 918 S Margaret Ave, Kirbyville, TX 75956 +1 (409) 423 - 4602
United States Postal Service 301 E Lavielle St, Kirbyville, TX 75956 +1 (800) 275 - 8777
Action Finance, Inc. 2705 Lee St, Greenville, TX 75401 +1 (903) 454 - 2644
Check Express 906 E Broadway Ave, Sweetwater, TX 79556 +1 (325) 236 - 6326
Houston Cash Services 700 Milam St, Houston, TX 77002
Germania Credit Union 507 Hwy 290 E, Brenham, TX 77833 +1 (877) 635 - 9405
First Cash Pawn 317 W Expy 83, La Feria, TX 78559 +1 (956) 797 - 5772

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Brookesmith, 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 Loans in Cedar Park, TX, Payday Loan for Channelview, TX, 24-Hour Loan in College Station, TX, Payday Loans in Conroe, TX, Payday Loans in Coppell, TX, Payday Loans in Copperas Cove, TX and 24-Hour Loan 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 Brookesmith, TX.

Are Payday Loans Legal In Brookesmith, 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

Brookesmith, TX payday loan calculator

Payday loans are short-term loans that are designed to help you financially until your next payday. They are a quick and easy way to get cash when you need it. Payday loans are popular in the United States and are legal in Texas too. In this article, we will explore everything you need to know about payday loans in Brookesmith, Texas, including how they work, their benefits and drawbacks, and the regulations surrounding them.

How do payday loans work, and what are they used for?

Payday loans are designed to help you bridge the gap between paychecks. They are short-term loans that are generally due on your next payday. The amount you can borrow varies depending on your income and the lender’s rules. Typically, payday loans range from $100 to $1000.

If you need money fast, payday loans can be a good option. They can be used for a wide variety of purposes, including paying bills, covering unexpected expenses, or making a small purchase. But, they should never be used as a long-term solution to your financial problems as they have very high-interest rates and fees.

What are the benefits and drawbacks of payday loans in Brookesmith, Texas?

Payday loans have benefits and drawbacks, and it’s essential to weigh them before deciding to take one.

Benefits:

  • Easy to obtain – payday loans have minimal requirements when compared to traditional loans. You only need to be 18 years or older, have a steady income and a valid bank account.
  • Fast – payday loans can be approved quickly, and funds can be deposited into your account in as little as one business day, or even the same day.
  • Convenient – Payday loans can be acquired online making it possible for you to apply anytime, anywhere.

Drawbacks:

  • High-interest rates and fees – Since payday loans are short-term loans, the interest rates and fees are higher than other types of loans. This means that you will pay back more than you borrowed, making it more challenging to keep up with payments.
  • Potential for debt – If you are not careful, you can fall into a cycle of debt. Taking out multiple payday loans to cover expenses can lead to a difficult financial situation.
  • Not a long-term solution – As mentioned earlier, payday loans should not be used as a long-term solution to your financial problems. They can help you in a financial emergency, but they are not suitable for long-term debt.

Are there regulations surrounding payday loans in Brookesmith, Texas?

Yes, Texas has strict regulations in place to protect consumers from predatory lending practices. In Texas, payday loans are governed by Texas Finance Code Ann § 342. This code includes specific rules for:

Maximum Loan Amount

In Texas, the maximum amount you can borrow for a payday loan is $1000.

Loan Term

The term of the loan is from seven days to 180 days.

Finance Charges

The finance charges for a payday loan are regulated in Texas. The maximum finance charge allowed by Texas law is $10 per $100 borrowed.

Collections

Collection practices for payday loans are regulated by Texas law. Payday lenders cannot threaten criminal prosecution or use any other illegal or unethical collection practices.

Interesting Facts and Statistics about Payday loans in Brookesmith, Texas

  • According to the Consumer Financial Protection Bureau (CFPB), payday lenders charge an average of 400% APR on their loans.
  • In Texas, there were approximately 23,000 payday and auto title lending locations in 2019.
  • The number of payday loan locations in Texas is more than the number of McDonald’s and Starbucks combined.
  • Studies have shown that payday loans disproportionately affect low-income individuals and people of color.

Apply Now

If you are in need of a payday loan, TheGuaranteedLoans can help you connect with potential lenders in Brookesmith, Texas. We are not a direct lender, but we are a connector service dedicated to helping people find the best loan options for their needs and ability to repay. Fill out our online application today, and we can help you get the money you need quickly and easily.

F.A.Q.

Can I obtain a payday loan in Brookesmith, Texas if I have bad credit?

Yes, payday loans in Brookesmith, Texas are typically available to individuals with bad credit. Lenders do not typically require a credit check, but may still require proof of income and a valid checking or savings account.

How long does it take to receive a payday loan in Brookesmith, Texas?

The amount of time it takes to receive a payday loan in Brookesmith, Texas varies by lender. Some lenders may be able to provide the loan funds within a few hours, while others may take several days. It is important to research and compare lenders to determine which option is best for your needs.