Payday Loans in Lexington, Texas

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

Company nameAddressZip codePhone number
Security Finance 805 Hillcrest Dr, Vernon, TX 76384 +1 (940) 552 - 2088
Big Country Loan Co 1255 S Danville Dr, Abilene, TX 79605 +1 (325) 673 - 2220
Check n Go 4706 N Midkiff Rd Ste 14, Midland, TX 79705 +1 (432) 694 - 0780
Texas Car Title & Payday Loan Services, Inc. 1902 US-281, Marble Falls, TX 78654 +1 (830) 693 - 0638
West Texas National Bank 720 Andrews Hwy, Crane, TX 79731 +1 (432) 558 - 3533
Mortgage Specialists USA 440 Louisiana St 900, Houston, TX 77002 +1 (713) 236 - 7777
EZMax Loans 1214 E Mockingbird Ln, Victoria, TX 77904 +1 (361) 573 - 5626
Republic Finance 1411 N Valley Mills Dr Suite 7, Waco, TX 76710 +1 (254) 224 - 5923
EZPAWN 111 E Houston St, Beeville, TX 78102 +1 (361) 358 - 3421
TitleMax Title Loans 1490 W Henderson St, Cleburne, TX 76033 +1 (817) 556 - 0490

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lexington, TX, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Conroe, TX, Emergency Loan in Coppell, TX, Payday Loans in Copperas Cove, TX, 24-Hour Loan in Corpus Christi, TX, Payday Loans in Dallas, TX, Guaranteed Loans in Deer Park, TX, Short-term Loans in Del Rio, TX and 24-Hour Loan in Denton, 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 Lexington, TX.

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

78947

Are Payday Loans Legal In Lexington, 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

Lexington, TX payday loan calculator

Payday loans have become increasingly popular in recent years due to their availability and accessibility. While these loans may be helpful for those facing financial difficulties, it is important to understand the risks involved and the regulations in place to protect borrowers. In this article, we will explore the world of payday loans in Lexington, Texas, providing readers with a comprehensive guide to these short-term loans.

What Are Payday Loans?

Payday loans are short-term loans designed to provide borrowers with quick access to cash. These loans are typically due on the borrower’s next payday and are often used to cover unexpected expenses such as car repairs, medical bills, or home repairs. Payday loans typically range from $50 to $1,000, with the loan amount depending on the borrower’s income and credit history.

How Do Payday Loans Work in Lexington, Texas?

Payday loans are legal in Texas, including Lexington. To obtain a payday loan in Lexington, borrowers must provide proof of income and a valid checking account. The lender will then assess the borrower’s creditworthiness and offer a loan amount ranging from $50 to $1,000.

Once the loan amount has been approved, the funds will typically be deposited into the borrower’s checking account within 24 hours. The borrower agrees to pay back the loan amount, plus interest and fees, on their next payday.

The Risks of Payday Loans

While payday loans may be helpful in some situations, there are risks associated with these loans. The main risk is the high-interest rates and fees charged by lenders. These fees can add up quickly, making it difficult for borrowers to repay the loan on time.

In addition, many payday loan lenders are known for predatory lending practices, targeting low-income and vulnerable borrowers. These lenders may offer loans with high-interest rates and hidden fees, trapping borrowers in a cycle of debt.

The Laws and Regulations in Lexington, Texas

While payday loans are legal in Texas, there are strict laws and regulations in place to protect borrowers. The state of Texas has a maximum loan amount of $1,000 and a maximum interest rate of 10%. In addition, lenders are required to clearly disclose the terms and conditions of the loan, including the interest rate and fees charged.

It is important for borrowers to understand their rights and to research lenders before taking out a payday loan. The Texas Office of Consumer Credit Commissioner is a valuable resource for borrowers, providing information on the laws and regulations governing payday loans in the state.

Applying for a Payday Loan in Lexington, Texas

If you are considering a payday loan in Lexington, it is important to do your research and find a reputable lender. TheGuaranteedLoans is a connector service that can help you find a lender in Lexington, Texas. We are not a direct lender, but we can facilitate your connection with potential lenders in the area.

To apply for a payday loan on our website, simply fill out the online application form and provide the required information. We will then match you with potential lenders in Lexington, Texas, and provide you with a list of loan offers. You can then choose the loan offer that best suits your needs and complete the application process with the lender.

Interesting Facts and Statistics about Payday Loans in Lexington, Texas

  • On average, Texans take out about $500 million in payday loans each year.
  • The use of payday loans in Texas increased by more than 20% between 2012 and 2015.
  • In 2016, the average APR on a payday loan in Texas was 454%, nearly triple the national average.

These statistics highlight the growing popularity of payday loans in Texas, but also underscore the need for borrowers to be aware of the risks involved.

Conclusion

Payday loans can be a helpful option for those facing financial difficulties, but it is important to use them responsibly and understand the risks involved. In Lexington, Texas, payday loans are legal, but there are strict laws and regulations in place to protect borrowers. If you are considering a payday loan in Lexington, be sure to research your options and find a reputable lender. TheGuaranteedLoans can help you find a lender in Lexington, Texas, and facilitate your connection with potential lenders.

Apply Now

If you need cash in a hurry and are considering a payday loan in Lexington, Texas, apply now on TheGuaranteedLoans website. We can help you find a lender in the area and facilitate your connection with potential lenders. Remember, payday loans are a short-term solution and should only be used as a last resort.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Lexington, Texas?

Yes, if you default on a payday loan in Lexington, Texas, the lender may take legal action against you to collect the debt. This could include filing a lawsuit or obtaining a court order to garnish your wages. It is important to communicate with your lender and seek legal advice if you are unable to make your loan repayment.

Are there any alternatives to payday loans in Lexington, Texas?

Yes, there are several alternatives to payday loans in Lexington, Texas, such as small consumer loans, credit union loans, and installment loans. These options may have lower interest rates and more flexible repayment terms, but it is important to compare the terms and conditions of each option before deciding on a lender.