Payday Loans in Abilene, Texas
Events happen, and we often find ourselves in a place where we have to cover some unexpected costs. Think about submitting an application for a payday loan in Abilene, TX, to see if you meet the requirements.
The application process is swift and effortless. To qualify, you have to satisfy a couple of simple criteria.
What is a Paycheck Advance Loan? What Can It Be Put Towards?
A paycheck advance loan is where the borrower will be extended a small sum of money on a short-term agreement. This is considered an unsecured personal loan as no collateral is required.
When unforeseen bills present themselves, for example past due rent or utility expenditures, vehicle fees, health or vet fees, and so forth, people often seek out cash advance loans.
Paycheck Advance Loan Stipulations In Abilene, TX
In Abilene, Texas, payday loan borrowers need to meet a few criteria to be eligible for a loan.
The borrower must:
- Prove that they live in Abilene, Texas
- Must be 18 or older
- Receive a steady stream of income that they can prove that's at least $1,000 per month
- Give up-to-date contact details like cell phone number and email address
- Give their social security number
If a borrower does not satisfy the above requirements, they will immediately be denied a payday advance loan. Ensure that you can provide the documents needed when applying for a loan.
Laws and Regulations Concerning Cash Advance Loans in Abilene, TX
Texas has ruled cash advance lending legal. However, they have enacted the below rules and regulations for the cash advance lending market:
- A single money lender cannot extend a loan in excess of $600. Borrowers may not have more than two unpaid loans from different lenders. There is no smallest loan amount.
- There is no minimum loan term, the maximum loan term length is 31 days. In Texas, borrowers cannot rollover their loans.
- The fees and charges vary for each lender. The service fees charged by the lender on a payday loan do not fall under interest. The service fees apply to each $100 borrowed and can range from 11% up to 15%.
- An interest rate is required to be mutually settled upon. APR can be as much as 369%.
Will Cash Advance Lenders in Abilene, TX, Run Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we partner with will complete a credit check on you, but, even if you have no credit or bad credit, you might still be eligible for a loan given that you can show that you are able to pay back the loan. Lenders are usually unbothered by your credit history if you offer proof of income and a strategy to repay the loan.
Lenders will use a soft credit check, which will not impact your credit score. This is solely to get a feel of your credit history and general information.
A hard credit pull, on the other hand, must have your explicit consent. These credit pulls are used for a variety of purposes, including mortgages, credit cards, and more.
You might still qualify for a cash advance loan with bad credit in Abilene, Texas, as long as you can prove you will repay the loan.
Therefore, when you request a loan, albeit in person or online, ensure that you have your income information ready and any other documents verifying that you can pay back the loan. The more evidence you possess, the more likely your loan application will be approved.
When Will I Get My Funds in Abilene, Texas?
When you see your money really depends on your lender as some lenders advertise same-day payday advance loans, which means you will get your cash advance loan on the same day you request a loan, as long as you're approved.
Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Because of this, if you submit your application on a Friday, you might not get your cash until Monday.
If you're wanting a same-day payday advance loan in Abilene, Texas, you will need to be sure that you're applying by 10:30 am. Any and all same-day deposits going out that day will be approved by that cut-off. However, you should submit an application earlier than that if able, as it will boost the likelihood that you get your cash on the day that you submit your application.
One additional factor that you should understand is even if the money lender grants your loan request and posts the loan to your bank, occasionally the bank won't release that loan immediately. It's vital that you let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the cash earlier.
On the whole, it's wise to prepare in advance to get your funds on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Consider Borrowing From Us
If you possess bad credit or no credit and are wanting to secure a payday advance loan, consider applying through us, as you probably have a better chance of approval.
We work with hundreds of different lenders who provide their services online. Often you will see your cash on the following business day so make sure that you plan appropriately.
However, you can always locate the closest payday advance loan store to you and apply in person to increase the chances of getting your loan on the same business day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may request proof of address, so bring a utility bill to the store too.
To find the nearest paycheck advance loan storefront, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Abilene, TX
Below you will find a list of payday loan companies offering their services in Abilene, Texas. If you can't find a lender near your location in Abilene, consider applying in a nearby city in Texas. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Abilene, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.