Payday Loans in Dumas, Texas
Events happen, and we often find ourselves in a situation where we have to pay for some surprise bills. Consider submitting an application for a payday advance loan in Dumas, Texas, to see if you meet the requirements.
The loan process is quick and straightforward. To be qualified, borrowers must meet a few general requirements.
What is a Paycheck Advance Loan? What Can It Be Put Towards?
A payday advance loan is where the borrower will be extended a petite amount of funds on a short-term basis. This is considered an unsecured loan as no collateral is expected.
When surprise costs present themselves, such as missed rent or utility bills, auto fixes, health or vet bills, and so on, people commonly seek out payday loans.
Payday Advance Loan Requirements In Dumas, Texas
In Dumas, TX, payday loan borrowers are required to meet several criteria to qualify for a loan.
The borrower must:
- Prove that they live in Dumas, Texas
- Must be 18 years of age
- Have an income that they can prove that's at least $1,000 per month
- Give active contact details including phone number and email address
- Give their SSN
If a borrower does not satisfy the above rules, they will automatically be denied a payday advance loan. Ensure that you can provide the documentation required when applying.
Laws and Regulations Concerning Payday Loans in Dumas, Texas
Texas has ruled cash advance lending legal. Although, they have created the following rules and regulations for the cash advance lending market:
- An individual money lender cannot extend a loan in excess of $600. Borrowers may not possess greater than two active loans from different lenders. There is no minimum loan amount.
- There is no minimum loan term, the longest loan term length is 31 days. In Texas, borrowers are unable to rollover their loans.
- The fees and charges change for each loan lender. The service fees enacted by lenders on each loan or transaction are not considered interest. The service fees apply to each $100 loaned and can vary from 11% up to 15%.
- An interest rate is required to be mutually decided upon. APR can be as high as 369%.
Will Cash Advance Lenders in Dumas, TX, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will complete a credit check on you, still, even if you have no credit or less than optimal credit, you might still be eligible for a loan as long as you can prove that you can repay the loan. Lenders are commonly unbothered by your credit if you offer proof of income and a strategy to repay the loan.
Lenders will use a soft credit inquiry, which will not impact your credit score. This is only to get a look at your credit history and general information.
A hard credit pull, alternatively, needs your explicit consent. These credit pulls are performed for various purposes, including mortgages, credit cards, and more.
You might still be approved for a paycheck advance loan with poor credit in Dumas, TX, provided that you have proof of repayment.
So, when you request a loan, whether it is in person or online, double check that you have your income information at hand and any other documents verifying that you can repay the loan. The more evidence you show, the better chance your loan request will be granted.
When Will I Get My Money in Dumas, Texas?
When you get your funds truly relies on your lender as some lenders provide same-day paycheck advance loans, which means you will get your cash advance loan on the same day you request a loan, as long as you get an approval.
Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses typically close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not see your money until Monday.
If you're needing a same-day cash advance loan in Dumas, Texas, you will need to make sure you're applying by 10:30 am. All same-day funds 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 increase the likelihood that you see your loan on the day that you submit your application.
One additional consideration that you should be aware of is even if the money lender grants your loan request and posts the loan to your bank account, sometimes the bank won't release that deposit at that time. It's vital that you let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the funds earlier.
On the whole, it's wise to prepare ahead of time to receive your loan on the next business day. That way, you're not surprised if you cannot receive it on the same day.
Consider Working With Us
If you possess bad credit or no credit and are looking to get a cash advance loan, consider applying through us, as you usually have a higher chance of approval.
We partner with over one hundred different lenders who provide their services online. Much of the time you will see your loan on the next business day so ensure that you plan accordingly.
However, you can always locate the closest cash advance loan store to you and apply in person to boost the chances of receiving your funds on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport will work as well. Now and again, lenders may request proof of address, so take along a utility bill to the store too.
To find the nearest payday loan storefront, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Dumas, TX
Below you will find a list of payday loan companies offering their services in Dumas, Texas. If you can't find a lender near your location in Dumas, 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 Dumas, 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.