Payday Loans in Hidalgo, Texas
Things happen, and we usually wind up in a situation where we have to pay for some surprise costs. Consider submitting an application for a cash advance loan in Hidalgo, TX, to see if you are eligible.
The loan process is fast and straightforward. To be eligible, you must meet a couple of basic criteria.
What is a Cash Advance Loan? What Can It Pay For?
A payday loan is where the borrower will receive a small sum of funds on a short-term agreement. This is considered an unsecured personal loan as no collateral is required.
When surprise financial needs present themselves, like past due rent or utility fees, vehicle fees, health or vet costs, and so forth, people usually rely upon paycheck advance loans.
Payday Loan Criteria In Hidalgo, Texas
In Hidalgo, Texas, payday loan borrowers must meet a few stipulations to qualify for a loan.
The borrower is required to:
- Provide proof that they live in Hidalgo, Texas
- Must be 18 years of age
- Receive a steady stream of income that they can provide proof of being at least $1,000/month
- Provide active contact information including cell phone number and email address
- Provide their social security number
If a borrower does not satisfy the above requirements, they will immediately be denied a payday loan. Ensure that you can provide the documentation required when submitting your application.
Laws and Regulations Concerning Cash Advance Loans in Hidalgo, TX
The State of Texas has ruled cash advance lending legal. However, they have created the following rules and regulations for the paycheck advance lending market:
- A single money lender can't extend a loan for more than $600. Borrowers may not possess greater than two unpaid loans from different lenders. There is no minimum loan amount.
- The minimum loan term is not determined, the maximum loan term length is 31 days. In Texas, borrowers may not rollover their loans.
- The fees and charges change for each lender. The service costs charged by the lender on a cash advance loan are not considered interest. The service fees apply to each $100 borrowed and can range between 11-15%.
- An interest rate is required to be mutually settled upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Hidalgo, TX, Complete Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will do a credit check on you, but, even if you have no credit or dismal credit, you may still be approved for a loan as long as you can prove that you are able to repay the loan. Lenders are commonly unbothered by your credit history if you offer proof of income and a plan to pay back the loan.
Lenders will conduct a soft credit inquiry, which will have no impact on your credit score. This is solely to get an idea of your credit history and basic information.
A hard credit check, alternatively, must have your explicit consent. These credit inquiries are utilized for a plethora of purposes, such as mortgages, credit cards, and more.
You might still qualify for a payday loan with imperfect credit in Hidalgo, Texas, if you can prove you will repay the loan.
Therefore, when you apply for a loan, albeit in person or online, double check that you have your income information easily accessible and any other documents proving that you can pay back the loan. The more evidence you possess, the more likely your loan application will be approved.
When Will I See My Cash in Hidalgo, TX?
When you see your deposit actually depends on your lender as some lenders advertise same-day payday loans, which means you will see your payday loan on the same day you request a loan, as long as you receive an approval.
Most of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. Therefore, if you apply on a Friday, you may not see your cash until Monday.
If you're needing a same-day cash advance loan in Hidalgo, TX, you will need to be sure that you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that deadline. However, you should request a loan earlier than that if possible, as it will boost the likelihood that you receive your loan on the same day that you apply.
One more factor that you should be aware of is even if the lender approves your application and posts the loan to your checking account, sometimes the bank won't release that deposit right away. It's paramount that you let your bank know that you plan to get a payday loan, so they might make an exception in releasing the loan earlier.
On the whole, it's wise to prepare in advance to receive your loan on the next business day. That way, you're not surprised if you cannot get it on the same day.
Think About Borrowing From Us
If you have underwhelming credit or no credit and are wanting to secure a payday advance loan, think about applying through us, as you most likely have a better chance of approval.
We partner with more than one hundred different lenders who provide their services online. Much of the time you will get your deposit on the following business day so ensure that you plan correctly.
Although, you can always locate the closest paycheck advance loan store to you and apply in person to strengthen the chances of receiving your money on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store too.
To find the nearest payday loan store, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Hidalgo, TX
Below you will find a list of payday loan companies offering their services in Hidalgo, Texas. If you can't find a lender near your location in Hidalgo, 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 Hidalgo, 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.