Payday Loans in Lubbock, Texas
Life happens, and we often wind up in a place where we must cover some unexpected expenses. Consider submitting an application for a cash advance loan in Lubbock, Texas, to see if you are eligible.
The application process is fast and effortless. To be eligible, you must meet a few straightforward conditions.
What is a Paycheck Advance Loan? What Can It Cover?
A paycheck advance loan is where the borrower will be extended a small sum of funds on a short-term basis. This is deemed to be an unsecured personal loan as no collateral is expected.
When unexpected expenses arise, such as past due rent or utility payments, vehicle repairs, medical or vet bills, and so on, people often seek out payday advance loans.
Cash Advance Loan Criteria In Lubbock, TX
In Lubbock, Texas, payday advance loan borrowers need to satisfy a few stipulations to be eligible for a loan.
The borrower is required to:
- Prove that they live in Lubbock, TX
- Must be 18 years of age
- Have a steady stream of income that they can provide proof of being at least $1,000/month
- Give up-to-date contact information including phone number and email address
- Give their social security number
If a borrower does not abide by the above criteria, they will automatically be denied a payday loan. Ensure that you can provide the documents needed when requesting a loan.
Laws and Regulations Regarding Cash Advance Loans in Lubbock, Texas
Texas has deemed payday lending legal. Although, they have put forth the below rules and laws for the payday advance lending industry:
- An individual money lender cannot offer a loan greater than $600. Borrowers may not have greater than two outstanding loans from different lenders. There is no minimum 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 change for each money lender. The service fees enacted by the lender on a payday loan are not considered interest. The service fees apply to every $100 loaned and can vary from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Paycheck Advance Lenders in Lubbock, Texas, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we partner with will run a credit check on you, but, even if you possess no credit or dismal credit, you might still be eligible for a loan as long as you can show that you can repay the loan. Lenders are typically unbothered by your credit if you offer proof of income and a plan to pay back the loan.
Lenders will conduct a soft credit pull, which will not impact your credit score. This is solely to get an idea of your credit history and general information.
A hard credit check, alternatively, needs your permission. These credit pulls are performed for a plethora of purposes, including mortgages, credit cards, and more.
You may still be approved for a payday loan with less than great credit in Lubbock, TX, if you have proof of repayment.
Therefore, when you apply, whether it is in person or online, ensure that you have your income information ready and any other documents proving that you can repay the loan. The more proof you provide, the better chance your loan request will be granted.
When Will I Receive My Deposit in Lubbock, Texas?
When you receive your funds truly depends on your lender as some lenders provide same-day payday loans, which means you will receive your cash advance loan on the same day you apply, as long as you're approved.
Much of the time, though, lenders will give the borrower their lump sum on the next business day. Businesses often close for holidays and weekends. So, if you apply on a Friday, you might not see your cash until Monday.
If you're searching for a same-day payday advance loan in Lubbock, TX, you will need to make sure you're applying by 10:30 am. All same-day deposits going out that day will be approved by that time. However, you should apply earlier than that if possible, as it will boost the likelihood that you get your cash on the same day that you submit your application.
One other consideration that you should understand is even if the lender approves your application and posts the credit to your bank account, occasionally the bank won't release that credit immediately. It's vital that you let your bank know that you plan to get a paycheck advance loan, so they might make an exception in releasing the money earlier.
On the whole, it's best to prepare ahead of time to receive your loan on the following business day. That way, you're not left in the lurch if you cannot get it on the same day.
Think About Borrowing From Us
If you have less than great credit or no credit and are wanting to get a cash advance loan, consider applying with us, as you most likely have a higher chance of approval.
We work with more than one hundred different lenders who offer their services online. Much of the time you will get your cash on the next business day so make sure that you plan accordingly.
However, you can always locate the closest paycheck advance loan storefront to you and apply in person to boost the chances of getting your money on the same day. When applying in person, ensure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may request proof of address, so take along a utility bill to the store too.
To locate the nearest payday advance loan store, please refer to the list below and search for your city.
Payday Loan Direct Lender Companies in Lubbock, TX
Below you will find a list of payday loan companies offering their services in Lubbock, Texas. If you can't find a lender near your location in Lubbock, 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 Lubbock, 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.