Payday Loans in Lufkin, Texas
Things happen, and we usually find ourselves in a spot where we must pay for some unexpected expenses. Consider applying for a payday advance loan in Lufkin, TX, to see if you are eligible.
The application process is fast and straightforward. To be eligible, borrowers have to satisfy a couple of simple criteria.
What is a Cash Advance Loan? What Can It Cover?
A paycheck advance loan is where the borrower will get a petite sum of funds on a short-term contract. This is considered an unsecured personal loan because no collateral is expected.
When unforeseen expenses present themselves, such as missed rent or utility fees, auto fixes, medical or vet fees, and so forth, people usually seek out cash advance loans.
Paycheck Advance Loan Requirements In Lufkin, Texas
In Lufkin, TX, payday advance loan borrowers must meet a few requirements to be eligible for a loan.
The borrower is required to:
- Provide proof that they live in Lufkin, TX
- Must be 18 years old
- Have a steady stream of income that they can prove that's at least $1,000/month
- Give current contact details such as cell phone number and email address
- Give their social security number
If a borrower does not satisfy the above rules, they will automatically be denied a cash advance loan. Make sure you can provide the documentation needed when submitting your application.
Laws and Rules Concerning Cash Advance Loans in Lufkin, Texas
The State of Texas has ruled payday lending legal. Still, they have put forth the below rules and laws for the cash advance lending market:
- A single money lender can't offer a loan for more than $600. Borrowers may not possess more than two active 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 are unable to rollover their loans.
- The fees and charges are different for each loan lender. The service costs charged by lenders on a loan do not fall under interest. The service fees apply to each $100 borrowed and can vary between 11-15%.
- An interest rate must be mutually settled upon. APR can be as much as 369%.
Will Paycheck Advance Lenders in Lufkin, TX, Complete 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, but, even if you have no credit or less than stellar credit, you might still be approved for a loan as long as you can show that you can pay back 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 use a soft credit check, which will have no impact on your credit score. This is simply to get an idea of your credit history and general information.
A hard credit inquiry, alternatively, requires your permission. These credit pulls are performed for a variety of purposes, including mortgages, credit card applications, and more.
You might still be approved for a cash advance loan with poor credit in Lufkin, Texas, as long as you can prove you will repay the loan.
So, when you apply for a loan, albeit in person or online, ensure that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more evidence you have, the more likely your loan application will be approved.
When Will I See My Money in Lufkin, Texas?
When you see your money really depends on the lender as some lenders offer same-day cash advance loans, which means you will see your paycheck advance loan on the same day you submit your application, as long as you receive an approval.
Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Because of this, if you submit your application on a Friday, you may not receive your money until Monday.
If you're searching for a same-day paycheck advance loan in Lufkin, Texas, you will need to be sure that you're applying by 10:30 am. All same-day deposits going out that day will be approved by that time. However, you should submit an application earlier than that if possible, as it will boost the likelihood that you get your cash on the day that you apply.
One additional factor that you should understand is despite if the money lender grants your loan request and posts the loan to your checking account, occasionally the bank won't release that loan right away. It's paramount that you let your bank know that you plan to receive a payday advance loan, so they might make an exception in releasing the money earlier.
Overall, it's best to prepare in advance to get your funds on the next business day. That way, you're not left in the lurch if you cannot receive it on the same day.
Think About Borrowing From Us
If you have poor credit or no credit and are searching to get a payday loan, think about applying through us, as you frequently have a better chance of approval.
We partner with more than one hundred different lenders who provide their services online. Frequently you will see your loan on the following business day so ensure that you plan accordingly.
Although, you can always locate the closest payday advance loan storefront to you and apply in person to strengthen the chances of getting your funds on the same business day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may ask for proof of address, so bring a utility bill to the store as well.
To find the nearest paycheck advance loan store, please navigate to the list below and search for your city.
Payday Loan Direct Lender Companies in Lufkin, TX
Below you will find a list of payday loan companies offering their services in Lufkin, Texas. If you can't find a lender near your location in Lufkin, 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 Lufkin, 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.