Payday Loans in Pampa, Texas
Life happens, and we often end up in a situation where we must cover some unexpected costs. Consider submitting an application for a cash advance loan in Pampa, Texas, to see if you qualify.
The loan process is fast and painless. To be qualified, borrowers must satisfy a few straightforward criteria.
What is a Payday Loan? What Can It Pay For?
A cash advance loan is where the borrower will receive a small sum of funds on a short-term contract. This is deemed to be an unsecured loan because no collateral is needed.
When unexpected bills present themselves, like missed rent or utility fees, auto bills, medical or vet fees, and so on, people commonly rely upon payday advance loans.
Cash Advance Loan Criteria In Pampa, TX
In Pampa, Texas, paycheck advance loan borrowers must meet a few criteria to qualify for a loan.
The borrower has to:
- Provide proof that they are a resident of Pampa, TX
- Must be 18 or older
- Receive a steady income that they can provide proof of being at least $1,000/month
- Give active contact information like 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 cash advance loan. Ensure that you have the documentation needed when submitting your application.
Laws and Regulations Concerning Payday Loans in Pampa, Texas
The State of Texas has ruled payday advance lending legal. Although, they have put forth the below rules and laws for the payday advance lending industry:
- A single money lender cannot offer a loan for more than $600. Borrowers cannot 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 the State of Texas, borrowers may not rollover their loans.
- The fees and charges are different for each loan lender. The service fees charged by the lender on a cash advance loan are not considered interest. The service fees apply to every $100 loaned and can range between 11-15%.
- An interest rate must be mutually decided upon. APR can be as high as 369%.
Will Payday Lenders in Pampa, Texas, Perform Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will perform a credit check on you, but, even if you possess no credit or dismal credit, you may still be approved for a loan as long as you can prove that you can pay back the loan. Lenders are commonly unbothered by your credit history if you possess proof of income and a plan to repay the loan.
Lenders will conduct a soft credit check, which will not impact your credit score. This is simply to get an idea of your credit history and basic information.
A hard credit check, dissimilarly, must have your permission. These credit inquiries are done for various purposes, such as mortgages, credit cards, and more.
You may still be approved for a payday advance loan with poor credit in Pampa, TX, as long as you can prove you will repay the loan.
So, when you apply, albeit in person or online, make sure that you have your income information easily accessible and any other documents showing that you can pay back the loan. The more proof you possess, the better chance your loan application will be approved.
When Will I Get My Money in Pampa, TX?
When you receive your deposit actually relies on the lender as some lenders provide same-day cash advance loans, which means you will get your payday advance loan on the same day you request a loan, as long as you're approved.
Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. So, if you apply on a Friday, you might not receive your money until Monday.
If you're needing a same-day payday loan in Pampa, Texas, you will need to ensure 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 able, as it will boost the likelihood that you receive your loan on the same day that you submit your application.
One other consideration 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 deposit at that time. It's paramount that you let your bank know that you plan to receive a payday 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 receive your deposit on the next business day. That way, you're not surprised if you cannot get it on the same day.
Consider Working With Us
If you have bad credit or no credit and are needing to secure a cash advance 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. Often you will receive your funds on the following business day so make sure that you plan appropriately.
Although, you can always find the closest payday loan storefront to you and apply in person to boost the chances of receiving your loan on the same 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. Occasionally, lenders may require proof of address, so bring a utility bill to the store too.
To locate the nearest payday loan store, please refer to the list below and locate your city.
Payday Loan Direct Lender Companies in Pampa, TX
Below you will find a list of payday loan companies offering their services in Pampa, Texas. If you can't find a lender near your location in Pampa, 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 Pampa, 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.