Payday Loans in Plainview, Texas
Events happen, and we usually end up in a place where we must cover some surprise expenses. Think about submitting an application for a paycheck advance loan in Plainview, Texas, to see if you meet the requirements.
The application process is fast and straightforward. To be qualified, loan borrowers must meet a few simple conditions.
What is a Payday Advance Loan? What Can It Be Put Towards?
A cash advance loan is where the borrower will be extended a petite sum of cash on a short-term basis. This is thought of as an unsecured loan because no collateral is expected.
When surprise bills come up, like past due rent or utility bills, car bills, medical or vet expenditures, and so on, people often rely upon payday loans.
Payday Loan Criteria In Plainview, TX
In Plainview, TX, paycheck advance loan borrowers must satisfy several requirements to be eligible for a loan.
The borrower must:
- Show proof that they are a resident of Plainview, Texas
- Must be 18 years of age
- Receive a steady income that they can prove that's at least $1,000 per month
- Give up-to-date contact details including cell phone number and email address
- Provide their SSN
If a borrower does not satisfy the above rules, they will automatically be denied a payday advance loan. Make sure you have the documentation required when applying.
Laws and Rules Regarding Payday Advance Loans in Plainview, TX
Texas has ruled cash advance lending legal. However, they have set the below rules and regulations for the paycheck advance lending market:
- A single lender cannot extend a loan in excess of $600. Borrowers are not allowed to 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 are not allowed to rollover their loans.
- The fees and charges change for each lender. The service costs charged 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 agreed upon. APR can be as high as 369%.
Will Payday Advance Lenders in Plainview, TX, Perform Credit Checks? What If I Have Dismal/No Credit History At All?
Yes, the lenders we work with will run a credit check on you, still, even if you have no credit or poor credit, you might still be approved for a loan provided you can show that you can repay the loan. Lenders are generally unconcerned about your credit if you have proof of income and a plan to repay the loan.
Lenders will conduct a soft credit pull, which will have no impact on your credit score. This is solely to get an idea of your credit history and general information.
A hard credit pull, alternatively, needs your permission. These credit pulls are used for a variety of purposes, including mortgages, credit cards, and more.
You might still be approved for a paycheck advance loan with imperfect credit in Plainview, TX, if you can prove you will repay the loan.
So, when you request a loan, albeit in person or online, double check that you have your income information ready and any other documents verifying that you can pay back the loan. The more proof you have, the more likely your loan request will be granted.
When Will I Get My Funds in Plainview, Texas?
When you get your cash really relies on the lender as some lenders advertise same-day payday loans, which means you will get your payday advance loan on the same day you apply, as long as you're approved.
Much of the time, though, lenders will send the borrower their lump sum on the next business day. Businesses generally close for holidays and weekends. Therefore, if you apply on a Friday, you may not receive your funds until Monday.
If you're wanting a same-day payday loan in Plainview, TX, you will need to ensure you're applying by 10:30 am. All same-day funds 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 see your funds on the same day that you submit your application.
One more factor that you should understand is even if the money lender approves your application and posts the deposit to your bank, sometimes the bank won't release that funds at that time. It's paramount that you let your bank know that you plan to receive a cash advance loan, so they could possibly make an exception in releasing the funds earlier.
Overall, it's wise to prepare ahead of time to receive your funds on the following business day. That way, you're not surprised if you cannot receive it on the same day.
Think About Working With Us
If you have poor credit or no credit and are searching to secure a paycheck advance loan, think about applying with us, as you probably have a better chance of approval.
We partner with hundreds of different lenders who offer their services online. Often you will see your cash on the following business day so ensure that you plan accordingly.
However, you can always locate the nearest payday advance loan store to you and apply in person to strengthen the chances of getting your loan on the same business day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may request proof of address, so take along a utility bill to the store too.
To find the nearest cash advance loan storefront, please use the list below and locate your city.
Payday Loan Direct Lender Companies in Plainview, TX
Below you will find a list of payday loan companies offering their services in Plainview, Texas. If you can't find a lender near your location in Plainview, 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 Plainview, 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.