Payday Loans in Wichita Falls, Texas
Things happen, and we usually end up in a spot where we must pay for some unexpected bills. Consider applying for a payday advance loan in Wichita Falls, TX, to see if you qualify.
The loan process is fast and simple. To be eligible, you must satisfy a couple of simple requirements.
What is a Payday Advance Loan? What Can It Pay For?
A paycheck advance loan is where the borrower will be extended a small sum of cash on a short-term basis. This is considered an unsecured loan as no collateral is needed.
When surprise costs arise, like past due rent or utility fees, car repairs, medical or vet costs, and so on, people frequently turn to cash advance loans.
Payday Loan Stipulations In Wichita Falls, TX
In Wichita Falls, Texas, payday loan borrowers need to satisfy several requirements to qualify for a loan.
The borrower is required to:
- Provide proof that they live in Wichita Falls, Texas
- Must be 18 years old
- Have an income that they can provide proof of being at least $1,000 per month
- Provide up-to-date contact details like cell phone number and email address
- Give their social security number
If a borrower does not abide by the above rules, they will automatically be denied a payday advance loan. Ensure that you can provide the documents needed when requesting a loan.
Laws and Rules Regarding Cash Advance Loans in Wichita Falls, Texas
Texas has deemed payday lending legal. However, they have put forth the below rules and regulations for the paycheck advance lending industry:
- A single lender cannot offer a loan in excess of $600. Borrowers may not take out 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 the State of Texas, borrowers are not allowed to rollover their loans.
- The fees and charges are different for each lender. The service fees enacted by lenders on each loan or transaction 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 agreed upon. APR can be as high as 369%.
Will Cash Advance Lenders in Wichita Falls, Texas, Perform 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, still, even if you possess no credit or less than optimal credit, you might still be approved for a loan provided you can show that you can pay back the loan. Lenders are generally unbothered by your credit if you provide proof of income and a strategy to pay back the loan.
Lenders will use a soft credit check, which will not impact your credit score. This is solely to get an idea of your credit history and basic information.
A hard credit inquiry, alternatively, requires your explicit consent. These credit checks are done for a variety of purposes, such as mortgages, credit cards, and more.
You might still qualify for a payday loan with less than great credit in Wichita Falls, Texas, provided that you can prove you will repay the loan.
So, when you request a loan, whether it is in person or online, make sure that you have your income information available and any other documents proving that you can repay the loan. The more proof you have, the better chance your loan request will be granted.
When Will I Get My Funds in Wichita Falls, Texas?
When you see your cash really relies on your lender as some lenders provide same-day cash advance loans, which means you will see your cash advance loan on the same day you submit your application, as long as you're approved.
Much of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you submit your application on a Friday, you may not get your money until Monday.
If you're wanting a same-day payday advance loan in Wichita Falls, TX, you will need to ensure you're applying by 10:30 am. All same-day loans going out that day will be approved by that deadline. However, you should apply earlier than that if able, as it will increase the likelihood that you receive your money on the same day that you apply.
One more factor that you should know 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 deposit immediately. It's important to let your bank know that you plan to receive a payday advance loan, so they might make an exception in releasing the loan earlier.
On the whole, it's wise to prepare in advance to receive money on the following business day. That way, you're not surprised if you cannot get it on the same day.
Consider Borrowing From PaydayLoanRadar
If you possess poor credit or no credit and are searching to get a paycheck advance loan, consider applying with us, as you frequently have a higher chance of approval.
We partner with more than one hundred different lenders who provide their services online. Much of the time you will receive your cash on the following business day so make sure that you plan accordingly.
However, you can always locate the nearest payday advance loan store to you and apply in person to boost the chances of getting your funds 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 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 Wichita Falls, TX
Below you will find a list of payday loan companies offering their services in Wichita Falls, Texas. If you can't find a lender near your location in Wichita Falls, 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 Wichita Falls, 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.