Texas Payday Loan: Information You Need About A Texas Payday Loan

Texas is one of the many states in which payday loans are legal, and relatively easy to obtain.  If you are planning to apply for a Texas payday loan, some facts can make it a simple, stress-free experience.


Best Texas Payday Loan

No
Provider
Review
APR
Visit Site
1
AmeriAdvance
Varied
Go to AmeriAdvance
2
Paydaymax
431.79%-616.85%
Paydaymax
3
Plain Green Loans
59.84% �?378.95%
Go to Plain Green Loans
4
MyCashNow
401.13%-573.05%
MyCashNow
5
Discount Advances
401.13%-573.05%
Discount Advances
6
100 Day Loans
36%�?51.79%
100 Day Loans
7
Cashnet USA
243.25%�?83.04%
Cashnet USA
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Check City
Varied
Check City
9
Cash Central
Varied
Cash Central
10
CashAdvance
Varied
Go to CashAdvance.com

Texas State Payday Loan Law Overview

Texas does not place any restrictions on the maximum amount of payday loans.  The amount of cash you can borrow is determined by the lender.  Your income, the lender’s own policies, and whether or not you are a first-time borrower, are the factors used to determine the maximum amount of your loan.

In Texas, you must have at least seven days to repay payday loans.  The loan can be held up to thirty-one days.  Unless a different date has been specified in advance, borrowers are generally expected to repay loans in full on their next regular pay day.  The loans are meant to be a way to obtain short-term cash between pay dates.

Texas does not allow traditional extensions on payday loans.  If a borrower requires a payment arrangement to repay a payday loan, it can include extra fees.

A lender can charge up to 48% annual interest, 10% per loan, plus a monthly fee of twelve dollars.  As an example, a $100. loan that is held for fourteen days can carry an APR of up to 309%.  Lenders who offer payday loans at payday lending stores are required by law to display full information about their fees and finance charges.  The overall cost of a loan in Texas is relatively high in comparison to most other states.

If you default on a Texas payday loan, the lender can take legal action against you.  This can be in the form of a civil lawsuit.  However, the law protects you against harassment, wage garnishments, and similar actions.  The way to avoid these complications is to repay a loan when it is due, or contact the lender to request a payment arrangement if you are unable to repay.

As payday loans are legal in Texas, opportunities to borrow can be found in payday lending stores throughout the state, as well as through online lenders.  Online lenders who do business legitimately will abide by the laws where the borrower resides.  Borrowers should never apply for loans from lenders who attempt to bypass state laws.  Fortunately, a Texas payday loan is legal and affordable to nearly any Texas resident who needs one.

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