Texas Payday Lenders has been around for a decade and we pride ourselves on customer service and the ability yo help everyone. Payday loans are small, short-term loans that are quickly made available in order for you to have immediate access to cash. These are a perfect option for when you need cash quickly, without having tons of paperwork or waiting for a long period of time in order to obtain the lending money that you need. There are several lenders to choose from when you contacting a payday loan store. Some have lower fees and will take a smaller amount of the loan, while many will have more fees and have a tougher process for approval. When you apply and are approved, the money will be available at their chosen time, usually within 24 hours of your loan approval.
Most payday loan offers are considered high risk, but the rates are generally lower than other types of loans out there. This saves you money in the long run. Rates are set on an annual percentage rate or APR. The APR states the average amount of interest a customer will pay on a loan over a 24-month period. Higher APR will cost you more the longer you wait to pay back your loan. Monthly fees for Payday loans in Texas start at only $15 to $30, depending on the lender. If you cannot pay back the loan in the time given, then additional fees will be added to the loan. When you apply for a payday loan online, you will usually have to write a check for the loan money that you request. If your check is not good, then you will further add on an additional fee for the extension of service, because the payday lender will keep your check.
The cost to extend your borrowing time is usually anywhere from $6 to $10 per $100 that you borrow. There may be some lenders that will have rate increases during the owner/ Sharon owes and the customer will be given time to pay the loan back without having additional fees added, but as with any lending, beware of lenders that will apply higher rates one month to loan a higher amount payback at a later date. Also, be aware of companies out there offering low rate fees up front and even setting the fee a few weeks into payback. The cost to extend a payday loan is much more than the short-term payoff, so be sure to ask all the possible questions and read all the fine print before taking a loan out. On average, Texas payday loans cover deposited checks, plus several hundred dollars more, as your short-term loan. When you request a payday loan, you get a deposit into a savings account for the length of the loan. If you do not pay back your loan on time, it will then be automatically withdrawn from the bank account that you deposited the money into.
Payday loans are a great and easy way to get some fast cash when you need it. If you choose to request this type of loan, then you will have a shorter return period, but because a payday loan is only for two weeks, if you do not have a bill to pay during the two weeks, you will have no payments to make. There are thousands of payday loan lenders in Texas, and their help if you try to be picky and choose wisely, but if you do not get of payday loan it can cause you a large amount of harassment, bad check fees, and in some cases, actual threats of violence from the payday lender.