Texas is a big state, with many large cities. There will always be ordinances to control an online payday loans in Houston, Dallas or San Antonio for that matter. Short term loans in TX are regulated by the State government. Things may change over the next few months with an increase in federal regulations of payday loans, but there’s nothing new currently. One thing to keep in mind is the fact that Texas payday loans are a last resort. As with other types of short term funding, you will have loan with a high interest rate. There are many better funding options if you have them available to you. These options include installment loan funding and bank finance loans. We recently wrote about what your options are and how to avoid applying for emergency financing if you can!
There are many companies that offer online payday loans in Texas. We’ve counted over 600 in the Houston metro area and at least 300 in San Antonio alone! Now, some of these payday loan companies share the same company. For example, Ace Cash Express has dozens of retail locations in Dallas and Houston. Many of these finance and bank lenders offer instant loans online as well. One thing to remember when applying for an online payday loan in Texas. The laws are going to apply to online companies the same as retail locations. So if you live in Houston, you can apply for an installment loan or cash advance at a local retail location. You can also apply for a payday loan online. In most cases that involve online payday loans, there is no difference in how these lenders are regulated. Unfortunately, it’s not that easy. Many online car title lenders that offer loans to consumers are not actually in Texas. Some lenders aren’t even in the United States. This makes it very difficult for the state of Texas or even the local jurisdictions of Houston, San Antonio or Dallas to regulate them. All too often we see someone apply for a Texas payday loan with an offshore or non-direct lender. This may work out for the consumer and get them out of financial distress. We know that most offshore lenders are going to have higher interest rates and more rules than lenders in Houston or Dallas. Recently we spoke to a consumer in Dallas, Texas who applied for a payday loan online with a company that’s outside the United States. Let’s say that it didn’t work out well for the consumer.
There are many payday loan companies in San Antonio and Houston
Texas as a state has many freedoms when it comes to lending. With those freedoms come more opportunities for online payday lenders to take advantage of consumers who don’t know any better. It’s good that consumers have options to get a cash advance or installment loan. We don’t want to see them worse off than they were a while earlier. Find a cash advance company that offers loans in Dallas, San Antonio or Houston. You may want to check out our database of online payday loan companies in Texas. We update our list at least once a week and we try to make sure that the lenders we list are still operating and offering loans in Texas. As always, we recommend that you shop around for the best deal on Texas loans. This includes the best rate as well as loan terms. On that note, you may also want to check out what the current rules are about online cash advances in your specific city. For example, Dallas has restrictions in place that cover financial transactions. They say any Dallas resident who applies for a Texas payday loan must not exceed their monthly income by 20% or more. Cities like San Antonio and Houston have similar restrictions or are in the process of making changes to their city ordinances. We recently discussed the difference we’re seeing with online loans in Houston now and how they were issued a few years ago. Please read this article if you’re even considering taking out a payday loan in Houston. Even though it focuses on Houston payday loans, it also touches on many regulatory changes. These changes come into play with online loans throughout the entire state of Texas. Be sure to read our other articles that concern regulations, news and updates about payday loan companies in Texas. We’re sure there will be some updates coming out of Dallas and Houston later this year so stay posted!