Cash Advance and Payday Loans in Irving, TX
Many consumers facing an unexpected expense, crisis, or other financial emergency seek short-term loans as a reliable financial solution. Cash advances are one form of short-term loan option for emergencies. Payday loans, another short-term loan option, are also suitable for times when you need immediate funds.
Residents of Irving, Texas, can take advantage of payday loans, a type of loan designed to be repaid within two weeks or until the borrower’s next paycheck arrives. That being said, Texas State law has strict limitations and regulations by which borrowers and lenders must abide. For further information about consumer rights and lender responsibilities, Texas residents can check out the Texas State Law Library.
Advantages of Taking Out Payday Loans in Irving
There are many advantages to taking out payday loans in Irving, TX. Some advantages include:
- Fast cash transfer from direct payday lenders to their borrowers
- Straightforward and user-friendly loan request forms
- Bad credit may be less of an issue
How to Get a Cash Advance and Payday Loan in Irving?
The many storefront lenders in Irving, TX, are a viable cash resource. However, some consumers prefer online lenders, who give you the ability to request the cash from anywhere. Online payday loans may require the following information from borrowers to ensure a secure transaction:
- Personal information for legal identification, such as name, address, phone number, and email address
- The borrower’s bank account number
- Income source information, such as the employer’s name or company name
Cash Advance and Payday Loans Requirements
Lenders in Irving, Texas, just other lenders in other states, have requirements for requesting a loan, including:
- The borrower must be 18 years old.
- The borrower must provide a social security number.
- The borrower must be a resident of Irving, Texas, and be able to show proof of residency.
- The borrower’s income source must be at least $1,000.
- The borrower must have a current phone number and email address.
Specific requirements may vary by lender.
Cost and Regulations of Cash Advance and Payday Loans in Irving, TX
Before requesting a cash advance or payday loan, applicants should take into account Texas rules and regulations. There is no minimum amount for a cash advance or payday loan in Texas, meaning that the lender is free to set their own minimum loan amount. The legal minimum loan term is seven days, with the maximum loan term depending on the amount borrowed. State law prohibits rollovers, and fees may depend on the loan amount borrowed. The annual percentage rate can be up to 662%.
For more information about general rules and regulations for short-term loans in Irving, Texas, review state regulations.
Installment Loans in Irving
As the name indicates, installment loans allow borrowers to pay back their debt with scheduled repayments. Installment loans benefit customers who have low credit scores or want the comfort of a repayment plan rather than pay the entire loan amount upfront. Sometimes, payday loan lenders allow their customers to extend their loan term for up to a year.
Requesting Title Loans in Irving
Just like traditional banks and financial institutions, online direct lenders offer title loans. To qualify for a title loan, the borrower must put up their vehicle and the corresponding vehicle title as collateral; this can be a car, a truck, or a motorcycle. The application process for a title loan does not significantly differ from a regular payday loan application. Once the vehicle title is presented, and the standard loan paperwork complete, the lender will determine the collateral’s worth. The vehicle’s value will determine the maximum loan amount. The requirements for title loans in Irving differ from regular payday loans. Borrowers may be required to present the following:
- Current, valid identification
- Proof of residency in Irving, Texas
- Employer reference proving income
- Photos of the vehicle to be used as collateral
- Lien-free car title
Best Irving, TX Cash Advance and Payday Loan Companies
The storefront and online options for payday loans are bountiful in Irving, Texas.
Advance America has a physical location along with a reliable website. They offer payday loans, installment loans, title loans, and lines of credit.
Cash Store is another reliable payday loan option with plenty of stores in Irving, Texas. Customers have the luxury of applying through their website, on the phone, or even physically at a store location. Similar to Advance America, the online process is quick and straightforward.
With the number of online and storefront options in Irving, research is a must. Be sure to look into all your options before requesting an online payday loan.