Texas Cash Advance Consumer Resource
Welcome to CashAdvance.com’s Texas Consumer Resource, your online information resource for cash advances in Texas. Texas has specific regulations and laws that guide the payday advance loan industry to protect consumers. In addition to specifics on the rules for payday loans, this page also offers information on the Texas payday loan process, how to protect yourself from predatory lending practices, consumer finance resources, and important news on the payday loan industry in Texas.
Check back here for the latest news on Texas payday loan regulations, important local developments, and tips on how to get the most from your cash advance experience.
If you find out any information that can help your fellow consumers in Texas, please feel free to submit articles, information, legislative news and other resources to texas@cashadvance.com.
For further information regarding cash advances within the various cities of Texas, please visit the links listed below in the Information by City section.
Information by City
- Abilene
- Amarillo
- Arlington
- Austin
- Beaumont
- Brownsville
- Carrollton
- Corpus Christi
- Dallas
- Denton
- El Paso
- Fort Worth
- Frisco
- Garland
- Grand Prairie
- Houston
- Irving
- Killeen
- Laredo
- Lewisville
- Lubbock
- Mcallen
- Mckinney
- Mesquite
- Midland
- Odessa
- Pasadena
- Plano
- Richardson
- Round Rock
- San Antonio
- Waco
- Wichita Falls
More Information about Texas
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Cash Advance in Texas
The cash lending industry is thriving in the big State of Texas. There are numerous companies all over the region, at least 1600, and most likely those numbers are on the rise. Below are a few facts about obtaining a cash advance in Texas.
Texas Cash Advance Laws
- Cash advance loans can be anywhere from one week to thirty-one days in duration and while a maximum amount isn’t specified, most lenders cap at $500. The Annual Percentage Rate is 48%, and borrowers will have to pay a monthly fee of $10.
- Laws regarding cash advances were introduced in Texas in 2000. All cash advance businesses must have a license. Texas law also states that a cash advance lender is a business that trades money for a borrower’s personal check. This law is also applicable to funds being exchanged for a borrower’s account debit authorization.
- A cash advance business cannot split a loan, which would then enable the company to charge fees on each split portion. The business also cannot bring criminal charges against any borrower who has defaulted on repayment of their loan.
- All cash advance companies must post a listing of their fees somewhere on the location of their business. And written agreements are also a requirement, stating the name of the lending company, the amount and date of the check that was issued, an itemization of all applicable fees and the date of deposit. The agreement must also state the APR fee and include pertinent contact information regarding the Consumer Credit Commissioner.
- A cash advance in Texas is meant for only short-term obligations, and this also needs to be stated in the written agreement.
Texas Unemployment Facts
Texas had an unemployment rate of 5.2% in the year 2006. Over 590,000 residents were out of work. In 2005, the unemployment rate was 5.9%. For the last ten years, the unemployment rate for the Lone Star state has been 7.5% or lower.
Online Lending Services
If you need a cash advance in Texas, you will find that the most convenient way to obtain one is through a lending service online. These companies can give you a loan very quickly in order to take care of your financial emergency. Immediate approval is usually a normal part of the procedure, and you can have your funds deposited into your checking account on the same day that you have filled out your application. Online cash advance sites are safe and secure, and your personal information will be kept confidential. You can obtain your emergency funds without the need to drive to a cash lending business, saving on time and gas.
Obtaining a cash advance in Texas does not need to be an unpleasant and lengthy transaction. Online services can have your funds ready for you quickly as long as you are 18 or older, have a checking account, reside in the United States, have a valid phone listing and have a regular paycheck. Do not let a financial emergency cause you needless frustration and worry when online services are available to help you through such situations.
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Consumer Notice: A cash advance, also referred to as a payday loan or payday advance, is a small, short-term loan that is intended to cover a borrower's expenses until the following payday. Cash advances are intended for short-term financial relief and do not constitute long-term financial solutions. Consumers facing debt and credit difficulties should seek out debt and credit advisory help. Consumers are encouraged to consult our State Consumer Resource pages to learn more about the risks involved with cash advances, local laws and regulations that may be applicable to cash advances, possible loan alternatives and recent developments in their state.
Legal Disclaimer: This website does not constitute an offer or solicitation to lend. CashAdvance.com is not a lender, does not broker loans, and does not make loan or credit decisions. The operator of this Web Site is not an agent, representative or broker of any lender and does not endorse or charge you for any service or product. CashAdvance.com provides a service only and is not acting as a representative, agent, or correspondent for any service provider or lender. CashAdvance.com's aim is to inform users of possible lenders who may be able to satisfy the needs of a particular consumer. CashAdvance.com does not endorse any particular service provider, lender, nor loan product. You are under no obligation to use CashAdvance.com's service to initiate contact, nor apply for credit or any loan product with any service provider or lender. Service providers or lenders will typically not perform credit checks with the three major credit reporting bureaus: Experian, Equifax, or Trans Union. However, credit checks or consumer reports through alternative providers such as Teletrack or DP Bureau, which typically will not affect your credit score, may be obtained by some service providers or lenders, in certain circumstances. You will not be charged any fees to use CashAdvance.com's service. Learn more on our Rates & Fees section.
Availability: Residents of some states may not be eligible for a short term cash loan based upon lender requirements. CashAdvance.com does not guarantee that completing an inquiry form will result in you being matched with a service provider or lender, being offered a loan product with satisfactory rates or terms, nor receiving a loan from a service provider or lender.