With over 1600 cash lenders in the state of Texas, it’s apparent that small loans are growing fast in our economy. Getting a cash advance in Fort Worth is a great way to help in times of crisis, such as paying medical bills or car repairs. These small loans, otherwise known as payday loans, are the widest available and easiest to obtain. They’re perfect for when you need small amounts of money in a short period of time, especially if your paycheck isn’t due right away. While cash advances have many advantages for borrowers, it’s important to be well-informed of the rules and regulations in the state of Texas, which avoids the risk that you’ll be taken advantage of by lenders.
To apply for a cash advance in Fort Worth is simple; paperwork takes just a few minutes and approvals are almost immediate. Most lenders are not phased by a low credit score and pay more attention to the loan amount and repayment period. When you do apply for a cash advance, you’ll need a valid driver’s license, proof of a steady income, and an active checking account. Many lenders also require that you leave a check behind for the amount of the loan and any applicable fees. That way, if you don’t repay the loan on time, the lender has a written check from you.
As most people are aware however, if you don’t have the funds to pay back the loan, the check will bounce, costing you additional fees from the bank. If you find yourself in a situation where you can’t pay back the loan on time, be sure to contact the lender immediately. For a cash advance in Fort Worth, borrowers can renew or roll-over their loan one time in 30 days. Although you will be expected to pay the fees and interest associated with the renewal loan, this is far better than allowing the loan to lapse.
In Fort Worth, borrowers can take out loans that are between $100 and $350. Most loan periods fall from one week to thirty-one days, with Annual Percentage Rates of 45%. A cash advance in Fort Worth may also have handling fees associated with it, such as for taking out amounts that are less than $75. Just like any payday loan, cash advances are perfect for short-term situations, when you need a small amount of money in a short amount of time. While convenient, you want to be sure that you’ll be paying back your loan within the specified loan period.
While there are plenty of rules that borrowers have to follow when taking out a cash advance, strict guidelines also ensure that lenders are abiding by the rules. Fees should be posted on the location and written agreements are a must for every transaction. More importantly, all cash lenders need to be licensed by the state of Texas. Doing a bit of research will help you find a cash lender with competitive interest rates and honest services.
Sometimes, completing a cash advance in Fort Worth is as easy as finding an online lender. With the same convenience and instant approvals, you can get the funds you need from the privacy of your own home. Online cash advances follow the same rules as in-house transactions, and by repaying on time, you’ll work toward a better credit standing.