Last minute and emergency expenses happen to everyone. It may be a sudden car repair, illness or utility that need to be paid. While you may have money put away for those expenses, what happens if they pile up and you don’t have enough to cover them all? That’s where small loans come in. These loans can be used to pay off smaller urgent expenses quickly. Payday loans are one of the most popular options for small cash loans as they can often be obtained in a short period of time. Texas residents who need a quick cash advance need only look to a Cash Advance in Lubbock to find the money they need for emergency expenses.
A cash advance loan is seldom based on a customer’s credit report, making it ideal for those who may not have great credit but still need a quick cash loan. Rules for loans may vary but most often customers need only to provide recent paycheck stubs and at least one piece of photo identification in order to qualify for a cash loan.
In Texas there are no limits to how much money can be taken out as a cash advance loan, however the loaning office may have limits per loan or customer. This is in place to help customers avoid large amounts of debt that they cannot pay off in the allotted time period. Some fees and interest charges do occur when using Cash Advance in Lubbock that consumers should be aware of. A fee of 10% per loan may be charged for each quick cash loan amount. A monthly fee of up to $12 may occur for payday loans that are not repaid within the designated time period.
Loan repayment periods for Cash Advance in Lubbock are often a 7-31 day period though some companies may offer longer repayment time frames. This can allow customers to find a loan repayment plan that works for them. An annual fee of up to 48% of the loan amount may also be charged for customers who have a longer repayment period.
When using payday loans it is important to understand any terms and laws regarding the loan. This can help customers to avoid being overcharged or locked into unreasonable loan terms as Texas does not have strict laws in place. This can allow some lenders to set their own terms for payday loans that can make repayment difficult for consumers.