Do you know all of the laws surrounding short term loans in Longview? Prepare yourself before taking on a heavily-regulated loan
Short term lending can be complicated, and when you’re in need of financial help, it could be what you need. Get the information you need by taking a look at the guide below.
Are payday loans legal in Longview?
Yes. Payday loans are legal in all of Texas. Financial Code Ann. §341.001, §342.007 and §342.008, §342.251 et seq., §342.601 et seq., §393.221 et seq. and §292.604 et seq., as well as §83.6004 and §83.1001 et seq. all govern short term lending in and outside of Longview. Lenders who operate in store, online and over the phone all must abide by these laws.
If you need to file a complaint about a lender, you can do so with the Texas Office of Consumer Credit Commissioner.
Check into Cash Loans
Check into Cash allows you to directly apply for a payday loan and have your cash when you need it.
- Min. Loan Amount: $50
- Loan Term: Varies by state
- Turnaround Time: 1–2 business days
- Total Costs: Varies depending on the amount and your state of residency.
- Must be 18+
- No security needed
- Confidential and secure
Consider these lenders for a short term loan in Longview
Check out these short term lenders to see if they operate in your state.
Why a short term loan in Longview might work for you
- Easy application. Applications can take as little as five minutes, and you can get a decision shortly thereafter.
- Get cash fast. If you apply and are approved in store, you can walk out with your cash same-day. It typically takes one business day to transfer your funds via ACH if you apply online.
- Poor credit accepted. Most short term lenders focus more on your current financial situation, rather than your credit score. As long as you meet other eligibility criteria, it’s likely that poor credit won’t impact their decision.
Is there any protection when you take out a short term loan in Longview?
- Rollover. You can refinance your loan up to three times so long as you’ve paid off at least 25% of the original amount.
- Loan amount. Any short term loan must not be over 20% of your gross income.
- Loan term. Terms may be no shorter than seven days.
Here's how much a payday loan might cost in Longview
Elizabeth’s air conditioner broke down in the dead of summer, and since she had just paid her bills for the month she couldn’t afford to fix it with. Because Elizabeth couldn’t secure a personal loan, she opted to apply for a short term loan.
She went into a short term loan office and applied for a $350 loan, which would be due in two weeks on her next payday. Before she took the loan, the lender made sure Elizabeth understood that there would be a fee of $89.17.
When her next payday rolled around, Elizabeth had the full amount deducted from her checking account. The payment was made automatically, so she had to make sure she budgeted around it.
Had she missed the payment, it would have cost a fee of $35. If the payment bounced, she would have received a non-sufficient funds (NSF) fee of $30.
Need to apply for a short term loan in Longview? Here’s how
Before you apply, there are some basic eligibility requirements you will have to meet:
- At least 18 years old
- American citizen or a permanent resident of the US
- Steady source of income
- Checking account for online applicants
In order to complete the application successfully, you’ll have to provide some personal information:
- Your name, home address, email address and phone number
- Your date of birth, social security number and an acceptable form of ID
- Your employer’s name, address and phone number
- Details about your income
- If applying online, your checking account details
Short term loans near you in Longview, Texas
Short term loan offices near you in Longview
Here are loan offices locations in Longview:
- Community Loans of America, Inc. 1421 W Loop 281 # C, Longview, TX 75604
- Covington Credit. 308 TX-63 Spur, Longview, TX 75601
- Rapid Payday & Title Loans. 1614 Judson Rd, Longview, TX 75601
- Texas Star Title & Loans. 2199 Gilmer Rd, Longview, TX 75604
- Western-Shamrock Finance. 306 TX-63 Spur, Longview, TX 75601
Where else are payday loans available?
Compare payday loans in your state
There may be better personal finance options for you
Short term loans can be good in an emergency, but they may not fit your needs.