Sometimes emergencies happen and you find yourself in need of some fast cash. Cash to make sure that the rent gets paid or to pay for a surprise auto repair. Whatever the case, you need money and you need it now. At Lone Star Cash Services, we understand your urgency and want to help you get the finances to get through your emergency. Please take a minute and familiarize yourself with your loan options in Allen, TX. When you are ready, get the ball started quickly by applying online.
This is the standard when it comes to emergency money. Payday loans are easy to apply for, simple to qualify for and are funded very quickly. You can be approved in minutes and have the money that you need deposited right into your account the next business day. No other loan will fund as quickly and no other loan will allow those with bad credit to secure funding. All that you need to qualify for one of these loans is a checking account, a job, a phone number and a social security number. The downside to payday loans is that they have high fees that are based not on an interest rate but a set amount per $100 borrowed. This makes the effective APR quite high. You should take these fees into account before you decide to take on a payday loan. If the fees are worth it, pursue the loan.
When you need a little more money and a lot more time to pay it, you need an installment loan. These are typically loans in excess of $1000. They will typically have payments that are due once a month or biweekly. To qualify for an installment loan, you may need to have better credit than you would for a payday or cash advance in Allen.
Commonly Asked Loan Questions
- What is the APR on my payday loan?
Loan fees are based on a set amount per $100 borrowed, not an official interest rates. Most of these loans have effective APR’s greater than 400%. This is because of the high feed and short loan term. You must take these fees into account before taking out a payday loan. If the fees are less than late fees and overdraft charges or if you have no other source of money, the loan may be worth it to you.
- When do I need to pay back my cash advance?
These loans are meant to be very short term loans to get you thru your next payday. Most loans have terms of under 14 days.
- Can I have longer to pay back my loan?
If you find that you will need longer to pay back your loan, you should contact your lender directly. They may be able to extend your loan or refinance it. Fees will almost always be charged to do this.
- Do I need good credit?
No, you can still qualify for a payday or cash advance loan with poor or bad credit. This is one of the few loan types that just about everyone can qualify for.