If you are in the market for a cash loan in Texas, we may be able to help. Even if you have bad credit, one of the lenders in our loan network may be able to make you an offer. It is free to find out so get started now.
You May Have Options
Many people think that a payday loan is their only option if they have bad credit. That is not the case in Texas. In fact, you probably have way more options than you think. Let’s take a look at some choices that you can look at when you want to deal with a money emergency. We will start with what you came here for, a payday loan.
This is the loan that most people think about when they need money with bad credit. A payday loan has its place in the world but it has as many negatives as it does positives.
On the positive side of things, this type of loan is extremely easy to get. If you have a source of income, a checking account and have never defaulted on one in the past, your odds of approval are pretty good.
Another good thing is that these loans pay quick. An approval today would often mean money in your account as soon as the next business day. If you need to handle a financial emergency quick, it is a nice choice.
Now, let’s take a look at the bad side. The biggest negative is the short loan term. These loans will be due in 10 to 14 days usually. They are designed to be paid back on the next day that you get paid. This can make paying your bills on your next payday difficult and is a big reason why many people simply extend their loan, again and again. Extending your loan will cost you another set of fees, so be careful.
If you choose a payday loan, be careful and take out only as much as you need. Know that you will need to pay it back soon and that the fees are relatively high.
You might not know it, but you may be able to qualify for an installment loan, even if you have bad credit in Texas. These loans can give you some things that you can not get with a payday loan but they have their own problems as well when you have bad credit.
On the good side, you can get much more money with an installment loan. If you need it, you can get thousands of dollars instead of hundreds. That can help you solve a bigger financial emergency.
In addition, with these loans, you will have much longer to pay. The loan will be broken up into multiple installments and that can be easier on your paycheck.
On the bad side, these loans also have high interest and fees. The overall interest rate is probably going to be less than that of a payday loan but you will be paying that interest rate over a longer time period. This could result in more interest being paid over the length of the loan.
You can take out an installment loan no matter where you live because of the internet. While locally, you might only have access to a payday loan, when you apply online, you can get an installment offer anywhere. No matter if you live in Midland or live all the way up in Irving.
Sell Your Stuff
Anytime that you can avoid a fast cash loan, you should do so. This is especially true if you have bad credit in Texas. One way to avoid loans is by simply selling some property.
Go around your home and round up all of the items that you can do without. Make sure that it is nothing that you would have to buy back anytime soon.
Once you have your items, you can determine the best outlet to sell them.
Larger items like furniture should be sold locally. There is no way you are going to be able to ship a couch. Check out apps like LetGo. They let you to list items relatively easily and posting is incredibly easy.
Smaller items and electronics like video games will do well on eBay. You can get max dollar if you list it as an auction or you can sell it quick if you price it low and have a buy it now option.
Jewelry can be sold on an auction or locally at a gold and silver store. For quick money, the local route is the way to go.
Finally, sell your old phones at a website like Gazelle. They will give you a quote online and then even pay for the shipping. It couldn’t be easier.
To Sum It All Up
As you can see, you have a lot of options in Texas, it does not have to be just a standard payday loan. So, be sure to think it over and decide which option is best for you and your particular emergency
If you do decide on a payday loan, remember that these are short term loans that are not designed to be part of a long term financial strategy. Use them sparingly and cautiously.
Getting an online loan.
- Staff Summary
If you find yourself in need of an online payday loan in Texas, this article can be of use. See all of your options, even if you have bad or poor credit.