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Payday loans in Houston Texas Payday Advance Credit ™ USA

In the past few years the number of unsecured loans provided by most traditional banks has declined considerably. While it might be very challenging to get a personal loan from the bank, people looking for quick financing can go with payday loans. These loans do not have very strict criteria for approval. The manner in which these loans are governed varies from one state to other. The city of Houston, Texas has different payday laws from other states.

One of the most important rules for payday loans is that the lender has to explain all the risks associated with a payday loan to the borrower. The lender also has to clearly explain about the costs involved, the rate of interest and the accumulation of interest overtime. This regulation helps in ensuring that the borrower is aware of the risks and charges involved and is not caught by surprise. One of the Houston ordinances have limited the payday loans amount to 20% of the gross monthly income of the borrower. Loans with single payments cannot be refinanced more than three times, while the instalments loan cannot have more than four instalments. With each instalment the principal owe must decrease by about 25%.

Another law in the State of Texas regarding payday loans is that there is a limit to how much money can be taken out at any time. In some states, the amount of money that is taken out is unlimited. While most lenders do not give out very large loans anyways, in the State of Texas they are not allowed to give out any loans more than $1,800. This law also disallows any borrower from taking out multiple loans, if the total balance of these loans is more than $1,800. While there is a limitation of how much money can be taken out, there is no limit to the amount of interest or fees the payday lender can charge.

Another regulation related to the payday loans is that the lender does not have any criminal rights for a borrower who defaults on payments. In certain states intentionally defaulting on loan is considered to be a criminal act. However in the state of Texas if you default on a loan you cannot be prosecuted in a criminal court. However you can still be taken to a civil court, where the lender could pursue a judgement against you and even force you to bankruptcy.

All the loans must be repaid in full by your next pay date. This includes the entire amount of the loan along with the appropriate interest amount. Loans that are not paid in full can be subjected to penalties and fines. If you are an active member of the US Military you cannot receive a payday loan since the military prohibits its service members from utilising any quick loan services. Texas laws do not cap the charges associated with payday loans in Houston Texas, giving the lenders freedom to fix their own interest rates. You must carefully review the terms and conditions and the interest rates associated with loan before accepting the loan.

Our lending process is free of any catches and hidden clauses, because we answer all your doubts and explain the lending process explicitly to our buyers. Whether you have hundred questions or one, we make sure that each of them is answered to your utmost satisfaction before and after applying the loan.

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Disclaimer : Payday advance credit is not a financial organization or a lender. We do not provide loan or make decisions relating to the lending policy of our lenders. When you apply for a payday loan by filling out the application form available on our site, it does not guarantee approval of the loan. We forward your filled form to our network of lenders, who then evaluate your application based on their set criteria and approves your loan. Based on your application, our lenders will offer you the rate of interest, charges involved and other terms guiding your loan process. Once you get the offer from the lender, you can then decide whether you need to accept the amount or not. Payday advance credit does not play any role in deciding your loan amount, interest charged or any other terms related to it. We advise our clients to read the terms and conditions properly and weigh the pros and cons that follow before signing the contract. We make our earnest effort to provide you with up to date and explicit information on our site. If you decide to accept the offer, then you will have to sign the documents electronically and send it over to us. After you duly sign and agree to the agreement, we will then put forward the amount in your bank. We are in no way obligate you to accept the loan amount after the offer is made. You are solely responsible to accept the loan amount based on your personal decision. Some of our lenders will run a credit check on your name to ensure your capability to repay the loan. The verification won't affect your credit history and is performed by lenders to cover risks associated with lending money. Payday advance credit reserve the right of making any changes on our website without intimating the clients in advance. The updated information is effective from the time it is updated and it is the responsivity of the customer to read them prior to applying for a loan. Payday advance credit or its affiliates do not guarantee availability, performance accuracy and functionality of the third party software working on our website. Any transactions occurring between you and payday advance credit is subjected to local jurisdiction regardless of the place where you reside. Payday advance credit or its affiliates does not guarantee the performance, availability, functionality and accuracy of the third party software present on its website. All the transactions between Payday advance credit and you are subject to the local jurisdiction regardless of the location where you live when you accept a short term loan or advance credit. We advise you to go through rates and fees section on our site to understand the laws and terms that follow your agreement. Our terms of use will help you in gathering more information on the loan process, products and services to understand it thoroughly. Read our privacy policy to understand rules and regulations to understand the collection, use and distribution of personal and non­personal information that's been gathered from customers by Payday advance credit or any affiliates. Privacy Policy