In Texas, Speedy Cash operates as a Registered Credit Access Business (CAB). The actual Lender is an unaffiliated third party. Speedy Cash engages in the money transmission business as an authorized delegate of Western Union Financial Services, Inc. under Chapter 151 of the Texas Finance Code. Speedy Cash engages in the money transmission and/or currency exchange business as an authorized delegate of MoneyGram Payment Systems, Inc. and Western Union Financial Services under Chapter 151 of the Texas Finance Code.
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We stuck with direct lenders who comply with state laws. A good way to tell if a lender follows the rules is if its website asks what state you live in before giving you a quote. If a lender says all loans have the same fee no matter where you live, that’s a tipoff you may be dealing with a less-reputable lender you should avoid. We didn’t include any of those lenders on our lineup.
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If an EPP isn’t an option, you may want to talk with a credit counseling agency. Credit counseling aims to help consumers better manage their finances, and a number of reputable organizations exist across the country. Services can include help with payday loan debts, budget creation and money management. Credit counseling is usually offered by many nonprofit organizations.
A: When you need cash now, this question is probably top of mind! The amount of time it will take to receive your money depends on how you choose to apply, and how you would like to receive your cash. If approved, Speedy Cash is proud to offer a number of different funding options so that you can select how to receive your loan funds – including instant payday loan options.
The propensity for very low default rates seems to be an incentive for investors interested in payday lenders. In the Advance America 10-k SEC filing from December 2011 they note that their agreement with investors, "limits the average of actual charge-offs incurred during each fiscal month to a maximum of 4.50% of the average amount of adjusted transaction receivables outstanding at the end of each fiscal month during the prior twelve consecutive months". They go on to note that for 2011 their average monthly receivables were $287.1 million and their average charge-off was $9.3 million, or 3.2%.[12] In comparison with traditional lenders, payday firms also save on costs by not engaging in traditional forms of underwriting, relying on their easy rollover terms and the small size of each individual loan as method of diversification eliminating the need for verifying each borrower's ability to repay.[38] It is perhaps due to this that payday lenders rarely exhibit any real effort to verify that the borrower will be able to pay the principal on their payday in addition to their other debt obligations.[39]

Making regular payments is a must, and consumers must refrain from using credit cards while in the program. The Federal Trade Commission (FTC) urges consumers to carefully review DMP terms and ensure creditors are willing to work within its confines before jumping in. Keep in mind this isn’t a quick fix. Paying off debt through a DMP can take years depending on how much debt you have.
First-time online payday loans applicants can borrow between $200 and $600. Repeat borrowers with positive payment histories can be approved up to $1000. Mypaydayloan.com urges clients to borrow what they need and what they can comfortably pay back with their next paycheck. If you are looking for a small payday loan, please visit our Small Cash Advance Loans page.
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If you are unable to pay your loan when it is due, Moneytree offers a payment plan for payday loans only. You must request a payment plan before the deposit time on the day your loan is due to restructure the payment terms to at least four (4) substantially equal payments. You may choose this option once per 12-month period. There is no charge to enter into the payment plan. 

Before you apply, ensure that you won’t have any problems in repaying the loan. If you think you might have trouble, don’t take out the loan. Late or missed payments come with increased fees, charges and interest rates on top of negatively impacting your credit. Always work the repayment schedule into your budget, and the best loans will remain the best.


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The minimum credit history varies among lenders for bad credit. For example, Upstart specializes in loans to those with short or no credit history, while Peerform requires a credit profile without any current delinquencies, recent bankruptcies, tax liens, no medical debt within the last 12 months and at least one open bank account and revolving account.
Some payday loan companies gather your personal information and then shop around for a lender. That means your information could go out to third parties as part of the lending process. Other companies will even sell contact information, leaving you dealing with sales calls and spam emails. LendUp protects customer information and will never sell it.
The APR associated with your loan stands for the annual percentage rate, or the amount of interest you will be expected to pay in relation to the length of your loan term. Most of the time, the APR for short term loans ranges from 260.71% to 1825.00%, though this can vary somewhat. Although the APR associated with short term loans is higher than that associated with other forms of credit, it is still considerably less than the charges associated with overdrafts and nonsufficient funds. Please see below for a cost comparison.
You should obtain a copy of your credit report before applying for any type of new credit. You’ll want to make sure there are no errors on your report before you start applying for a personal loan. If there are errors, fixing them can improve your credit score, allowing you to qualify for better interest rates. You can get a copy of your credit report from each of the three major credit bureaus once a year for free at AnnualCreditReport.com.
We stuck with direct lenders who comply with state laws. A good way to tell if a lender follows the rules is if its website asks what state you live in before giving you a quote. If a lender says all loans have the same fee no matter where you live, that’s a tipoff you may be dealing with a less-reputable lender you should avoid. We didn’t include any of those lenders on our lineup.
With alternative payday loans, you may have the option to refinance your loan if you’re making payments consistently on time. Refinancing your loan could lower your interest rate and help you save on the overall amount of the interest paid on the loan. You can also extend the length of the loan, which would lower your monthly payments but result in paying more in overall interest. 

The likelihood that a family will use a payday loan increases if they are unbanked or underbanked, or lack access to a traditional deposit bank account. In an American context the families who will use a payday loan are disproportionately either of black or Hispanic descent, recent immigrants, and/or under-educated.[15] These individuals are least able to secure normal, lower-interest-rate forms of credit. Since payday lending operations charge higher interest-rates than traditional banks, they have the effect of depleting the assets of low-income communities.[22] The Insight Center, a consumer advocacy group, reported in 2013 that payday lending cost U.S communities $774 million a year.[23]
You don't always have enough money in the bank to make it to the next payday. Unexpected expenses exceed your savings, and you need some way to supplement your short-term cash flow. Figuring out the best payday loans (or best alternatives to a payday loan) to fit your needs requires understanding these loans and knowing what to look for in a lender.
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