Can I Apply For A Paycheck Advance If I Have Existing Debt?
A paycheck advance can give you quick cash in 1-2 days for emergencies. One of the most frequent questions we get is how existing debt affects a customer’s chances of getting a payday loan. At Texas Title and Payday Loan Services, Inc., we can offer a payday loan eligibility for those with debt,
In this guide, we will explain how a paycheck advance works and how you can get a bad-credit payday loan. Learn more about borrowing money with debt below!
Am I Eligible For A Paycheck Advance With Existing Debt?
You cannot get loan eligibility with debt for traditional loans, as you must prove your creditworthiness to get approved. Applying for short-term loans like a paycheck advance is different. You can still qualify for approval even if you have debt.
In fact, you can apply for a payday loan — and actually stand a good chance of getting approved — even if you find yourself in one of the following situations:
- Existing debt
- Bankruptcy
- Bad credit
- Late payments
- Student loan debt
- Credit card debt
- Outstanding home or auto loans
Why Can You Get A Payday Loan With Debt?
We offer loan eligibility with debt for our payday advances because they are short-term loans with lower value than traditional bank loans. We accept a wide range of applicants because we understand that difficult times can happen at any time, even when you’ve already accumulated other debts.
In fact, many emergencies tend to happen only when money is tight and your resources are limited. We base your payday loan eligibility on your income and your ability to repay the loan.
When Should You Get A Bad Credit Payday Loan?
Borrowing money should always be done responsibly. Just because you can get a payday loan with debt doesn’t mean you always should. You should only get payday loans in emergency situations that require you to get fast financial help.
You should view a payday advance as a last resort when you have a significant financial emergency you cannot wait to pay. Getting loan eligibility with debt can help you afford urgent costs before incurring late fees or experiencing service disruptions.
The following are some of the financial emergencies that a paycheck advance can help with:
- Unexpected bills - A broken water heater or car engine repairs are just two examples of the many things you might not be prepared to handle. A payday loan could give you just enough cash to handle any emergency that pops up. You can pay for auto or home repairs to keep yourself safe at home or while driving.
- Medical expenses - A trip to the emergency room can cost hundreds, even thousands. In an emergency, the last thing you should worry about is how much medical care will cost, but that’s the case for many Americans. Payday loans can help you afford necessary medication, doctor visits, and surgery.
- Cost of unemployment or extended absence - Whether it’s a personal injury or a family illness that keeps you from working, lack of regular income only makes things worse. You can afford necessary costs, such as your rent, mortgage, utility bills, or other costs while bridging the gap in your employment.
- Unexpected travel costs – There may be situations where you have to travel, either for a work or family emergency. You may not be able to afford the cost of hotels, airfare, or car rentals. A paycheck advance can help you get quick emergency cash to afford your urgent travels.
What Are The Requirements For Payday Loans?
If you have debt but need cash fast, you can get payday loan eligibility with debt at Texas Title and Payday Loan Services, Inc. Thankfully, our simple requirements make getting approved easy. You only need a few items to verify the necessary information to get same-day approval for a paycheck advance.
The following are the payday loan requirements in Texas:
- A driver’s license or state-issued ID card in your name
- Your most recent pay stub to prove your income
- A blank check from an active checking account in your name
The Paycheck Advance Approval Process
Texas Title and Payday Loan Services, Inc. has always welcomed customers to apply for a paycheck advance. We offer the option of applying right online and then coming to the store to finish everything! All you have to do is submit your information using the form on our website, and you’ll be well on your way to getting approved.
The following is the process for getting payday loan eligibility with debt:
- Submit your information through our online form
- Discuss payday loan details with a representative over the phone
- Gather your required items and head to the nearest Texas store location
- Have your required items verified in person
- Sign documents to complete the process
- If approved, receive your funds the same day or the next business day
FAQs
How much can you borrow with a Texas paycheck advance?
Borrowers can receive up to $1,200 for a paycheck advance in Texas. How much you make plays a large part in determining your payday loan value. The more you make, the more we will be willing to offer you.
Can getting a paycheck advance with debt lower your credit score?
We do not report our fast cash loans to the credit bureaus. That means they will not know about your borrowing money, meaning your credit score will not go down from getting a Texas payday loan.
Are there hidden fees with a paycheck advance?
You do have to pay interest with our paycheck advances, meaning you will have more to pay the longer it takes you to repay the loan. You will also have to pay late fees if you miss a payment.
Get A Paycheck Advance In Texas – Borrow Up To $1,200 Today!
Borrowers can get payday loan eligibility with debt today to pay for a financial emergency. Get same-day approval for payday loans to resolve your urgent costs quickly and repay the loan with your next paycheck. Contact us today for assistance by filling out our online form or calling one of our Texas stores to speak directly to a loan agent.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.