If you want to be able to safely take out online payday loans, we at Texas Car Title and Payday Loan Services, Inc. have got you covered! Our company is a reputable service provider with decades of experience, numerous repeat clients, and exceptional customer support. Unfortunately, not all lenders are the same and may try to take advantage of your financial situation.
In this guide, we will explain how to avoid short-term loan scams. We will also explain how you can borrow emergency cash quickly with our title loans, payday loans, and signature installment loans.
6 Tell-Tale Signs Of Short-Term Loan Scams
When you’re in a tight financial spot and need cash quickly, you might overlook warning signs of scams. Some lenders aren't here to help but to take advantage of your financial struggles. However, recognizing these scams is easy if you know what to watch for.
Here are the six signs of short-term loan scams:
1. The Lender Is Not Registered In Your State
In Texas, lenders must have a valid license. Basically, you can't work with a lender who isn't licensed, and if you're unsure whether the lender is registered, it’s safer to avoid that company.
Here’s how you can find out if the lender has a license:
- Check the Texas Office of Consumer Credit Commissioner website. You should be able to find the company’s license number or name.
- Contact the Attorney General’s Office.
- Consult the Department of Banking to figure out which agency regulates the lender.
Reputable lenders will also display proof of their licenses and accreditations on their websites. If they don’t show they are licensed in Texas, it might be better to look for a different lender.
2. No Contact Info And Address
Reputable lenders should have accessible contact details so clients can reach them whenever needed. You should be able to easily locate the company’s phone number and email address. Additionally, trustworthy lenders will likely have a physical business address, even if they only offer online loans.
If you can find this information on the lender’s website, be sure to call the number and verify the address in Google Maps to confirm that it belongs to the company.
Scammers might ask you to contact them in unusual ways, such as through messaging apps. They also usually initiate contact, which legitimate lenders rarely do.
3. The Website Isn’t Secure
Some companies may ask you to fill out inquiry forms on their website or make payments through online portals. In such cases, you want to ensure that the website is secure. If not, your sensitive information could be at risk.
The following are a few indicators of secure websites:
- The URL begins with an ‘https’, not just an ‘http’ - The letter ‘s’ stands for ‘secure’ and signifies that the website uses a certificate that encrypts data transmitted between the server and your browser.
- There is a padlock icon next to the URL - Modern browsers display this icon to confirm that the connection is indeed encrypted. If you click on the icon, you should be able to find more information about the Secure Sockets Layer certificate, like the validity and issuer.
- The domain name copies another lender - If there is an extra popular lender in your area, scammers might create a similar-looking domain to induce you to reveal personal information.
4. The Lender Pressures You
Fraudsters often try to create a feeling of urgency. They can insist that the offer is available only today and that you need to act immediately. Reputable lenders always want customers to make informed decisions. They won’t pressure you in any way, and they will be readily available to answer all of your questions.
Scammers can also make you sign blank papers or ask you to lie on your form. All these are red flags.
5. The Company Charges Upfront Fees
Legitimate lenders may request that you cover fees such as document preparation and origination costs. However, they are usually deducted from the loan disbursement or paid only after the loan is approved.
If someone is pressuring you to take care of a high upfront fee before you get approved, it’s most definitely a scam. You should also not listen to lenders who promise that your chances of qualifying will increase only if you pay the upfront fee.
6. It Sounds Too Good To Be True
There are numerous reputable lenders available today that make the process of obtaining a loan remarkably convenient. However, no legitimate lender would ever claim that approval is guaranteed before reviewing your financial details.
Scammers target individuals with poor or nonexistent credit scores and advertise loans with ‘guaranteed approval.’ Fraudsters will also offer unusually favorable terms, such as larger loan amounts. If it sounds way too good to be true, the chances are high that it is.
Where To Find Secure Short-Term Loans Online?
If you’re looking for emergency cash, it usually means that you need to address a specific expense as soon as possible. Although vetting potential lenders is extremely important, you may not have the time for it. One such reputable lender is Texas Car Title and Payday Loan Services, Inc.
We have been in business for over 30 years. We have a wealth of reviews and transparent loan terms displayed on our website. Rest assured that you’ll be dealing with a team of experienced professionals dedicated to helping you obtain the financial boost you urgently need.
We also offer three different types of emergency loans:
- Title loans – These secure short-term loans online let you use your lien-free car title as collateral to borrow up to $15,000. Your loan amount will depend on your vehicle’s value. You can only get approved if you have fully paid off your vehicle.
- Payday loans – If you can prove your income, you can borrow up to $1,200 from a future paycheck. A payday loan lets you get approved quickly to handle smaller emergencies. You can pay off your urgent costs and repay the loan with your next paycheck.
- Signature installment loans – Those looking for an unsecured loan can get a signature installment loan worth up to $1,500. After proving your income, you can sign the paperwork, agreeing to repay the loan in fixed installment payments.
Why Choose Texas Car Title And Payday Loan Services, Inc.?
Borrowers who want a quick process that allows them to swiftly handle emergencies should consider Texas Car Title and Payday Loan Services, Inc. While you will still have the time to do all of your research, you can get approved the same day you apply. Our friendly representatives will guide you through the process to ensure you understand everything.
The following are some of the benefits of working with us:
- You can start online - No matter where you are, you can quickly complete the inquiry form to let us know that you’re interested. We will soon call you back and explain what you need to do to get the extra cash.
- You can get the money quickly - Once you arrive at one of our Texas stores, it might take only 30 minutes for you to find out whether you qualify and for how much. If you get approved, you might receive the money the same or the next bank day.
- You’re only going to need a few items – Each of our emergency loans has a simple list of required items. You should be able to find these items easily to make the process even more streamlined.
- All credit types are accepted - You don’t need to have good credit to qualify. You may still be approved, even if your score is poor or nonexistent. Just ensure that you have the necessary documents to demonstrate a stable income and the ability to repay.
Safely Borrow Extra Cash – Receive Emergency Funds Today!
Texas Car Title and Payday Loan Services, Inc. is a trusted lender that offers competitive rates and fast approval. Whether you need a title loan, a payday loan, or a signature installment loan, we have options that suit your financial needs.
Ready to get quick economic relief? Apply for rapid cash by filling out our online form. One of our loan specialists will call you and explain the approval process. Visit one of our Texas stores today to get approved in less than 30 minutes!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
