Killeen is settled in Bell County. The city is served by the Killeen-Fort Hood Regional Airport. Total population is 143,070. 49% and 51% – male and female share of the population. Median age is 29. Median income per family is $54,455. 13.8% is the rate below poverty line. 45% is the rate of issued payday loans. Median gross rent is $912. Median house value is $121,500. Standard Zip codes are 76549, 76541, 76542, 76543, 76544, 76548. Time zone is America/Chicago.
What are payday loans Killeen, TX?
Payday loans Killeen, Texas are a kind of “ambulance”, available money, the issuance of which is carried out by microfinance companies.
How to issue a payday loan?
To issue a payday loan in Killeen, TX, choose a microfinance company or a bank. Fill out the application online or in the office. Sometimes, you can apply directly from some stores of large household appliances, jewelry salons.
After your application is processed, you will have to sign an online agreement. With the mutual consent of the parties, an agreement is drawn up, which specifies all the points, interest, debt obligations, rights and obligations of the parties, contact information.
Money can be received in cash, on a bank card, an electronic wallet. Loans are issued only in the main current currency of the country. It is impossible to deceive the MFI and not pay back. It is allowed not to pay only if the company has violated the clauses of the contract or is working illegally.
Why are payday loans fast and convenient?
To borrow money from a bank, you need to go through a number of procedures. At a minimum, you will have to personally come to the department, fill out a number of papers and wait for the loan approval. This is not always convenient, especially when funds are needed urgently, so many people prefer to take out a loan from a microfinance organization. The main advantages of the service are:
- fast application without unnecessary paperwork: even customers applying for the first time receive approval in less than an hour;
- in an MFI, you can take out a small loan for a short period, which can be repaid quickly;
- no need to go anywhere: the money is deposited to the card;
- minimum number of documents required for loan approval;
- even a small amount borrowed and paid on time has a positive effect on the credit history;
- you can get a payday loan Killeen Texas at any time of the day.
To receive the service, you only need a gadget with Internet access. You can apply for a payday loan from any PC, phone or tablet in a couple of minutes.
What is the difference between a payday loan and a bank loan?
Firstly, credit services are provided by banks, and payday loans – by certified legal entities with a license.
The second difference is the degree of trust in the organization. A bank is a large financial institution that causes 100% of the client’s trust. Before issuing a loan, the bank conducts risk scoring and checks everything related to this applicant: the level of income and its sources, what monthly expenses he has, whether there are other loans, real estate and other assets, what state of credit history, place of work, whether there is a criminal record, etc. MFIs are usually not interested in credit history, sources of income. For a manager of microfinance companies, it is enough that you do not have debts in other companies.
The third difference between banks and microfinance organizations is how conflict situations are resolved. The bank will always solve the problem with the borrower officially through the court in accordance with the established legislation. Banks always take care of their reputation and do not allow proceedings to go beyond the bounds of what is permissible. Microfinance companies are not always so correct and courteous – it is important for them to return the money. If all means of debt repayment are exhausted, it is possible to turn to the services of collectors. Therefore, banks will never approve lending to customers with high risks in order to avoid unnecessary hassle and waste, and MFOs will give money to almost anyone who applies.
What are the main advantages of payday loans Killeen, TX?
Payday loans have a number of advantages, such as:
- when receiving an online loan, your ID is required;
- it takes no more than 15 minutes to submit an application;
- it is convenient not only to issue, but also to repay such a loan;
- the client can repay the debt prematurely, at any time convenient for him;
- an affordable opportunity to improve your financial situation;
- no one will know about the history of your loans;
- the requirements for issuing a payday loan are openly available in the public service.
Also a huge advantage is the minimal risk. In a short period of time, you can easily calculate the situation on the market, and therefore, by taking out a loan, you do not risk getting involved in endless credit obligations at all.
To issue a loan, a certain agreement will be signed, in which it will be stipulated that the money is provided at a specific interest rate, for a certain term.