Texas Title Loans Car Titles Sin Credito Dallas HEB Arlington Grapevine Ft Worth Keller Richland Mansfield TX

 
 
You are here:
 
 

Dallas Credit Access Businesses

AddThis Social Bookmark Button

Recently the city of Dallas has imposed strict regulations on payday advancement, pay day loans and title loan companies.  The benefit of using us is that we're more flexible because we are an actual lender and do not have to follow with in these guidelines.

Full Documentation Here

 

The proposed ordinance imposes the following restrictions on extensions of consumer
credit:
(1)  The cash advanced for a pay day loan may not exceed 20 percent of the
consumer's gross monthly income.
(2)  The cash advanced for a motor vehicle title loan may not exceed the lesser of
three percent of the consumer's gross annual income, or 70 percent of the
retail value of the motor vehicle.
(3)  The credit access business must use a paycheck or other documentation to
establish a consumer's income.
(a)  An extension of consumer credit may not be payable in more than four
installments.
(5)  An extension of consumer credit may not be refinanced or renewed more than
three times. Each refinancing or renewal must be payable in not more than
four installments with the proceeds of each payment going to at least 25
percent of the principal of the extension of credit. Any fees charged for
services of the credit access business may not be included in calculatins the
25 percent of principal paid.

The proposed ordinance imposes the following restrictions on extensions of consumer credit:

(1)  The cash advanced for a pay day loan may not exceed 20 percent of the consumer's gross monthly income.

(2)  The cash advanced for a motor vehicle title loan may not exceed the lesser of three percent of the consumer's gross annual income, or 70 percent of the retail value of the motor vehicle.

(3)  The credit access business must use a pay check or other documentation to establish a consumer's income.

(4)  An extension of consumer credit may not be payable in more than four installments.

(5)  An extension of consumer credit may not be refinanced or renewed more than three times. Each refinancing or renewal must be payable in not more than four installments with the proceeds of each payment going to at least 25 percent of the principal of the extension of credit. Any fees charged for services of the credit access business may not be included in calculations the 25 percent of principal paid.