Title Loans Lubbock, Texas
Title loans are a forgiving source of quick cash when you have an unexpected financial need. These short-term loans are meant to get you through until you have access to cash again, and they are set up to get everything done quickly and easily.
With car title loans in Texas borrowers use their car’s title as collateral for the loan. They don’t work the same way as bank loans. Instead, your title goes to your lender while you repay. Once your loan is paid off, often in 60 days or less, your title is returned to you. With these short term title loans, Lubbock borrowers can often get cash in as little as 24 hours to help when money is tight.
By getting a car title loan, Texas residents can help make ends meet in between paychecks or any time money is tight. As long as you know what you are borrowing and when you are expected to pay it back, title loans are a legal and safe way to get cash when you are in a pinch.
Lubbock, TX Rights as a Borrower
With title loans, Lubbock borrowers are protected by Texas state law. There are certain things your lender can and cannot do, and it is important to be aware of them as you go through the lending process.
When you get a title loan, lenders are allowed to:
- Issue cash to the borrower plus a fee or interest
- The amount borrowed and the interest charged are restricted in many Texas cities, not including Lubbock
- Hold a title until a loan is repaid
- If the loan cannot be repaid, a lender may repossess the vehicle and sell it
As a borrower, though, your have your own set of rights which include:
- Loan fees should not be charged to you upfront (before receiving the loan)
- All loans should come with a loan agreement covering all terms of the loan
- If repossession is to occur, the towing company cannot disturb the peace
If you believe your rights as a borrower are being abused, contact your local law enforcement agency as soon as possible to file a report:
Chief of Police For Lubbock: Greg Stevens
Non-Emergency Number For The Lubbock Police Department: (806) 775-2865
You may also file a complaint online with the Consumer Financial Protection Bureau or use their resources to seek further assistance if you find that you are dealing with a disreputable lender. If you have questions about your rights as a borrower or want help finding a title loan Lubbock borrowers can trust, you can always give us a call. We’ll make sure you understand all your rights as a borrower and can even connect you to reputable Texas title lenders.
Repossession in Lubbock
If, for any reason, you are unable to pay off your loan as specified in your loan agreement, contact your lender directly to understand what your next steps are and how you may avoid repossession. If you have any questions about how repossession works in Lubbock, you can contact a local auto repossession company for more information.
- Panhandle Recovery Services, Inc. - (806) 553-5733
- Speedy Repo - (800) 953-4428
Remember that towing companies may enter property such as a yard or driveway to reclaim a vehicle, but they cannot disturb the peace in the process. While the term is not specifically defined by the state, it may include harassment to the buyer, verbal or nonverbal threats, property damage, or making physical contact with the vehicle owner. Any disturbance of the peace by the towing company should be immediately reported to local law enforcement for investigation and further review.