Guide · Texas
Installment loans in Texas
An installment loan is repaid in fixed payments over months. The payments look manageable but the total cost adds up, and optional insurance can be folded in. Ask for the total of all payments in dollars, not just the monthly figure.
- You need
- income
- You risk
- A long, expensive repayment.
- Typical speed
- same day to days
Before you sign
- Ask for the total you will repay, in dollars, and the due date — in writing.
- Ask what happens if you pay late or cannot pay on the due date.
- Ask whether they will call your employer or your references.
- Never pay a fee before you receive the loan.
What Texas law says
Checked against the statute on 23 September 2026.
Installment loans: licensed, with maximum charges
- A lender charging more than ordinary interest on these loans needs an OCCC licence, and Chapter 342 sets the maximum charges it may collect. Tex. Fin. Code §342.051, §342.201, §342.252
If you can’t pay
If you cannot pay on the due date, talk to the lender before the date, not after — ask for an extension or a payment plan in writing, and what it costs in dollars. If a lender breaks the rules, you can complain to the Texas Office of Consumer Credit Commissioner (OCCC). Call the OCCC on 800-538-1579 or contact them online.
Signs it isn’t a real lender
- Asks for a fee before paying you.
- Wants payment by gift card or wire transfer.
- Threatens you with arrest.
- Cannot give a state licence number.
- Promises “guaranteed approval”.
- Has no office at its listed address.