Payday Loans in San Antonio, Texas
Subprime Report


San Antonio is a great city. From The Alamo to the River Walk to the Spurs to those nuns who really love the Spurs, it’s a city that rolls deep with history, entertainment and culture. But this doesn’t mean that life in San Antonio is free of worry. People have the same kinds of problems here that they have everywhere. They run into issues with their mortgage or they lose their job and struggle to pay the bills. They suffer from addiction to drugs and alcohol or have trouble getting additional care as they age. But no matter what issues might arise, there are places in San Antonio and Bexar County that can help. Whether it’s finding an affordable personal loan, an AA meeting or a good nursing facility, the assistance that people need is out there.

Borrowing Money in San Antonio.

Just more than 20% of the people who live in San Antonio are living below the poverty line.

That’s one person out of every five. And for people who live below the poverty line, getting access to credit can be very difficult. They likely have a poor credit score or perhaps no credit score at all due to a lack of a credit history. When emergency needs arise, people living below the poverty line might think they have to turn to a payday lender or take out a title loan on their car in order to pay for necessary expenses. But doing so could put them at risk for predatory lending practices. These aggressive, often illegal tactics force borrowers into a cycle of debt. In Texas, it could even land them in jail. Learning a little more about lending practices today, could save a long night in a cell tomorrow.

Payday Loans in San Antonio
These high-interest loans could possibly land you in jail if you can’t repay.

Payday loans are a big business in Texas. Together with auto title lending, the industry brings in just shy of six billion dollars per year.

But a lot of those profits come at the borrower’s expense.

Payday loans differ from traditional loans in two ways. They are for relatively small amounts, often a few hundred dollars, and they are very easy to get approved for, sometimes not even requiring a credit check. However, the ease with which one can get a payday loan should be taken as a sign that maybe something is up. These loans have very short repayment terms, between 7 to 31 days, and sky-high interest rates: depending on the amount and term of the loan, the annual percentage rate (APR) can be well over 500% in the state of Texas.

If a borrower is unable to repay their loan on time, the lender might offer to roll the loan over, extending the term of the loan but charging the customer an extra fee to do so. This is where borrowers can easily get trapped into a cycle of debt. Due to the high rates and fees associated with loan rollover, the amount they owe quickly balloons into an amount so large that they could never reasonably repay it. Though banned in some states, rollover is permitted in Texas.

Lastly, due to what amounts to a legal loophole, borrowers in Texas can be thrown in jail as a part of the collections process for a payday loan.

If you have a complaint against a payday lender in San Antonio, contact the Texas Office of Consumer Credit Commissioner at (800) 538-1579 or the Consumer Financial Protection Bureau at (855) 411-2372.

Texas Subprime Reports

See more local Texas guides below:
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