A CAB Helps You Cover Emergency Expenses

by Sean Bryant on October 8, 2016

CAB Loan

When bill after bill after bill piles up, you may need an installment loan to help bridge the gap between what’s owed and what you have in your bank account. Many of your neighbors in Texas have used installment loans to successfully solve their cash shortages, but this feat relies on a savvy individual and a responsible lender. Before you sign up for just any loan, make sure you confirm a lender has an impressive reputation, necessary licensing, and ease of use that can improve your chances of securing a practical and wallet-healthy loan.


When you’ve never experienced their services for yourself, it’s a good idea to search out reviews of their products and processes from an unbiased source. Speak with friends and family to see if they’ve ever taken out an installment loan and learn about their experiences. They may have some valuable suggestions you can’t get anywhere else. You can also go online to a site like Trust Pilot to read up on reviews left by former customers. These sites give voice to Texans you wouldn’t normally speak with. Any reputable company will have reviews. Take, for example, the lenders at MoneyKey. They have over 236 reviews that average out to an 8.6 out 10 rating. Before you apply for installment loans from MoneyKey, read these comments. Trust Pilot reveals a side of the company you wouldn’t normally see on their website, so you can get a better understanding of their services.


There are legal requirements any lender of installment loans must abide. These include a license as a Credit Access Business (CAB) and Credit Services Organization (CSO) awarded by the Office of Consumer Credit Commissioner and the State of Texas respectively. These licenses ensure the rates, terms, and conditions of their installment loans follow state’s regulations to prevent usury.


Another way to avoid predatory scams is by evaluating their process. Overly complicated application processes and vague website content are warning signs a direct lender, CAB, and CSO don’t have your best interest at heart. Complex or incomplete language regarding their products can very easily conceal a hidden fee or unrealistic condition that causes you to take on assistance you have no means to repay on time. The reviews you read from Trust Pilot should let you know if a lender is known for these scams, but your financial health is worth taking the extra time to confirm these features for yourself.

Remember these three points as you search for financial assistance. Rating, licensing, and simplicity are easy to remember. They also improve your chances of finding a loan that fits. The time it takes to confirm them pays off in the end!

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Sean Bryant

Sean Bryant created OneSmartDollar.com in 2011 to help pass along his knowledge of finance and economics to others. After graduating from the University of Iowa with a degree in economics he worked as a construction superintendent before jumping into the world of finance. Sean has worked on the trade desk for a commodities brokerage firm, he was a project manager for an investment research company and was a CDO analyst at a big bank. That being said he brings a good understanding of the finance field to the One Smart Dollar community. When not working Sean and his wife are avid world travelers. He enjoys spending time with his two kids and dog Charlie.

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