V
Venture Payday Loans
Contact
BBB:
Easy Loans in Albuquerque, NM
Payment 1 Financial offers personal installment loans and title loans in Albuquerque, NM, with flexible payment terms and same-day funding for qualified applicants.
Data compiled from public sources · Rating from CreditDoc methodology
Easy Loans Review
Payment 1 Financial has operated a physical branch in Albuquerque, New Mexico since April 2008, serving the local community with in-person loan services. The company operates from 6125 Montgomery Blvd. NE and maintains extended business hours (Mon-Fri 9 AM-6 PM, Sat 9 AM-1 PM) to accommodate working customers. They position themselves as a personalized lending alternative with emphasis on flexible payment schedules and fast approval processes.
Payment 1 offers two primary loan products: Personal Installment Loans for unplanned expenses, emergencies, and general needs, and Title Loans using vehicle equity as collateral while allowing customers to retain vehicle use. Both products claim competitive rates, flexible payment options, and rapid funding. Personal loans can be applied for online or in-person, while title loans require in-branch evaluation. The company advertises same-day or next-day funding through check issuance or debit card deposit.
The company distinguishes itself through in-person service with local staff, extended Saturday hours, and explicit accommodation of customer payment schedules. They highlight credit-building as a benefit of their loans and display 7,008 verified customer reviews across Google, Facebook, and other platforms, claiming a 5/5 rating. The application process requires substantial documentation (proof of income, address, SSN/EIN, photo ID, 5 references, and recent bank statements), suggesting more thorough underwriting than typical payday lenders.
A significant limitation is that this company operates only as a single physical location in Albuquerque; there is no indication of online lending capability despite website language suggesting it. The website title contains a geographic error ("Albuquerque, Texas" when the business is in New Mexico), and the business hours listed in two places differ slightly (9 AM-5 PM vs. 9 AM-6 PM on weekdays), suggesting potential information maintenance issues. While positioned as a personal loan lender, the title loan component and rapid funding model place this squarely in the personal loans category rather than emergency cash.
Services & Features
Credit building through installment loan repayment
Email support at abqne@payment1.com
Flexible payment plan customization based on customer budget
In-person loan applications at physical branch location
Loan document preparation and execution
Online personal loan applications
Personal Installment Loans for emergencies, home repairs, and unplanned expenses
Phone-based pre-qualification at (505) 884-0805
Quick credit and underwriting review process
Same-day or next-day funding via check or debit card deposit
Title Loans using vehicle equity with customer retains driving privileges
Vehicle title lien placement and removal services
Feature Checklist
Mobile App
Online Portal
Score Tracking
Credit Education
Personal Advisor
Identity Theft Protection
Pros & Cons
Pros
- Extended business hours including Saturday 9 AM-1 PM availability for working customers
- Explicit promise to accommodate payment schedules to fit individual customer budgets
- Same-day or next-day funding available through check or debit card deposit
- Title loan customers retain vehicle use during repayment while using it as collateral
- Online application option available for personal loans without requiring in-branch visit
- Transparent application requirements clearly listed upfront (5 references, recent bank statements, etc.)
- 7,008 verified customer reviews across multiple platforms with 5/5 rating
Cons
- Single physical location in Albuquerque only with no other branches or online-only alternative
- Requires extensive documentation including 5 personal references, which may deter some applicants
- Website contains factual errors (title says 'Albuquerque, Texas' when business is in New Mexico) and inconsistent hours (9 AM-5 PM vs. 9 AM-6 PM)
- No published APR, fees, loan amount ranges, or credit requirements disclosed on website
- Title loan process requires in-person vehicle appraisal, limiting accessibility for remote applicants
Rating Breakdown
Value 2.0
Effectiveness 1.5
Customer Service 2.2
Transparency 2.0
Ease of Use 3.9
Compare the Best Personal Loan Options
See which lenders actually approve borrowers with bad credit. We compared APRs, fees, minimum scores, and funding speed.
Frequently Asked Questions
Is Easy Loans legitimate?
Yes. Easy Loans is a registered company, headquartered in 2203 Central Ave NW, Albuquerque, NM 87104.
Quick Facts
- Headquarters
- 2203 Central Ave NW, Albuquerque, NM 87104
- BBB Accredited
- No
- Starting Price
- Contact provider
- Setup Fee
- None
- Money-Back Guarantee
- No
CreditDoc Diagnosis
Doctor's Verdict on Easy Loans
Payment 1 Financial is best for Albuquerque residents who need personal installment loans or title loans and prefer in-person service with flexible payment options. The main caveat is that this is a single-location lender with no online lending platform, making it inaccessible to customers outside the Albuquerque area, and critical information like APR, fees, and loan limits are not published on their website.
Best For
- Albuquerque, NM residents with emergency or planned expenses needing personal installment loans
- Vehicle owners with clear titles seeking quick cash loans with retained vehicle use
- Borrowers who prefer in-person service and relationship-based lending over online-only platforms
- Customers who need flexible payment accommodation based on individual income schedules
Updated 2026-04-29
More Emergency Cash
U
USA Payday Cash Loans Memphis
Contact
BBB:
U
USA Cash Services
Contact
BBB:
Financial Wellness Guides
How to Read Your Credit Report (And Spot Errors)
Your credit report contains the raw data behind your score. Learn what's in it, how to read it, and how to dispute errors that could be dragging your score down.
Read guide →Buy Now, Pay Later: How BNPL Really Affects Your Credit
Klarna, Afterpay, Affirm — they make spending easy. But what happens to your credit score when you use them? Here's what the fine print doesn't tell you.
Read guide →Understanding Your Credit Score: The Complete Guide
Learn what makes up your credit score, how it's calculated, what the ranges mean, and how to check yours for free.
Read guide →Financial Terms Explained (10 terms)
New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
Interest & Rates
APR — Annual Percentage Rate
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Why it matters
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Compound Interest
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Why it matters
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
MAPR — Military Annual Percentage Rate
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
Why it matters
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
Usury Rate — Usury Rate (Interest Rate Cap)
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Why it matters
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
How Loans Work
Collateral — Loan Collateral
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Why it matters
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
Fees & Costs
Late Fee — Late Payment Fee
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
Why it matters
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
NSF Fee — Non-Sufficient Funds Fee
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
Why it matters
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
Legal Terms
Usury — Usury (Illegal Interest)
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
Why it matters
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Credit Cards
Cash Advance — Credit Card Cash Advance
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Why it matters
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
Affiliate Disclosure: CreditDoc may earn a commission when you click links to Easy Loans and other services. These commissions help us maintain our free research. Our editorial team independently evaluates all services. Compensation does not influence our ratings or rankings. Learn more.