Payday Loans in Anawalt, West Virginia

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No payday loan companies in Anawalt, WV. Consider companies in other cities:

Company nameAddressZip codePhone number
Community Trust Bank 101 E 2nd Ave, Williamson, WV 25661 +1 (304) 235 - 5454
Payday Loans Chelyan 200 WV-61, Cabin Creek, WV 25035 +1 (304) 595 - 6782
Premier Bank Inc. 2043 Main St, Clay, WV 25043 +1 (304) 587 - 4200
City National Bank 206 Central Ave, Wayne, WV 25570 +1 (304) 272 - 9955
United States Postal Service 1074 McClellan Hwy, Harts, WV 25524 +1 (800) 275 - 8777
Premier Bank 700 Elk St, Gassaway, WV 26624 +1 (304) 364 - 5138
City National Bank 1700 W King St, Martinsburg, WV 25401 +1 (304) 264 - 4500
Pioneer Community Bank 681 Riverside Dr, Welch, WV 24801 +1 (304) 436 - 2171
WEPCO Federal Credit Union Lending Branch 202 W Main St, Kingwood, WV 26537 +1 (301) 359 - 3081
Bayer Heritage Federal Credit Union 17612 Energy Rd, Proctor, WV 26055 +1 (304) 455 - 4029

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Anawalt, WV, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Charleston, WV, Payday Loans in Huntington, WV, Emergency Loan in Morgantown, WV and Bad Credit Loans in Parkersburg, WV. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Anawalt, WV.

Payday Loans Available in Anawalt, WV By The Following ZIP Codes:

24808

Are Payday Loans Legal In Anawalt, West Virginia?

Payday Lending is Prohibited in West Virginia

West Virginia Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Anawalt, WV payday loan calculator

Payday Loans in Anawalt, West Virginia – Why Are They Prohibited?

Payday loans can offer a short-term solution to financial problems but can lead to long-term debt. In West Virginia, state law prohibits payday loans, but what is the reason behind this? Let’s explore the topic of payday loans in Anawalt, West Virginia, in this comprehensive article.

What are Payday Loans?

Payday loans are short-term loans that target people who require quick cash. They typically have high-interest rates and require the borrower to repay them by their next payday, hence the name “payday loans.” Usually, payday loans require no collateral, and the application process is straightforward and easy. However, they come with hidden fees, making them expensive to the borrower in the long term.

Why Are Payday Loans Prohibited in West Virginia?

Payday loans were made illegal in West Virginia in 2008, after lawmakers ruled they were predatory to consumers. It was found that payday loans resulted in borrowers getting trapped in a cycle of debt. The interest rates of payday loans in West Virginia ranged from 300% to 900%, making it nearly impossible for borrowers to repay the loans.

  • More than two-thirds of payday loans in West Virginia were renewals in 2005.
  • Borrowers in West Virginia usually take out eight loans per year, and more than 60% of the borrowers take out at least one loan in the same calendar year.
  • Between 2006 and 2010, about $97 million in payday loan fees drained from West Virginia.

Alternatives to Payday Loans

If you need a short-term loan, there are alternatives to payday loans that can help you avoid debt. One of the best options is to look to credit unions. Credit unions are non-profit organizations that help their members. They offer various types of loans, and the interest rates are likely to be better than payday loans. Another option is to reach out to friends and family and explore a personal loan.

Apply Now with TheGuaranteedLoans

If you’re in a financial bind and you need a quick loan, consider applying through TheGuaranteedLoans. We are a connector service that helps connect borrowers with potential lenders. We are not a direct lender, and we don’t lend money. Instead, we provide a safe and easy way to search for a lender who may be willing to provide you with a loan.

We understand financial urgency and the need for a quick and reliable loan. That’s why we work hard to connect you with lenders who can meet your needs. Our online application process is simple, and you can apply within minutes. We offer competitive rates, so you can choose the best lender that suits your needs.

Conclusion

Payday loans are prohibited in West Virginia for a good reason. They are expensive and can lead borrowers into a cycle of debt. If you need a short-term loan, explore alternative options such as credit unions and personal loans. Additionally, consider applying for a loan with TheGuaranteedLoans for a safe and easy way to connect with potential lenders.

F.A.Q.

Can a payday loan company report me to a credit bureau in Anawalt, West Virginia?

No, a payday loan company cannot report you to a credit bureau in Anawalt, West Virginia because these loans are illegal in the state.

Can a payday loan company take me to court in Anawalt, West Virginia?

No, a payday loan company cannot take you to court in Anawalt, West Virginia because these loans are illegal in the state.

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