Payday Loans in Ballard, West Virginia

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

Company nameAddressZip codePhone number
Logan County School Employees Cu 3 Mile Curve, Logan, WV 25601 +1 (304) 752 - 1513
John Burdette & Associates 27 Franklin St 2253, Buckhannon, WV 26201 +1 (304) 472 - 3600
Cash-N More Inc 335 N Main St, New Martinsville, WV 26155 +1 (304) 455 - 3031
Bayer Heritage Federal Credit Union 411 Lafayette Ave, Moundsville, WV 26041 +1 (304) 455 - 4029
Huntington Bank 4753 WV-152, Lavalette, WV 25535 +1 (304) 529 - 6699
CNB Bank, Inc. 101 S Washington St, Berkeley Springs, WV 25411 +1 (304) 258 - 1520
Beckley Mortgage Services Inc 106 S Heber St, Beckley, WV 25801 +1 (304) 255 - 5400
Martinsburg VA Center Federal Credit Union 2971 Charles Town Rd, Kearneysville, WV 25430 +1 (844) 302 - 4391
Huntington Mortgage Group 105 E Main St, Harrisville, WV 26362
Freedom Bank 625 W Main St, Bridgeport, WV 26330 +1 (304) 842 - 4424

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ballard, WV, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Charleston, WV, Guaranteed Loans in Huntington, WV, 24-Hour Loan in Morgantown, WV and Payday Loan Companies 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 Ballard, WV.

Beautiful sights of Ballard, WV

Are Payday Loans Legal In Ballard, 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

Ballard, WV payday loan calculator

Payday Loans: What You Need to Know Before Applying in Ballard, West Virginia

Payday loans are small, short-term loans that are typically due on your next payday. They can be a quick solution for those in need of cash, but they come with high interest rates and fees. It’s important to understand the laws and regulations surrounding payday loans in your state before considering applying for one. In Ballard, West Virginia, payday loans are prohibited.

What Are Payday Loans?

Payday loans are usually for small amounts, typically a few hundred dollars or less, and are due on your next payday. They are meant to be a short-term solution for those in need of immediate cash. Most payday loans require proof of income, such as a pay stub or bank statement, and a valid form of identification.

However, in West Virginia, payday loans are prohibited. The West Virginia Consumer Credit and Protection Act caps interest rates at 31% APR for loans of $2,000 or less, making traditional payday loans illegal in the state.

Why Are Payday Loans Prohibited in West Virginia?

The state of West Virginia has determined that payday loans pose a significant risk to consumers. The high interest rates and fees associated with payday loans can trap borrowers in a cycle of debt, making it difficult to repay the loan in full. In addition, payday lenders have been known to engage in predatory practices, such as rolling over loans to extend their repayment period and charging exorbitant fees.

Furthermore, many payday lenders have been shown to target low-income and vulnerable populations, leading to financial instability and hardship for those already struggling to make ends meet.

What Are Some Alternatives to Payday Loans in Ballard, West Virginia?

If you’re in need of cash and can’t get a payday loan in West Virginia, there are several alternatives that may work for you. First, consider asking friends or family for a loan. This can be a more reliable and affordable option, as you can often repay the loan without interest or fees.

You can also consider a personal loan from a traditional bank or credit union. These loans can offer lower interest rates and more manageable repayment terms. However, keep in mind that the application process for these loans can be more rigorous, and approval is not guaranteed.

If you have a credit card, you may also be able to use it for a cash advance. While interest rates can be high, they are typically lower than the rates associated with payday loans.

Interesting Facts and Statistics About Payday Loans in Ballard, West Virginia

  • Payday loans are prohibited in West Virginia under the West Virginia Consumer Credit and Protection Act.
  • West Virginia has one of the lowest median household incomes in the country, making it a target for predatory lending practices.
  • In states where payday lending is legal, the average payday loan borrower takes out eight loans per year.
  • The average interest rate on a payday loan is 391% APR.

Apply Now

If you’re in need of cash and want to explore your borrowing options, TheGuaranteedLoans can help connect you with potential lenders. Keep in mind that we are not a direct lender, but a connector service that can help you find the right loan for your needs. To apply, simply fill out our online application and we’ll do the rest.

Remember to always read the terms and conditions of any loan before signing on the dotted line. With a little research and careful consideration, you can find the right loan for your needs without falling prey to predatory lending practices.

F.A.Q.

Can I be sued for not paying back a payday loan in Ballard, West Virginia?

Because payday loans are illegal in Ballard, West Virginia, lenders cannot sue borrowers for not paying back the loan. However, borrowers may still be responsible for paying back any money they borrowed, even if the loan was illegal.

Can payday loan lenders garnish my wages in Ballard, West Virginia?

No, payday loan lenders cannot garnish your wages in Ballard, West Virginia because payday loans are illegal in the state.

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