Payday Loans in Bolt, West Virginia

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

Company nameAddressZip codePhone number
Preston Federal Credit UNION 434 E Main St, Kingwood, WV 26537 +1 (304) 329 - 2699
Lucky Day Pawn and Loan 109 Tolley Dr, Bridgeport, WV 26330 +1 (304) 933 - 3889
City National Bank 6888 McClellan St, West Hamlin, WV 25571 +1 (304) 824 - 7225
Community Bank 3 S Locust St, Buckhannon, WV 26201 +1 (304) 472 - 0052
United Bank 234 Grand Central Ave, Vienna, WV 26105 +1 (304) 485 - 3811
One Community Federal Credit Union 531 Fifth St, Parkersburg, WV 26101 +1 (304) 485 - 4066
BB&T - North Lewisburg Branch HC 82 BOX 39A, Lewisburg, WV 24901 +1 (304) 647 - 5187
Chase Bank 500-600 Neville St, Beckley, WV 25801 +1 (304) 256 - 2273
Paradise Pawn 482 Williamsport Pike, Martinsburg, WV 25404 +1 (304) 263 - 8100
Lendmark Financial Services 6006 Us Route 60 E, Barboursville, WV 25504 +1 (304) 736 - 9581

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bolt, WV, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Charleston, WV, Payday Loans in Huntington, WV, Same Day Loans in Morgantown, WV and Payday 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 Bolt, WV.

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

25817

Are Payday Loans Legal In Bolt, 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

Bolt, WV payday loan calculator

Payday Loans in Bolt, West Virginia: What You Need to Know

Payday loans can seem like the perfect solution for those in need of quick cash. However, in West Virginia, payday loans are prohibited, and for good reason. These types of loans have high interest rates and fees that can trap borrowers in a cycle of debt. This article will explore the dangers of payday loans in Bolt, West Virginia and provide alternative options for those in need of financial assistance.

The Dangers of Payday Loans

Payday loans are short-term loans that are typically due on the borrower’s next payday. They are typically small-dollar loans, ranging from $100 to $500, and come with high-interest rates and fees. According to a report by the Consumer Financial Protection Bureau, the average annual percentage rate (APR) for a payday loan is 391%. This means that if a borrower takes out a $500 payday loan, they could end up paying back $575 in just two weeks.

The high interest rates and fees associated with payday loans can trap borrowers in a cycle of debt. Many borrowers are unable to repay the loan on their next payday and are forced to roll over the loan or take out another one. This can lead to a cycle of debt that is difficult to escape from. According to a report by the Pew Charitable Trusts, the average payday loan borrower takes out eight loans per year and spends 152 days in debt.

Alternative Options

If you are in need of financial assistance, there are alternative options to payday loans that are available in West Virginia. These options include:

  • Personal loans: Personal loans are typically offered by banks and credit unions and come with lower interest rates than payday loans. However, they may require a credit check and can take longer to obtain.
  • Credit counseling: Credit counseling services can provide free or low-cost assistance with managing debt and creating a budget.
  • Government assistance: There are a variety of government assistance programs available to those in need, including food assistance, housing assistance, and healthcare assistance.

Interesting Facts and Statistics

While payday loans are prohibited in West Virginia, other states have implemented regulations to protect borrowers from the dangers of these loans. According to a report by the Center for Responsible Lending:

  • 18 states and the District of Columbia have implemented interest rate caps of 36% or less on payday loans.
  • 15 states and the District of Columbia have implemented laws that limit the number of loans that a borrower can take out each year.
  • 14 states and the District of Columbia have implemented laws that require payday lenders to offer extended payment plans to borrowers who are unable to repay their loans on time.

Apply Now

If you are in need of financial assistance, TheGuaranteedLoans can help. We are a connector service that can facilitate your connection with potential lenders. Our online application process is quick and easy and can help you get the funds you need as soon as possible. Please note that we are not a direct lender and do not provide loans ourselves. We work with a network of trusted lenders who can provide you with the financial assistance you need.

Don’t let the dangers of payday loans trap you in a cycle of debt. Explore alternative options and apply for financial assistance through TheGuaranteedLoans today.

F.A.Q.

Can a payday loan company file a lawsuit against me in Bolt, West Virginia?

No, a payday loan company cannot file a lawsuit against you in Bolt, West Virginia because these loans are illegal in the state.

Are there any federal laws that apply to payday loans in Bolt, West Virginia?

Yes, there are federal laws that apply to payday loans in Bolt, West Virginia, including the Military Lending Act and the Truth in Lending Act. These laws provide protections for consumers and regulate the practices of payday lenders.

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