Payday Loans in Camden-on-Gauley, West Virginia

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No payday loan companies in Camden-on-Gauley, WV. Consider companies in other cities:

Company nameAddressZip codePhone number
ATM Paul's Exxon 3799 Ripley Rd, Point Pleasant, WV 25550
WesBanco Bank 910 Lafayette Ave, Moundsville, WV 26041 +1 (304) 843 - 0100
Raymond James Financial Services 2107 Pike St, Parkersburg, WV 26101 +1 (304) 420 - 2812
United States Postal Service 1194 Main St, Idamay, WV 26576 +1 (800) 275 - 8777
Huntington Mortgage Group 105 E Main St, Harrisville, WV 26362
The United Federal Credit Union 3 Sunset Beach Rd, Morgantown, WV 26508 +1 (304) 598 - 5010
United States Postal Service 8566 National Rd, Valley Grove, WV 26060 +1 (800) 275 - 8777
KV Jewelry and Loan - Dunbar 6 Dunbar Ave, Dunbar, WV 25064 +1 (304) 400 - 4809
MCNB Banks - Welch Banking Center 75 Wyoming St, Welch, WV 24801 +1 (304) 436 - 4112
United Bank 106 W Washington St, Charles Town, WV 25414 +1 (304) 728 - 8000

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Camden-on-Gauley, WV, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Charleston, WV, Emergency Loan in Huntington, WV, Payday Loan for 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 Camden-on-Gauley, WV.

Payday Loans Available in Camden-on-Gauley, WV By The Following ZIP Codes:

26208

Are Payday Loans Legal In Camden-on-Gauley, 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

Camden-on-Gauley, WV payday loan calculator

Payday Loans in Camden-on-Gauley, West Virginia: Understanding the Law

Are you in a tight financial spot and considering taking out a payday loan in Camden-on-Gauley, West Virginia? While this type of loan might seem like a quick and easy solution, it is important to understand the laws surrounding payday loans in West Virginia before taking any action.

The Law on Payday Loans in West Virginia

Payday loans are prohibited by law in West Virginia. This means that lenders cannot offer payday loans to consumers in the state. If you are offered a payday loan in West Virginia, it is likely from an unlicensed lender, and it is illegal.

The law in West Virginia does, however, allow for some other types of short-term loans. For example, installment loans and automobile title loans are not prohibited by law in the state.

Why are Payday Loans Prohibited in West Virginia?

The West Virginia legislature recognizes that payday loans can trap consumers in a cycle of debt, with high interest rates, fees, and short repayment terms that often lead to renewal and further fees. By prohibiting these loans, the state aims to protect its citizens from predatory lending practices.

Payday loans can be alluring, especially for those with poor credit who may not qualify for traditional loans. But the high fees and interest rates can lead to a debt spiral that is difficult to climb out of, leaving borrowers worse off than they were before.

What Are Some Alternatives to Payday Loans?

If you find yourself needing quick cash in Camden-on-Gauley, West Virginia, there are other options available to you:

  • Installment loans: Unlike payday loans, installment loans have longer repayment terms and lower interest rates. They allow you to borrow a larger amount of money and have more manageable payments.
  • Automobile title loans: If you own a vehicle, you can use it as collateral for a title loan. The amount you can borrow will depend on the value of your car, and you will be required to repay the loan in installments over a period of time.
  • Credit cards: If you have a credit card with an available balance, this can be another option for quick cash. Keep in mind that interest rates on credit cards can be high, however, so be sure to factor in the cost of interest when deciding if this is the best choice for you.
  • Borrow from family or friends: While this option may not be available to everyone, borrowing from someone you know can be a good alternative to taking out a loan with a high interest rate and fees.

Interesting Facts and Statistics about Payday Loans in Camden-on-Gauley, West Virginia

  • While payday loans are prohibited in West Virginia, some lenders still try to offer them illegally. These lenders may be unlicensed or based out of state, which can make it difficult for regulators to enforce the law.
  • In 2019, the average annual percentage rate (APR) for payday loans in West Virginia was 130.83 percent, according to the National Consumer Law Center. This is significantly higher than the APR for installment loans or other types of loans.
  • Payday lenders often target low-income individuals or those with poor credit, who may feel they have few other options for obtaining credit. In West Virginia, the poverty rate is higher than the national average, which makes it a prime target for payday lenders.

Apply Now

If you are in need of quick cash in West Virginia, TheGuaranteedLoans can help connect you with potential lenders. While we are not a direct lender, we are a connector service that works with a network of verified lenders who may be able to offer you the loan you need. To get started, simply fill out our online application. Remember to only borrow what you can afford to repay, and ensure you understand the terms and conditions of any loan you accept.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Camden-on-Gauley, West Virginia?

No, because payday loans are illegal in Camden-on-Gauley, West Virginia, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Camden-on-Gauley, West Virginia?

Yes, the state of West Virginia has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.

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