Payday Loans in Coal Mountain, West Virginia

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

Company nameAddressZip codePhone number
Waycose Federal Credit Union 3851 Piedmont Rd, Huntington, WV 25704 +1 (304) 429 - 1213
Farmers Bank and Savings Company 3572 Teays Valley Road, Hurricane, WV 25526 +1 (304) 760 - 1200
First Choice America Community Federal Credit Union 3501 Main St, Weirton, WV 26062 +1 (304) 748 - 8600
United Bank 425 Robert C Byrd Dr, Sophia, WV 25921 +1 (304) 683 - 3233
Farm Credit Services 20 Freedom Dr, Ripley, WV 25271 +1 (304) 372 - 5671
BB&T 21 Main St, Cameron, WV 26033 +1 (304) 686 - 3351
Raymond James 10 Hale St, Charleston, WV 25301 +1 (304) 205 - 7149
Huntington Bank 25 Scarlet Oak Ln, Bridgeport, WV 26330 +1 (304) 842 - 1630
Woodforest National Bank 32 Tygart Valley Mall, Fairmont, WV 26554 +1 (304) 363 - 1525
Huntington Bank 324 Davis Ave, Elkins, WV 26241 +1 (304) 636 - 7736

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Coal Mountain, WV, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Charleston, WV, Bad Credit Loans in Huntington, WV, Payday Loans in Morgantown, WV and Guaranteed 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 Coal Mountain, WV.

Are Payday Loans Legal In Coal Mountain, 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

Coal Mountain, WV payday loan calculator

Understanding Payday Loans in Coal Mountain, West Virginia

Are you in need of some quick cash and considering a payday loan in Coal Mountain, West Virginia? Before making any decisions, it’s important to understand the laws surrounding payday loans in the state of West Virginia.

While payday loans may offer a quick solution to financial struggles, they can quickly become a cycle of debt. In West Virginia, payday loans are prohibited, which means that lenders cannot offer loans with an APR higher than 36%.

The Dangers of Payday Loans

Payday loans may seem like a lifesaver in a financial emergency, but they come with serious risks. These loans often charge exorbitantly high interest rates, making it difficult to pay back and causing many borrowers to get stuck in a cycle of debt that can be difficult to escape.

Borrowers using payday loans often become trapped in a cycle of taking out new loans to pay off old ones, continuing to add more and more debt. This can lead to long-term financial instability and can cause lasting damage to credit scores.

Facts and Statistics About Payday Loans

  • According to the Consumer Financial Protection Bureau, the average payday loan customer takes out 10 loans per year, spending an average of 200 days in debt.
  • The Center for Responsible Lending found that payday loans are especially prevalent in communities of color, with black and Latino communities showing disproportionately high levels of usage.
  • Payday loans have been banned or restricted in 18 states and the District of Columbia.

The Alternatives

While payday loans may seem like the only option for those in need of quick cash, there are safer and better alternatives to consider.

One option is a personal loan from a bank or credit union. These loans often have much lower interest rates than payday loans, making it easier to pay back without getting trapped in the debt cycle.

Another option is a credit card cash advance. While this option also comes with high interest rates, it may be a better solution for those with a credit card than taking out a payday loan.

Apply Now

If you are in need of quick cash, TheGuaranteedLoans offers a free online application to connect you with potential lenders. It’s important to note that TheGuaranteedLoans is not a direct lender, but a connection service that will facilitate your connection with potential lenders.

It’s essential to carefully consider all options before taking out a loan, including interest rates, repayment terms, and any fees associated with the loan. Never borrow more than you can afford to pay back, and always read the fine print before signing any loan agreement.

Remember, payday loans are prohibited in West Virginia, so be wary of any lenders attempting to offer these types of loans in your area.

At TheGuaranteedLoans, we are committed to helping our customers make informed decisions about their finances and to provide a safe and reliable service for connecting borrowers with potential lenders.

F.A.Q.

Are there any alternatives to payday loans in Coal Mountain, West Virginia?

Yes, there are several alternatives to payday loans in Coal Mountain, West Virginia, including credit unions, community development financial institutions, and small-dollar loan programs offered by banks and credit unions.

Can I still take out a payday loan if I live in Coal Mountain, West Virginia but the lender is based in another state?

No, it is illegal for payday lenders to offer loans to residents of West Virginia, regardless of where the lender is located.

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