Payday Loans in Dry Creek, West Virginia

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

Company nameAddressZip codePhone number
Capon Valley Bank 2 W Main St, Wardensville, WV 26851 +1 (304) 874 - 3531
Just Pawn It 3196 Northwestern Turnpike, Capon Bridge, WV 26711 +1 (304) 856 - 1211
Wes Banco Bank 2100 National Rd, Wheeling, WV 26003 +1 (304) 243 - 7550
Walmart Money Center 2900 Pike St, Parkersburg, WV 26101
loanDepot 3772 Teays Valley Road 3, Hurricane, WV 25526 +1 (304) 200 - 7010
City National Bank 142 Sader Dr, Inwood, WV 25428 +1 (304) 229 - 0400
Raymond James - First Community Wealth Management 211 Federal St, Bluefield, WV 24701 +1 (304) 325 - 7334
First People's Community Federal Credit Union Ridgeley, WV 26753 +1 (304) 726 - 4625
Wells Fargo Home Mortgage 33 Erskine Ln Suite D, Scott Depot, WV 25560 +1 (304) 760 - 7481
Huntington Bank 219 Leon Sullivan Way, Charleston, WV 25301 +1 (304) 348 - 5077

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dry Creek, 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, Payday Loan Without a Credit Check 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 Dry Creek, WV.

Are Payday Loans Legal In Dry Creek, 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

Dry Creek, WV payday loan calculator

In the state of West Virginia, payday loans are prohibited by law. This means that if you are a resident of Dry Creek, West Virginia, you won’t be able to get a payday loan from any lender, regardless of whether the lender is located in or outside of the state.

What is a payday loan?

Before we go any further, it’s important to understand what a payday loan is and why they are prohibited in West Virginia. A payday loan is a short-term loan that is typically due on your next payday. These loans often come with extremely high-interest rates and fees and are used by individuals who need quick cash to cover an unexpected expense or financial emergency.

Despite their convenience, payday loans have been heavily criticized for their exorbitant fees and interest rates, which can trap borrowers in a cycle of debt. In fact, according to a study by the Consumer Financial Protection Bureau, over 80% of payday loans are rolled over or renewed within two weeks, indicating that many borrowers are unable to pay off their loans on time. This results in additional fees and interest charges, making it even more difficult for borrowers to escape the cycle of debt.

Payday loans in West Virginia

In 2006, the West Virginia Legislature passed a law that prohibits payday loans in the state. The law states that “no licensee may make a payday loan to a consumer if the loan would result in the consumer being indebted to one or more payday lenders for a period in excess of 45 consecutive days.”

This means that if you are a resident of Dry Creek, West Virginia, you will not be able to obtain a payday loan from any lender, whether it is a storefront lender or an online lender.

Alternatives to payday loans

While payday loans may seem like a quick and easy solution to a financial emergency, they come with high-interest rates and fees that can trap you in a cycle of debt. Fortunately, there are other options available to you if you need quick cash.

  • Credit card cash advance: If you have a credit card, you may be able to take out a cash advance. However, keep in mind that cash advances often come with high-interest rates and fees, so it’s important to repay the amount as soon as possible.
  • Personal loan: A personal loan from a bank or credit union may be a better option than a payday loan. Personal loans often have lower interest rates and longer repayment periods.
  • Selling unused items: If you have items that you no longer need or use, you may be able to sell them for quick cash.
  • Borrow from friends or family: While it may be uncomfortable, borrowing from friends or family may be a better option than taking out a payday loan.

Interesting Payday Loans Facts and Statistics

  • Payday loans are banned in 15 states in the US, including West Virginia.
  • According to a study by the Pew Charitable Trusts, the average payday loan borrower is in debt for five months out of the year, spending an average of $520 in fees on loans that average $375.
  • The Consumer Financial Protection Bureau found that the median payday loan amount is $350, and the median fee is $15 per $100 borrowed.
  • Between 2012 and 2016, payday lenders in West Virginia attempted to charge borrowers over $300 million in fees and interest on payday loans.

Apply Now

If you are in need of quick cash, you can apply for a title loan through TheGuaranteedLoans. We are a connector service that connects borrowers with potential lenders. Our application process is simple, fast, and secure. Simply fill out our online application and we will match you with a lender who can provide you with the funds you need.

It’s important to remember that TheGuaranteedLoans is not a direct lender. We are a connector service that facilitates a connection between borrowers and lenders. Once we connect you with a lender, you will be subject to their terms and conditions, including interest rates and fees.

Conclusion

Payday loans may seem like a quick and easy solution to a financial emergency, but they come with high-interest rates and fees that can trap you in a cycle of debt. Fortunately, there are alternatives available to you if you need quick cash, such as credit card cash advances, personal loans, selling unused items, or borrowing from friends or family.

If you decide to apply for a title loan through TheGuaranteedLoans, remember that we are a connector service and not a direct lender. It’s important to read and understand the terms and conditions of any loan offer before accepting it.

F.A.Q.

Are there any other options for fast cash in Dry Creek, West Virginia?

Consumers in Dry Creek, West Virginia may be able to access funds through a credit union or bank loan, or by using a credit card or personal loan. It is also possible to sell assets or ask friends or family for financial assistance.

Are payday loans legal in Dry Creek, West Virginia?

No, payday loans are prohibited in the state of West Virginia.

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