Payday Loans in Edmond, West Virginia

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

Company nameAddressZip codePhone number
Chase Bank 210 Great Teays Blvd, Scott Depot, WV 25560 +1 (304) 760 - 1101
Loan Assistance 650 Jennmar Dr, Reedsville, WV 26547 +1 (304) 296 - 1448
Lendmark Financial Services 6006 Us Route 60 E, Barboursville, WV 25504 +1 (304) 736 - 9581
Prudential Mike Valero Life Insurance & Financial Services 929 Main St, Follansbee, WV 26037 +1 (304) 527 - 4200
City National Bank 1004 Bridge Rd, Charleston, WV 25314 +1 (304) 926 - 3375
Jackson Hewitt Tax Service 83 S Grafton St, Romney, WV 26757 +1 (304) 822 - 7670
Chase Mortgage 1507 Johnson Ave, Bridgeport, WV 26330 +1 (304) 842 - 2368
BB&T 5638 US-60, Huntington, WV 25705 +1 (304) 736 - 2526
Walls & Associates, PLLC 1025 N Main St, Milton, WV 25541 +1 (304) 390 - 5971
Universal Federal Credit Union 117 Mall Rd, Barboursville, WV 25504 +1 (304) 302 - 2023

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Edmond, 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 for 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 Edmond, WV.

Are Payday Loans Legal In Edmond, 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

Edmond, WV payday loan calculator

The Truth About Payday Loans in Edmond, West Virginia

Payday loans are a form of short-term lending that has been around for several decades. However, in the state of West Virginia, payday loans are prohibited. Edmond, a small town in West Virginia, is no exception.

While payday loans may seem like a quick and easy solution to financial troubles, they often come with high-interest rates and fees that can lead to a cycle of debt. In this article, we’ll take a more in-depth look at payday loans, including why they are prohibited in West Virginia, and what alternative options may be available in Edmond.

Why Are Payday Loans Prohibited in West Virginia?

West Virginia is one of several states that have made payday lending illegal. In 2007, West Virginia passed legislation to prohibit payday lenders from operating in the state. This was due to concerns about the high-interest rates and fees associated with payday loans.

Payday lenders typically offer small-dollar loans that are due on the borrower’s next payday. However, the interest rates on these loans can be as high as 400% APR. This means that borrowers can end up paying back significantly more than they originally borrowed.

The high interest rates and fees associated with payday loans have been linked to a cycle of debt, where borrowers take out additional loans to pay off their original loan, resulting in even higher fees and interest charges.

What Are the Alternatives to Payday Loans in Edmond?

Just because payday loans are prohibited in West Virginia doesn’t mean that residents of Edmond don’t have other options when they need quick cash. Some alternatives to payday loans in Edmond include:

  • Credit union loans
  • Personal loans
  • Loan from family or friends
  • Credit card cash advances
  • Selling items you no longer need

Each of these options comes with its own set of pros and cons. For example, a loan from family or friends may be interest-free, but it could also strain relationships if the borrower is unable to repay the loan. Credit card cash advances often come with high-interest rates and fees, while selling items may not provide immediate cash.

Ultimately, the best option for someone in need of quick cash will depend on their individual circumstances. It’s important to weigh the pros and cons of each option and choose the one that makes the most sense financially.

Interesting Facts and Statistics About Payday Loans in Edmond

  • West Virginia is one of 16 states that have banned payday lending.
  • The average APR on a payday loan in West Virginia is 130%.
  • In 2019, the West Virginia Attorney General’s Office received 940 complaints about predatory lending practices.
  • One study found that payday lending had a negative impact on the financial health of those who used it, as they were more likely to file for bankruptcy and receive collection calls.

Apply Now

If you’re in need of quick cash and are considering a payday loan, it’s important to explore all of your options. At TheGuaranteedLoans, we can help connect you with potential lenders who offer a variety of loan options. Please note that we are not a direct lender, but rather a connection service.

If you’re interested in learning more about our services and potentially applying for a loan through one of our partner lenders, please visit our website and fill out an online application.

We understand that financial stress can be overwhelming, but taking the time to research your options and make a thoughtful decision can help you take control of your finances in the long run.

F.A.Q.

Can a payday loan company report me to a credit bureau in Edmond, West Virginia?

No, a payday loan company cannot report you to a credit bureau in Edmond, West Virginia because these loans are illegal in the state.

Can a payday loan company take me to court in Edmond, West Virginia?

No, a payday loan company cannot take you to court in Edmond, West Virginia because these loans are illegal in the state.

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