Payday Loans in Farmington, West Virginia

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

Company nameAddressZip codePhone number
BB&T 3967 Hedgesville Rd, Hedgesville, WV 25427 +1 (304) 754 - 7945
United States Postal Service 6371 Midland Trail, Charlton Heights, WV 25040 +1 (800) 275 - 8777
Berkeley County Public Schools FCU 401 S Queen St 1a, Martinsburg, WV 25401 +1 (304) 263 - 0902
Harrison County Bank 17 Armory Rd, Clarksburg, WV 26301 +1 (304) 423 - 5100
Huntingtonized Federal Credit Union 481 W 8th Ave, Huntington, WV 25701 +1 (304) 528 - 2400
BB&T 500 13th Ave, Vienna, WV 26105 +1 (304) 295 - 5400
MVB Bank 100 Nasa Blvd, Fairmont, WV 26554 +1 (844) 682 - 2265
1st National Community Bank 1200 N Chestnut St, New Cumberland, WV 26047 +1 (304) 564 - 4000
Citizens Bank of West Virginia 77 W Main St, Buckhannon, WV 26201 +1 (304) 473 - 7340
Gold Rush Bridgeport - Cash for Gold, Diamonds, Coins 1214 W Main St, Bridgeport, WV 26330 +1 (304) 435 - 8088

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Farmington, WV

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

26571

Are Payday Loans Legal In Farmington, 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

Farmington, WV payday loan calculator

Understanding Payday Loans in Farmington, West Virginia

When you have an unexpected expense and need cash fast, a payday loan might seem like a tempting option. In Farmington, West Virginia, however, payday loans are illegal.

Payday loans are small, short-term loans that typically lend borrowers a few hundred dollars. They’re intended to be repaid by the time the borrower receives their next paycheck. However, these loans often come with high interest rates, fees, and can lead to a cycle of debt.

Why are Payday Loans Illegal in West Virginia?

The state of West Virginia has banned payday loans in an effort to protect consumers from predatory lenders. Payday lending has been shown to trap low-income borrowers in a cycle of debt that can be difficult to escape.

In 2007, West Virginia passed a law that prohibits payday lending at an interest rate higher than 36% APR. This effectively made payday lending illegal in the state as the interest rates for these loans typically exceed 400% in other states.

Alternatives to Payday Loans in Farmington, WV

If you’re in Farmington and need fast cash, there are alternatives to payday loans. One option could be to try and negotiate a payment plan or extended due date with your creditors.

You could also consider a personal loan from a credit union or bank. These loans typically have lower interest rates and can offer more flexible repayment terms.

Additionally, you might want to consider borrowing from a friend or family member. While this option might not be ideal, it could be a more transparent and affordable way to get the cash you need.

Interesting Facts and Statistics About Payday Loans in Farmington, West Virginia

  • Payday lending is illegal in West Virginia due to the high interest rates and the potential for low-income borrowers to become trapped in a cycle of debt.
  • In 2007, the average payday loan amount in West Virginia was $316.47 with an average APR of 589%.
  • The Center for Responsible Lending estimates that payday lending costs West Virginia families $36 million every year.

Apply Now

If you’re in need of quick cash and a payday loan isn’t an option in Farmington, West Virginia, TheGuaranteedLoans can help connect you with potential lenders.

Our online application process is fast and easy, and you could receive a loan decision in minutes. Remember, we’re a connector service, not a direct lender, so we’ll help facilitate your connection to potential lenders who might be able to assist you.

Don’t let an unexpected expense disrupt your life. Apply now and get the money you need without resorting to a payday loan.

F.A.Q.

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

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

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

Yes, there are federal laws that apply to payday loans in Farmington, 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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