Payday Loans in Fraziers Bottom, West Virginia

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

Company nameAddressZip codePhone number
Mountain Heritage FCU 1822 7th St, Parkersburg, WV 26101 +1 (304) 424 - 7256
Summit Community Bank 251 E Main St, West Union, WV 26456 +1 (304) 873 - 2401
First Community Bank 110 N Pike St, Grafton, WV 26354 +1 (304) 265 - 1111
Raymond James Financial Services 101 5th Ave, Huntington, WV 25701 +1 (304) 522 - 4580
Miners and Merchants Bank 16000 Appalachian Hwy, Thomas, WV 26292 +1 (304) 463 - 4155
Fayette County National Bank 1554 E Main St, Oak Hill, WV 25901 +1 (304) 469 - 2555
Walmart Money Center 800 Foxcroft Ave, Martinsburg, WV 25401
Chase Bank 558 Railroad Ave, Elkview, WV 25071 +1 (304) 348 - 6984
Whitesville State Bank 38609 Coal River Rd, Whitesville, WV 25209 +1 (304) 854 - 1271
Capon Valley Bank 17558 WV-55, Baker, WV 26801 +1 (304) 897 - 7177

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Fraziers Bottom, 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, No Credit Check 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 Fraziers Bottom, WV.

Are Payday Loans Legal In Fraziers Bottom, 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

Fraziers Bottom, WV payday loan calculator

Payday Loans in Fraziers Bottom, West Virginia

If you’re in a financial bind and need cash quick, you may think a payday loan is the answer. In Fraziers Bottom, West Virginia, however, payday lending is prohibited. While it may be tempting to seek a payday loan from a lender online, it is crucial to understand the risks involved.

What is a Payday Loan?

A payday loan is a short-term, high-interest loan. Generally, these loans are for small amounts of money, often $500 or less. Borrowers usually promise to repay the loan with their next paycheck. However, these loans often come with exorbitant interest rates and fees.

Why are Payday Loans Prohibited in West Virginia?

In 2001, the West Virginia Legislature passed a law that, among other things, prohibited payday lending. The law was passed because payday lending can trap borrowers in a cycle of debt. Payday lending can quickly turn into a cycle where borrowers must take out new payday loans to pay off their old payday loans, leading to a never-ending spiral of debt.

What are the Risks of Seeking a Payday Loan in Fraziers Bottom, West Virginia?

Since payday loans are illegal in West Virginia, any lender willing to provide a payday loan to a resident of Fraziers Bottom is operating outside of the law. Borrowing money from an illegal lender could result in significant legal problems. Furthermore, many online payday lenders are predatory, taking advantage of vulnerable borrowers with hidden fees and high-interest rates.

Alternatives to Payday Loans in Fraziers Bottom, West Virginia

The good news is that there are alternative options for those in need of cash in Fraziers Bottom. These options include:

  • A personal loan from a reputable lender
  • A credit card cash advance
  • Borrowing money from friends or family

The key is to find a lending option with reasonable interest rates and terms that fit your budget.

Interesting Facts about Payday Loans in Fraziers Bottom, West Virginia

Did you know that:

  • In the state of West Virginia, payday loans are illegal and carry steep penalties for lenders who offer them?
  • The average payday loan borrower in the United States takes out eight loans per year?
  • The average payday loan in the United States carries an annual interest rate of 391 percent?

Apply Now

While payday loans are illegal in Fraziers Bottom, there are still lending options available if you find yourself in a financial bind. At TheGuaranteedLoans, we can help connect you with a reputable lender that suits your needs and budget. Fill out the online application today to learn more about your lending options. Remember, TheGuaranteedLoans is a connector service, not a direct lender. We will facilitate your connection with potential lenders who can help you get the financing you need.

F.A.Q.

What are the penalties for offering or taking out a payday loan in Fraziers Bottom, West Virginia?

Offering or taking out a payday loan in Fraziers Bottom, West Virginia is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Fraziers Bottom, West Virginia?

No, there are no exceptions to the payday loan prohibition in Fraziers Bottom, West Virginia.

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