Payday Loans in Glen Rogers, West Virginia

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

Company nameAddressZip codePhone number
Stone Capital Management Inc 207 Brookshire Ln, Beckley, WV 25801 +1 (304) 256 - 3981
United Bank 274 WV-34, Hurricane, WV 25526 +1 (304) 757 - 7575
City National Bank 4th Ave &, Washington St, Montgomery, WV 25136 +1 (304) 442 - 6000
Raymond James Financial Services 2513 Jackson Ave, Point Pleasant, WV 25550 +1 (304) 675 - 8130
First State Bank 6441 Farmdale Rd, Barboursville, WV 25504 +1 (304) 736 - 5271
First Community Bank 298 Stokes Dr, Hinton, WV 25951 +1 (304) 466 - 5502
Camden Clark Memorial Hospital Federal Credit Union 801 Ann St, Parkersburg, WV 26101 +1 (304) 424 - 2255
Zen Mortgage Group formerly Zen Loans 114 Hovatter Dr, Inwood, WV 25428 +1 (304) 229 - 1700
Chase Bank 755 Stratton St, Logan, WV 25601 +1 (304) 752 - 5750
United Bank 1 Rosemar Cir, Parkersburg, WV 26104 +1 (304) 424 - 6300

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Glen Rogers, WV

Are Payday Loans Legal In Glen Rogers, 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

Glen Rogers, WV payday loan calculator

As financial needs arise, people often turn to payday loans as a quick solution. However, in West Virginia, payday loans are prohibited by law. In this article, we will take a deeper dive into payday loans in Glen Rogers, West Virginia, exploring why they are prohibited and offering alternatives for those who may need financial assistance.

Understanding Payday Loans

Payday loans are short-term, high-interest loans designed to be paid back on the borrower’s next payday. These loans are available to anyone with a source of income, regardless of their credit score. Typically, payday loans must be repaid within two weeks, with the borrower either repaying the amount borrowed in full or the lender cashing the borrower’s post-dated check.

While payday loans may seem like a quick fix for those in need of financial assistance, the high-interest rates associated with these loans often lead to financial difficulty for borrowers. In West Virginia, lawmakers have taken action to protect consumers from the dangers of payday loans.

Payday Loans in West Virginia

In 2007, West Virginia passed laws prohibiting payday lending within the state. The West Virginia Consumer Credit and Protection Act outlines the maximum interest rates lenders can charge for various types of loans, explicitly prohibiting payday loans with interest rates exceeding 31% APR.

Despite the state’s laws, some payday lenders have tried to skirt regulations by partnering with out-of-state banks, which are not subject to West Virginia law. However, the state’s Attorney General has taken action against these lenders, shutting down illegal payday lending operations and protecting consumers from predatory lending practices.

Alternatives to Payday Loans

If you are in need of financial assistance but cannot rely on payday loans, there are several alternatives available. One option is to consider credit counseling services. These services can help you manage your finances, create a budget, and develop a plan to achieve your financial goals.

Another alternative is to consider personal loans. Personal loans may be available through banks, credit unions, or online lenders. While interest rates on personal loans may still be high, they are typically lower than those associated with payday loans.

You may also consider reaching out to family or friends for assistance. While it can be difficult to ask for help, loved ones may be willing to provide financial assistance without the high-interest rates associated with payday loans.

Facts and Statistics about Payday Loans in Glen Rogers, West Virginia

  • As of 2021, payday loans are prohibited by law in West Virginia.
  • In 2019, West Virginia’s Attorney General shut down three payday lending operations that had been illegally operating in the state.
  • In 2016, West Virginia also passed a law limiting the interest rate on car title loans to 27% APR.
  • According to a 2019 study by the Consumer Financial Protection Bureau, about 80% of payday loans are rolled over or renewed, resulting in borrowers paying more in interest and fees than the original loan amount.
  • The same study found that payday loans trap borrowers in a cycle of debt, with 1 in 4 borrowers taking out more than 9 payday loans per year.

Apply Now

While payday loans are illegal in West Virginia, TheGuaranteedLoans offers a connector service to help you find potential lenders for personal loans. By filling out our online application, we can help you connect with lenders who may be able to assist you with your financial needs. Please note that TheGuaranteedLoans is not a direct lender and does not make loan decisions. Rather, we work with lenders to facilitate your connection and assist you in finding the financial assistance you need.

If you are in need of financial assistance, we encourage you to explore alternatives to payday loans and to consider filling out an application with TheGuaranteedLoans to connect with potential lenders.

F.A.Q.

Can I take out a payday loan online in Glen Rogers, West Virginia?

No, even if the lender is located outside of West Virginia, it is illegal to take out a payday loan online in this state.

Can I take out a payday loan from a lender in another state and use it in Glen Rogers, West Virginia?

No, it is illegal to use a payday loan from another state in Glen Rogers, West Virginia.

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