Payday Loans in Hico, West Virginia

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

Company nameAddressZip codePhone number
Advance Auto Parts 990 Dunbar Ave, Dunbar, WV 25064 +1 (304) 766 - 1560
Auto Choice 1201 Lafayette Ave, Moundsville, WV 26041 +1 (304) 845 - 2157
Huntington Bank 429 Market St, Parkersburg, WV 26101 +1 (304) 424 - 7500
Ravenswood Federal Credit Union 702 Washington St, Ravenswood, WV 26164 +1 (304) 273 - 0515
City National Bank 1, Main St, Gauley Bridge, WV 25085 +1 (304) 632 - 1333
Raleigh County Educators Fed CU 105 Adair St, Beckley, WV 25801 +1 (304) 256 - 4600
Preston Federal Credit UNION 434 E Main St, Kingwood, WV 26537 +1 (304) 329 - 2699
Walmart Money Center 100 Wal-Mart Drive, Kingwood, WV 26537
BB&T 7 Harman Ctr, Grafton, WV 26354 +1 (304) 265 - 3400
Josh Schmalz 260 Gihon Village, Parkersburg, WV 26101 +1 (304) 905 - 7027

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Hico, WV, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Charleston, WV, Guaranteed Loans in Huntington, WV, Payday Loans in Morgantown, WV and Bad Credit 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 Hico, WV.

Beautiful sights of Hico, WV

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

25854

Are Payday Loans Legal In Hico, 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

Hico, WV payday loan calculator

Understanding Payday Loans in Hico, West Virginia

Are you looking for quick cash in Hico, West Virginia? You may be tempted to take out a payday loan, but unfortunately, payday loans are prohibited in West Virginia. In this article, we’ll explore the reasons why payday loans are illegal in West Virginia, as well as other options you can consider if you need fast cash.

Why Payday Loans are Prohibited in West Virginia

Payday loans are a type of short-term loan that typically must be repaid on the borrower’s next payday. While payday loans may seem like a quick fix for those in need of cash, they often come with extremely high interest rates and fees, making them difficult to repay.

In West Virginia, payday loans are prohibited under the West Virginia Consumer Credit and Protection Act. This law caps interest rates on consumer loans at 31% per year, effectively making payday lending illegal in the state.

The reason for this law is to protect consumers from predatory lending practices. Payday lenders often target low-income individuals who are in urgent need of cash, but may not fully understand the terms of the loan they’re taking out. By restricting payday lending, West Virginia is working to ensure that its citizens are not taken advantage of by high-interest lenders.

It’s important to note that while payday loans are illegal in West Virginia, there are still plenty of other loan options available to those in need of quick cash.

Alternatives to Payday Loans in West Virginia

  • Personal loans: One option to consider is a personal loan from a bank, credit union, or online lender. Personal loans typically come with lower interest rates than payday loans, and often offer more flexible repayment terms.
  • Credit cards: If you have a credit card with available credit, you may be able to use it to cover unexpected expenses. While credit cards also come with interest rates, they may still be a more affordable option than payday loans.
  • Installment loans: Another option is an installment loan, which allows you to borrow a fixed amount of money and repay it in regular installments over a set period of time. Installment loans may come with higher interest rates than personal loans, but can still be a good alternative to payday loans.
  • Credit counseling: If you’re struggling with debt, credit counseling may be a good option. Credit counselors can work with you to create a budget and explore debt repayment options.

Remember, it’s important to carefully consider all of your options before taking out a loan. Make sure you understand the terms and repayment requirements before signing any loan agreement.

Interesting Facts About Payday Loans in Hico, West Virginia

  • Payday loans have been illegal in West Virginia since 2007.
  • The West Virginia Consumer Credit and Protection Act also prohibits other types of high-interest loans, including title loans and tax anticipation loans.
  • The average payday loan borrower takes out eight loans per year, and spends nearly $600 on interest alone.
  • Payday lenders have been known to target military members, who are often in need of quick cash due to deployments or other unexpected expenses.

Apply Now

If you’re in need of quick cash, TheGuaranteedLoans can help connect you with potential lenders. Keep in mind, however, that we are not a direct lender and do not make lending decisions. Instead, we provide a service that helps connect borrowers with potential lenders who may be able to offer them a loan.

To get started, simply fill out our online application. We’ll ask for basic information about your income and employment, as well as the amount you’re looking to borrow. Once we receive your application, we’ll do our best to connect you with lenders who may be able to offer you a loan.

Conclusion

Although payday loans are illegal in West Virginia, there are still plenty of other options available for those who need quick cash. From personal loans to credit counseling, it’s important to explore all of your options before making a decision.

Remember, borrowing money comes with risks, so it’s important to carefully consider your options and understand the terms of any loan before signing on the dotted line. TheGuaranteedLoans can help connect you with potential lenders, but it’s ultimately up to you to make the best decision for your financial situation.

F.A.Q.

Can a payday loan company garnish my wages in Hico, West Virginia?

No, a payday loan company cannot garnish your wages in Hico, West Virginia because these loans are illegal in the state.

Can a payday loan company repossess my property in Hico, West Virginia?

No, a payday loan company cannot repossess your property in Hico, West Virginia because these loans are illegal in the state.

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