Payday Loans in Kanawha Falls, West Virginia

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

Company nameAddressZip codePhone number
BB&T 139 Hovatter Dr, Inwood, WV 25428 +1 (304) 229 - 2992
Huntington Bank 156 7th Ave, South Charleston, WV 25303 +1 (304) 348 - 7111
Astorg & Jones 501 Avery St 9th floor, Parkersburg, WV 26101 +1 (304) 422 - 6660
Pioneer Community Bank 681 Riverside Dr, Welch, WV 24801 +1 (304) 436 - 2171
Huntington Bank 130 Green Bag Road, Morgantown, WV 26505 +1 (304) 284 - 8595
Roy's Archery 121 Central Ave, Oak Hill, WV 25901 +1 (304) 469 - 2697
Jackson Hewitt Tax Service 206 W Washington St, Charles Town, WV 25414 +1 (304) 725 - 2090
Grant County Bank 991 William Ave, Davis, WV 26260 +1 (304) 259 - 5201
United Bank 7867 Martinsburg Pike, Shepherdstown, WV 25443 +1 (304) 876 - 6002
First Community Bank 24951 US-219, Lindside, WV 24951 +1 (304) 753 - 4311

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Kanawha Falls, 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, Online 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 Kanawha Falls, WV.

Beautiful sights of Kanawha Falls, WV

Are Payday Loans Legal In Kanawha Falls, 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

Kanawha Falls, WV payday loan calculator

Understanding Payday Loans in Kanawha Falls, West Virginia

Payday loans are short-term loans designed to provide temporary financial relief to borrowers who need money urgently. Unlike conventional loans which require credit checks and lengthy applications, payday loans are typically available to anyone with a verifiable source of income and a valid checking account. However, the State of West Virginia has prohibited payday lenders from offering these types of loans within the state, including in Kanawha Falls.

The Prohibition of Payday Loans in West Virginia

In 2001, West Virginia introduced the West Virginia Deferred Presentment and Small Loan Act, which aimed to regulate the payday loan industry in the state. However, in 2007, the state decided to completely prohibit payday lenders from offering payday loans to its residents. This was a result of the high interest rates and fees associated with payday loans, which became a financial burden to many borrowers. As a result, Kanawha Falls residents cannot access payday loans from either online or brick-and-mortar lenders located in West Virginia.

Possible Alternatives to Payday Loans in Kanawha Falls, West Virginia

Due to the prohibition of payday loans in West Virginia, residents of Kanawha Falls may have to explore other options to meet their financial needs. Some alternatives may include:

  • Personal Loans: Kanawha Falls residents may opt to apply for personal loans from credit unions, banks, or online lenders. Unlike payday loans, personal loans usually come with a fixed repayment plan with lower interest rates.
  • Credit cards: Credit cards may be used as an alternative to payday loans. However, it is important to use them responsibly and avoid carrying the balance for an extended period to avoid incurring high-interest rates.
  • Borrowing from friends and family: Kanawha Falls residents may also choose to borrow money from friends or family members if available. However, it is important to maintain good relationships and repay the loans promptly to avoid straining the relationship.

Applying for a Loan with The Guaranteed Loans

Although payday loans are not available in West Virginia, residents of Kanawha Falls may still consider other short-term loan options offered by lenders affiliated with The Guaranteed Loans. The Guaranteed Loans is a lending connector service that helps borrowers connect with potential lenders based on their financial needs. By completing the online application form provided, Kanawha Falls residents can connect with multiple lenders and choose the loan that best suits their needs.

It is important to note that The Guaranteed Loans is not a direct lender and does not provide loans. Instead, the company acts as a middleman that connects borrowers to lenders who may be willing to offer loans to Kanawha Falls residents.

Interesting Facts and Statistics about Payday Loans in the United States

  • According to a Pew Charitable Trusts report, 12 million Americans take out payday loans every year.
  • The average fee for a payday loan of $375 in the United States is $55, which equates to an annual percentage rate of 391 percent.
  • Payday loans are banned in 14 states in the United States, including West Virginia.
  • Average payday loan borrower takes out eight loans per year and is indebted for five months out of the year.
  • Payday loans are often marketed to low-income earners with little to no financial literacy.

Apply Now with The Guaranteed Loans

If you are a resident of Kanawha Falls, West Virginia, and you are in need of a short-term loan, consider applying online with The Guaranteed Loans. Our online loan application is easy to complete, and once submitted, you will be connected with multiple lenders who may be willing to offer you a loan. Remember, The Guaranteed Loans is not a lender, and therefore, we do not offer loans ourselves. Instead, we connect borrowers to lenders who may be able to offer the loans they need.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Kanawha Falls, West Virginia?

No, because payday loans are illegal in Kanawha Falls, West Virginia, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Kanawha Falls, West Virginia?

Yes, the state of West Virginia has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.

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