Payday Loans in Kerens, West Virginia

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

Company nameAddressZip codePhone number
Chessie Federal Credit Union 400 N Pike St, Grafton, WV 26354 +1 (304) 265 - 0766
MVB Bank Inc 113 Platinum Dr, Bridgeport, WV 26330 +1 (304) 848 - 5320
Premier Bank Inc. 124 Cedar St, Ronceverte, WV 24970 +1 (304) 647 - 4500
Harrison County Bank 17 Armory Rd, Clarksburg, WV 26301 +1 (304) 423 - 5100
Strip Steel Credit Union 3316 Main St, Weirton, WV 26062 +1 (304) 748 - 6622
Huntington Bank 324 Davis Ave, Elkins, WV 26241 +1 (304) 636 - 7736
Monro Auto Service And Tire Centers 200 Marshall St N, Benwood, WV 26031 +1 (304) 371 - 4557
SunTrust Bank 302 Great Teays Blvd, Scott Depot, WV 25560 +1 (304) 760 - 7460
Walmart Money Center 10 Walmart Dr, Moundsville, WV 26041
Jason Thomas - State Farm Insurance Agent 20 Lilac St, Craigsville, WV 26205 +1 (304) 742 - 5857

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Kerens, 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, Payday Loan for 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 Kerens, WV.

Are Payday Loans Legal In Kerens, 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

Kerens, WV payday loan calculator

Understanding Payday Loans in Kerens, West Virginia

Payday loans can be handy financial tools for those who need quick access to cash. These loans are typically small, short-term loans that are intended to be paid back with the borrower’s next paycheck. However, it is important to note that payday loans are prohibited in the state of West Virginia. Let’s take a closer look at payday loans in Kerens and what alternatives are available for those in need of financial assistance.

What are Payday Loans?

Payday loans are short-term loans that are typically due on the borrower’s next payday. These loans can be obtained quickly and easily, often without a credit check. Borrowers are required to provide proof of income, such as a paycheck stub, and a post-dated check for the loan amount plus interest and fees. If the borrower is unable to repay the loan on the due date, the lender may cash the borrower’s check or initiate a withdrawal from their bank account.

Prohibition of Payday Loans in West Virginia

Payday loans are prohibited in the state of West Virginia. The West Virginia Consumer Credit and Protection Act specifically prohibits payday loans, stating that “No person shall make a loan of $2,000 or less if the loan has unearned interest or is payable in more than four installments.”

Alternatives to Payday Loans

For those in need of quick cash, there are a few alternatives to payday loans that are legal in West Virginia:

  • Personal Loans: Personal loans are a type of installment loan that can be used for a variety of purposes. Personal loans typically have lower interest rates than payday loans, and they are paid back in fixed installments over a longer period of time.
  • Credit Union Loans: Credit unions often offer small loans to their members with lower interest rates and fees than traditional lenders.
  • Credit Cards: In some cases, a credit card may be a better option than a payday loan. Many credit cards offer cash advances, which can be used to access quick cash. However, it is important to remember that cash advances often come with high interest rates and fees.

Interesting Facts and Statistics

While payday loans are prohibited in West Virginia, it’s still interesting to see how they compare to other states. Here are a few statistics:

  • Nationally: The average payday loan borrower takes out eight loans per year, with an average loan amount of $375. The average interest rate for payday loans is 391%.
  • West Virginia: Prior to the prohibition of payday loans, West Virginia had one of the highest payday loan usage rates in the country. In 2008, the average payday loan in West Virginia had an interest rate of 417%.

Apply Now

If you are in need of financial assistance, TheGuaranteedLoans can help connect you with potential lenders. Please note that we are a connector service and not a direct lender. We work with a network of reputable lenders to help you find the best loan for your needs. To apply now, visit our website and fill out our online application.

Remember to always read the terms and conditions of any loan before agreeing to it. While payday loans may seem like a quick and easy solution, they often come with high interest rates and fees that can trap borrowers in a cycle of debt. Instead, consider alternative options and choose a loan that fits your needs and budget.

F.A.Q.

Where can I get more information about payday loans in Kerens, West Virginia?

More information about payday loans in Kerens, West Virginia can be found on the West Virginia State Department of Financial Services website. You can also contact the department directly with any questions or concerns.

Are payday loans available in Kerens, West Virginia?

No, payday loans are prohibited in Kerens, West Virginia.

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