Payday Loans in Le Roy, West Virginia

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

Company nameAddressZip codePhone number
Clear Mountain Bank 1085 Van Voorhis Rd Suite 150, Morgantown, WV 26505 +1 (304) 777 - 4000
Alisa Hunter PrimeLending NMLS:438602 6007 US Route 60 East, Ste. 117, Barboursville, WV 25504 +1 (304) 948 - 4189
Fayette County National Bank 137 E Main St, Ansted, WV 25812 +1 (304) 658 - 3262
First Community Bank - Cowen 6299 Webster Rd, Cowen, WV 26206 +1 (304) 226 - 5924
First Federal 354 Suncrest Towne Centre Drive, Morgantown, WV 26505 +1 (304) 598 - 0060
Summit Community Bank 90 S Grove St, Petersburg, WV 26847 +1 (304) 257 - 1244
Crescent Pawn Shop 831 Main St E, Oak Hill, WV 25901 +1 (304) 465 - 8880
United Bank 101 Venture Dr, Morgantown, WV 26508 +1 (304) 284 - 8630
TIAA Financial Services 618 10th St Suite 106, Huntington, WV 25701 +1 (855) 842 - 2088
The First National Bank of Peterstown 380 Market St, Peterstown, WV 24963 +1 (304) 753 - 4321

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Le Roy, 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

Le Roy, WV payday loan calculator

Payday Loans in Le Roy, West Virginia: What You Need to Know

Payday loans, also known as cash advances or deferred deposits, are short-term loans that are typically due on your next payday. These loans are often marketed as a quick solution to financial emergencies, but they come with high interest rates, fees, and the potential for a debt cycle that can be difficult to break.

In West Virginia, payday loans are prohibited by law. However, some lenders may still offer other high-cost loans, such as car title loans or installment loans, that can trap borrowers in a cycle of debt.

Why Are Payday Loans Prohibited in West Virginia?

In 2007, West Virginia became the 15th state to outlaw payday lending. The West Virginia Code, section 46A-4-107, states that “no check casher may directly or indirectly charge any fees or other charges for cashing a check.” This means that payday lenders are not permitted to operate in the state.

The decision to outlaw payday lending was based on concerns about the high cost of these loans and the potential for borrowers to become trapped in a cycle of debt. Payday loans often come with triple-digit interest rates and short repayment periods, which can make it difficult for borrowers to pay back the loan on time. If they can’t, they may be forced to roll over the loan, taking on additional fees and interest.

Alternatives to Payday Loans in Le Roy, West Virginia

If you’re in need of cash and payday loans are not an option in West Virginia, there are alternative ways to get the money you need:

  • Installment loans: These loans allow you to borrow a larger amount of money and pay it back over several months or years.
  • Personal loans: Many banks and credit unions offer personal loans with more favorable terms than payday loans.
  • Credit cards: If you have a credit card, you can use it to make purchases or get a cash advance. Just be sure to pay it back on time to avoid high-interest fees.
  • Emergency assistance: Depending on your situation, you may qualify for emergency assistance from government programs or non-profit organizations.

Interesting Facts About Payday Loans

While payday loans may be illegal in West Virginia, they are still a major industry in other parts of the country. Here are some facts and statistics about payday loans:

  • According to the Pew Charitable Trusts, 12 million Americans take out payday loans each year.
  • The average payday loan borrower takes out eight loans per year, spending $520 on interest and fees alone.
  • In some states, payday lenders charge interest rates of up to 400%

Apply Now for a Loan Connect Service

If you’re struggling financially and need help finding a loan, TheGuaranteedLoans can help. We connect borrowers with a network of lenders who may be able to provide the funds you need. Fill out an online application today and get started on the road to financial freedom.

Please note that TheGuaranteedLoans is not a direct lender and does not provide loans. We are a loan connect service that facilitates the connection between borrowers and potential lenders. Any loan agreements and terms will be between you and the lender, and we encourage you to read and understand the terms of your loan agreement before accepting any offer.

F.A.Q.

Are payday loans legal in Le Roy, West Virginia?

No, payday loans are prohibited in Le Roy, West Virginia.

What are the alternatives to payday loans in Le Roy, West Virginia?

Some options for short-term financial assistance in Le Roy, West Virginia include credit union loans, personal loans from banks or online lenders, or borrowing from friends or family.

Look for Short-Term Loans in Other Cities: