Payday Loans in Lizemores, West Virginia

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

Company nameAddressZip codePhone number
First Exchange Bank 309 Main St, Fairview, WV 26570 +1 (304) 449 - 1700
Citizens Bank of West Virginia 211 3rd St, Elkins, WV 26241 +1 (304) 636 - 4095
MVB Bank Inc 113 Platinum Dr, Bridgeport, WV 26330 +1 (304) 848 - 5320
Romney Federal Credit Union 62 W Main St, Romney, WV 26757 +1 (304) 822 - 3116
Huntington Mortgage Group 103 Adams St, Fairmont, WV 26554
First Citizens Bank 2807 Jefferson St N, Lewisburg, WV 24901 +1 (304) 645 - 3717
Woodforest National Bank 167 Progress Way, Hurricane, WV 25526 +1 (304) 562 - 3018
Moorefield Collision Center 115 Natwick Cir 1244, Moorefield, WV 26836 +1 (304) 530 - 2101
United States Postal Service 202 Clayton St, Pennsboro, WV 26415 +1 (800) 275 - 8777
Tri State Gun & Pawn 545 Riverview Ave, Logan, WV 25601 +1 (304) 752 - 6561

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lizemores, WV, you can try to find different companies in big cities near by. Check out the following pages here: Same Day 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 Lizemores, WV.

Are Payday Loans Legal In Lizemores, 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

Lizemores, WV payday loan calculator

Understanding Payday Loans in Lizemores, West Virginia

Payday loans have been a source of controversy in many parts of the United States. These short-term loans, often structured as a quick fix for unexpected expenses, can quickly become a burden for borrowers. And if you live in Lizemores, West Virginia, you won’t find any payday loan stores in your area. That’s because West Virginia has taken a firm stance against payday lending.

Why are Payday Loans Prohibited in West Virginia?

West Virginia lawmakers took action to protect consumers from predatory lending practices by passing laws that place strict limits on payday loans. The state considers payday loans as small loans, and to protect its citizens, has capped the annual percentage rate (APR) that lenders can charge at 31%. This rate is too low for payday lenders to operate in West Virginia, so they are not legally allowed to do business in the state.

In essence, these laws are in place to protect consumers from lenders who might otherwise charge astronomical interest rates that borrowers may find difficult to repay. While these laws ensure that payday lenders cannot operate in Lizemores, West Virginia, residents in need of urgent cash can explore other options like personal loans, credit cards, or installment loans.

Personal Loans

Personal loans are a good alternative to payday loans. But unlike payday loans, personal loans are usually paid back in installments over a longer period. With personal loans, you won’t have to worry about the risk posed by short repayment periods, high fees, and rollovers that can push you into a debt spiral. You can also borrow more significant amounts, which sometimes come with lower interest rates than credit cards.

Credit Cards

Credit cards may be another option for residents of Lizemores, West Virginia. While credit cards may also have high-interest rates, you are not required to pay back the loan immediately, and you can typically make minimum payments while paying off the balance. However, it’s important to note that credit cards come with their own fees, such as cash advance fees and balance transfer fees that you should pay attention to.

Installment Loans

Installment loans are another option to consider. They are typically structured in more extended repayment periods than payday loans, giving you between six to twenty-four months to repay the loan. These longer repayment terms can help to make monthly payments more manageable. However, installment loans usually require a credit check, which can be a hurdle if you have a poor credit score.

Interesting Facts and Statistics about Payday Loans in Lizemores, West Virginia

  • Payday loans have APRs of up to 400% in some states, according to the Consumer Financial Protection Bureau (CFPB).
  • West Virginia introduced its first set of payday loan regulations after banning high-interest title loans in 2001.
  • In 2019, the Kentucky Derby’s Triple Crown winner, Justify, was sold for $60 million. A payday loan company in Seattle previously owned the horse.
  • A Consumer Reports survey found that 48% of Americans who took out payday loans had to pawn personal items to pay off the loan.
  • An estimated 12 million Americans use payday loans each year.

Apply Now

With TheGuaranteedLoans, you can review lenders, compare rates and fees, and choose a lender that best meets your needs – all from the comfort of your home. Fill out our online application today, and we will connect you with lenders who will give you a quick decision on your loan application. Remember, TheGuaranteedLoans is not a direct lender, but we can connect you to potential lenders who can meet your needs.

If you’re in Lizemores, West Virginia, and need urgent cash, you can explore other options like personal loans, credit cards, or installment loans, depending on your financial situation. And with TheGuaranteedLoans, you can find the right lender for your needs with ease.

F.A.Q.

Can a payday loan company file a lawsuit against me in Lizemores, West Virginia?

No, a payday loan company cannot file a lawsuit against you in Lizemores, West Virginia because these loans are illegal in the state.

Are there any federal laws that apply to payday loans in Lizemores, West Virginia?

Yes, there are federal laws that apply to payday loans in Lizemores, West Virginia, including the Military Lending Act and the Truth in Lending Act. These laws provide protections for consumers and regulate the practices of payday lenders.

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