Payday Loans in Mabie, West Virginia

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

Company nameAddressZip codePhone number
City National Bank 300 8th St, Marlinton, WV 24954 +1 (304) 799 - 4640
Scott and Nypl, CPAs, A.C. 1303 Harrison Ave, Elkins, WV 26241 +1 (304) 636 - 7420
Michael Wisnieski, Mortgage Lending Officer 3265 Main St, Weirton, WV 26062 +1 (724) 579 - 4512
BB&T HC 82 BOX 39A, Lewisburg, WV 24901 +1 (304) 647 - 5187
First Citizens Bank 8468 Seneca Trail, Ronceverte, WV 24970 +1 (304) 645 - 0258
WesBanco Bank 613 Marshall St, McMechen, WV 26040 +1 (304) 232 - 5750
BB&T 1124 Fledderjohn Rd, Charleston, WV 25314 +1 (304) 345 - 3600
United States Postal Service 3400 University Ave, Morgantown, WV 26505 +1 (800) 275 - 8777
United States Postal Service 2000 US-60, Culloden, WV 25510 +1 (800) 275 - 8777
CNB Bank, Inc. 101 S Washington St, Berkeley Springs, WV 25411 +1 (304) 258 - 1520

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Mabie, 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

Mabie, WV payday loan calculator

Understanding Payday Loans in Mabie, West Virginia

Life is unpredictable, and sometimes you may need a quick fix to cover unexpected expenses. But what do you do if you need cash before payday? In most states, a payday loan may be a viable option. However, in Mabie, West Virginia, payday loans are prohibited by state law.

What Are Payday Loans?

A payday loan is a short-term loan that must be paid back in full by your next payday. These loans are typically small amounts, usually no more than a few hundred dollars, and have high-interest rates.

The main appeal of payday loans is that they’re quick and easy to obtain. The application process is usually straightforward and doesn’t take much time. If your application is approved, you may be able to receive your funds within a few hours.

The Prohibition of Payday Loans in West Virginia

While payday loans are legal in many states, West Virginia has taken a different approach. In 2006, the West Virginia Legislature passed a law that prohibited payday lending in the state. The state’s government viewed payday loans as predatory lending practices that targeted low-income consumers.

While the law did not eradicate all predatory lending practices in West Virginia, it did bring an end to payday lending in the state. This means that if you live in Mabie, West Virginia, you cannot apply for a payday loan from a licensed lender in the area.

Interesting Facts and Statistics

While payday loans are not available in Mabie, West Virginia, it’s important to understand the impact that they can have. Here are some interesting facts and statistics to keep in mind:

  • The average payday loan borrower takes out eight loans per year, spending around $520 on interest charges alone.
  • Payday loans are banned in 18 states, including West Virginia.
  • The Federal Deposit Insurance Corporation (FDIC) estimates that 25% of U.S. households are either unbanked or underbanked, meaning they do not have access to traditional financial products and services.

Alternatives to Payday Loans

While payday loans may seem like an attractive option when you need cash fast, they can come at a high cost. If you live in Mabie, West Virginia, and need a loan, there are alternatives you can explore.

  • Personal Loans: A personal loan is a loan that you can take out for any reason. These types of loans are typically unsecured, meaning you do not have to put up collateral, and have lower interest rates than payday loans.
  • Credit Cards: If you have a credit card, you may be able to use it to cover any unexpected expenses. While you may still have to pay interest, it will likely be at a lower rate than a payday loan.
  • Friends or Family: If you’re in a bind, you may be able to turn to friends or family for help. While this can be an uncomfortable conversation to have, it may be a better option than taking out a high-interest loan.

Apply Now

If you’re interested in exploring your loan options, we invite you to fill out an online application on TheGuaranteedLoans. We are a connector service, not a direct lender. Our goal is to connect you with potential lenders that may be able to offer a loan that fits your needs.

Keep in mind that there is no guarantee that you will be approved for a loan. The decision to approve your loan application is up to the lender that you are connected with. Additionally, you will be required to repay any loan funds you receive with interest and fees.

The Bottom Line

While payday loans may be an attractive option if you need cash fast, if you live in Mabie, West Virginia, they are not an option. It’s important to consider all of your options before taking out any loan, regardless of your location. When in doubt, seek advice from a financial professional.

F.A.Q.

Can I be arrested for not paying back an illegal payday loan in Mabie, West Virginia?

No, you cannot be arrested for not paying back an illegal payday loan in Mabie, West Virginia.

Can I be harassed or threatened by a lender for not paying back an illegal payday loan in Mabie, West Virginia?

No, you cannot be harassed or threatened by a lender for not paying back an illegal payday loan in Mabie, West Virginia. If you have been harassed or threatened, you can report the lender to the West Virginia State Department of Financial Services.

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