Payday Loans in New Richmond, West Virginia

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

Company nameAddressZip codePhone number
Clear Mountain Bank 41 S Buffalo St, Rowlesburg, WV 26425 +1 (304) 454 - 2431
First Federal Savings & Loan 712 Washington St, Ravenswood, WV 26164 +1 (304) 273 - 4212
First Mutual Bank Parkersburg Branch 3850 Emerson Ave, Parkersburg, WV 26104 +1 (304) 422 - 1212
Farmers Bank 424 2nd St, Mason, WV 25260 +1 (304) 773 - 6400
Integrity Home Mortgage Corporation 261 Aikens Center 304, Martinsburg, WV 25404 +1 (304) 596 - 2432
Camden Clark Memorial Hospital Federal Credit Union 801 Ann St, Parkersburg, WV 26101 +1 (304) 424 - 2255
Walmart Money Center 79 Norman Morgan Blvd, Logan, WV 25601
United Bank 2004 W Webster Rd, Summersville, WV 26651 +1 (304) 872 - 5434
BB&T 1124 Fledderjohn Rd, Charleston, WV 25314 +1 (304) 345 - 3600
loanDepot 3772 Teays Valley Road 3, Hurricane, WV 25526 +1 (304) 200 - 7010

Payday Loan Companies in Nearby Cities

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

Payday Loans Available in New Richmond, WV By The Following ZIP Codes:

24867

Are Payday Loans Legal In New Richmond, 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

New Richmond, WV payday loan calculator

Payday loans have been on the rise in recent years, but it’s important to know that these types of loans are prohibited in West Virginia, including in New Richmond. If you’re looking for a quick and easy way to get some cash in an emergency, a payday loan might seem like your best option. However, these types of loans can quickly lead to a cycle of debt if not used responsibly. In this article, we’ll break down the payday loan laws in West Virginia and explore some alternative options that may be available to you.

What are Payday Loans?

A payday loan is a type of short-term, high-interest loan that is typically due on your next payday. These loans are typically used by individuals who need quick cash for unexpected expenses or to cover bills before their next paycheck comes in. But, payday loans often come with high fees and interest rates, making it challenging for many borrowers to repay them without falling into a cycle of debt.

Payday Loan Laws in West Virginia

West Virginia is one of 15 states that have banned payday loans. Under West Virginia law, payday loans are prohibited and lenders who attempt to offer these types of loans can be subject to penalties and fines. If you’re in New Richmond and looking to take out a payday loan, it’s important to know that this is not a legal option, and you should explore other alternatives for getting the cash you need.

Alternative Options

If you need quick cash but payday loans are not an option in West Virginia, there are some other alternatives you may want to consider.

Installment Loans

Installment loans are another type of loan that may be available to you if you need cash. These loans allow you to borrow a lump sum of money that you can repay over a set period of time, typically with fixed monthly payments.

Unlike payday loans, installment loans have lower interest rates and longer repayment terms, making them a more affordable option for many borrowers. Additionally, installment loans are often available to borrowers with less than perfect credit, as lenders may be willing to work with individuals who have a lower credit score.

Credit Union Loans

If you’re a member of a credit union, you may be able to take out a short-term loan to cover your expenses. These loans typically have lower interest rates than payday loans and may be available even if you have poor credit.

If you’re not currently a member of a credit union, it may be worth looking into joining one. Credit unions often offer lower interest rates on loans, higher interest rates on saving accounts, and other benefits to their members.

Personal Loans

If you have a good credit score, you may be able to take out a personal loan from a bank or online lender. Personal loans typically have lower interest rates than payday loans and allow you to borrow a larger amount of money.

While the application process for a personal loan may be more time-consuming than a payday loan, it’s an option worth exploring if you need cash and want to avoid falling into a cycle of debt.

Interesting Facts and Statistics

  • In 2018, West Virginia passed HB 3472, which prohibits payday lending in the state.
  • The average payday borrower in the United States takes out eight loans per year, with an average loan amount of $375.
  • In 2019, the average interest rate for a payday loan in the US was 400% APR.
  • Payday loans are banned in 15 states, including West Virginia, and the District of Columbia.

Apply Now

If you’re looking for fast cash in West Virginia, you may want to consider alternative options like installment loans, credit union loans, or personal loans. TheGuaranteedLoans can help connect you with potential lenders, but it’s important to remember that we are a connector service, not a direct lender. Fill out our online application today to explore your options and get the cash you need.

At TheGuaranteedLoans, we work hard to provide our readers with valuable information about loans in West Virginia and across the country. While payday loans are not an option in West Virginia, there are other alternatives available that can help you get the cash you need without falling into a cycle of debt.

F.A.Q.

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

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

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

Yes, there are federal laws that apply to payday loans in New Richmond, 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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