Payday Loans in Newell, West Virginia

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

Company nameAddressZip codePhone number
Raleigh County Federal Credit Union 200 Veterans Ave, Beckley, WV 25801 +1 (304) 253 - 6279
Walmart Money Center 25 Nichols Dr, Barboursville, WV 25504
Bank of Charles Town 1366 W Washington St, Harpers Ferry, WV 25425 +1 (304) 535 - 6336
Lorri Grisell - State Farm Insurance Agent 12 W Bethlehem Blvd, Wheeling, WV 26003 +1 (304) 905 - 6900
Twin Oaks Federal Credit Union 27405 Huntington Rd, Apple Grove, WV 25502 +1 (304) 576 - 4056
Natrium Employee FCU WV-2, Proctor, WV 26055 +1 (304) 455 - 6719
WesBanco Bank 613 Marshall St, McMechen, WV 26040 +1 (304) 232 - 5750
S.A.M. Check Cashing Machine 11762 National Rd, Valley Grove, WV 26060 +1 (304) 547 - 1001
Jefferson Security Bank 7994 Martinsburg Pike, Shepherdstown, WV 25443 +1 (304) 876 - 2800
Partners 1st Federal Credit Union 1122 US-220, Moorefield, WV 26836 +1 (304) 530 - 3827

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Newell, WV

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

26050

Are Payday Loans Legal In Newell, 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

Newell, WV payday loan calculator

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

If you’re in a tough financial situation and need quick cash, you may be considering a payday loan. However, if you live in Newell, West Virginia, it’s important to know that payday loans are prohibited in the state. In this article, we’ll explain why payday loans are prohibited in West Virginia and explore some alternative options you may want to consider.

What Are Payday Loans?

Payday loans are a type of short-term loan that typically must be repaid by the borrower’s next payday. These loans are typically targeted towards people who have less than perfect credit and need quick access to cash. Payday loans often come with high interest rates, fees, and penalties, making them a risky financial option for many consumers.

Why Are Payday Loans Prohibited in West Virginia?

In West Virginia, payday loans are prohibited under the West Virginia Code § 46A-4-107 and § 32A-4-3. These laws were put in place to protect West Virginia consumers from predatory lending practices that can trap borrowers in cycles of debt. Under these laws, lenders cannot charge more than 31% APR on a loan, making payday loans unfeasible for lenders in the state.

Alternative Options to Payday Loans

While payday loans are not an option in West Virginia, there are other financial products that you may want to consider if you’re in need of quick cash. Here are some of the most common ones:

  • Personal loans – You may be able to obtain a personal loan from a credit union, bank, or online lender. Personal loans typically have lower interest rates than payday loans and can be paid back over a longer period of time.
  • Credit cards – If you have a credit card, you may be able to use it to cover your emergency expenses. However, be aware that credit cards often come with high interest rates and fees.
  • Friends and family – If you’re in a pinch, you may want to consider borrowing money from friends or family members. However, it’s important to be aware that this can strain personal relationships.

Interesting Statistics about Payday Loans in Newell, West Virginia

– In 2018, there were over 200 payday loan locations in West Virginia, despite the state’s ban on payday lending.
– The average annual percentage rate (APR) for a payday loan in West Virginia is 391%.
– According to the National Consumer Law Center, payday loans cost American families over $4.1 billion in fees each year.

Apply Now with TheGuaranteedLoans

If you need financial assistance, TheGuaranteedLoans can connect you with a potential lender who offers loan products that may fit your needs. We offer a simple online application process that can be completed quickly and securely. However, it’s important to remember that we are a connector service, not a direct lender, and cannot guarantee loan approval or specific loan terms.

Conclusion:

Payday loans may seem like a quick and easy solution to financial woes, but they often come with high costs and risks. If you live in Newell, West Virginia, it’s important to know that payday loans are not legal in the state. Instead, explore other options like personal loans, credit cards, and borrowing from friends and family. If you do decide to seek financial help, TheGuaranteedLoans can help you connect with potential lenders.

F.A.Q.

Can I still be charged fees on a payday loan in Newell, West Virginia?

No, you cannot be charged fees on a payday loan in Newell, West Virginia because these loans are illegal in the state.

Can I be evicted from my home for taking out a payday loan in Newell, West Virginia?

No, you cannot be evicted from your home for taking out a payday loan in Newell, West Virginia because these loans are illegal in the state.

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