Payday Loans in Ona, West Virginia

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

Company nameAddressZip codePhone number
Chase Bank 608 Hendricks St, Wayne, WV 25570 +1 (304) 272 - 3121
Galloway Peggy CPA 503 Galloway Rd, Bruceton Mills, WV 26525 +1 (304) 379 - 7500
Chase Bank 200 Kanawha Mall, Charleston, WV 25304 +1 (304) 925 - 1925
Walmart Money Center 79 Norman Morgan Blvd, Logan, WV 25601
BB&T Mortgage 1 Wall St, Ravenswood, WV 26164
Williamstown Bank 3002 7th St, Parkersburg, WV 26101 +1 (304) 485 - 1717
Pioneer Community Bank 14229 Rocket Boys Dr, War, WV 24892 +1 (304) 875 - 2251
Huntington Bank 5961 Mason-Dixon Hwy, Blacksville, WV 26521 +1 (304) 432 - 8276
Bank of Monroe 39 Main St, Union, WV 24983 +1 (304) 772 - 3034
City National Bank 413 5th St, New Haven, WV 25265 +1 (304) 882 - 2135

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ona, WV, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Charleston, WV, Bad Credit Loans in Huntington, WV, Payday Loan Without a Credit Check in Morgantown, WV and Payday Loan for 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 Ona, WV.

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

25545

Are Payday Loans Legal In Ona, 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

Ona, WV payday loan calculator

The Ins and Outs of Payday Loans in Ona, West Virginia

Payday loans are a type of short-term loan that is designed to help you bridge the gap until your next paycheck. Unfortunately, these loans have a reputation for being exploitative, with high interest rates and fees that can trap you in a cycle of debt. In West Virginia, payday loans are actually illegal. However, that doesn’t mean that individuals in Ona, West Virginia aren’t at risk of becoming victims of payday loan scams. Here’s what you need to know about payday loans in Ona, West Virginia and what steps you can take to protect yourself.

The Legality of Payday Loans in Ona, West Virginia

In 2007, the state of West Virginia passed a law that prohibits payday loans. This law defines payday loans as “small, short-term loans that are typically due on the borrower’s next payday.” The law caps interest rates on loans at 31%, which is significantly lower than the rates that payday lenders typically charge. Additionally, the law prohibits lenders from rolling over loans, which means that you cannot take out a new loan to pay off an existing loan.

Unfortunately, despite these protections, payday lenders have found ways to skirt around the law and continue to prey on vulnerable individuals in Ona, West Virginia. For example, some lenders claim to be operating under tribal law and therefore exempt from state regulations. Others offer installment loans, which are similar to payday loans but have longer repayment periods and lower interest rates. However, these loans are often just as predatory as traditional payday loans.

How to Protect Yourself From Payday Loan Scams

If you are in need of money and are considering taking out a payday loan, it is important to be aware of the risks associated with these loans. Here are some tips to help you protect yourself from payday loan scams:

  • Know the law: As we mentioned earlier, payday loans are illegal in West Virginia. If a lender is offering you a payday loan, they are breaking the law and should not be trusted.
  • Shop around: If you are considering a installment loan, be sure to compare offers from multiple lenders. Look for lenders that offer lower interest rates and longer repayment periods.
  • Read the fine print: Before you sign any loan agreement, be sure to read the fine print. Look for hidden fees and make sure you understand the terms of the loan.
  • Avoid rollovers: Rollovers can lead to a cycle of debt that is difficult to break. If you cannot pay off your loan on time, seek out other options like a personal loan or a credit card.
  • Work with a reputable lender: If you do decide to take out a loan, be sure to work with a reputable lender. Check their reputation online and make sure they are licensed to operate in West Virginia.

Interesting Facts and Statistics About Payday Loans

  • Payday lending is a $9 billion industry in the United States.
  • 12 million Americans take out payday loans every year.
  • The average payday loan borrower takes out eight loans per year and spends $520 on interest.
  • In states where payday lending is legal, the average interest rate is 391%.
  • Payday lending disproportionately affects communities of color and low-income individuals.

Apply Now

At TheGuaranteedLoans, we are committed to helping individuals in Ona, West Virginia and across the country find the financing they need. While we do not offer payday loans ourselves, we do work with a network of lenders who can provide you with the funds you need to cover unexpected expenses. Our online application process is fast and easy, and we can connect you with lenders who specialize in installment loans and other forms of short-term financing. Apply today and see how we can help you get the money you need with terms you can afford.

F.A.Q.

Can I take out a payday loan online in Ona, West Virginia?

No, even if the lender is located outside of West Virginia, it is illegal to take out a payday loan online in this state.

Can I take out a payday loan from a lender in another state and use it in Ona, West Virginia?

No, it is illegal to use a payday loan from another state in Ona, West Virginia.

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