Payday Loans in Ragland, West Virginia

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

Company nameAddressZip codePhone number
United Bank 1200 Grosscup Ave, Dunbar, WV 25064 +1 (304) 766 - 7111
WesBanco Bank 745 Charles St, Wellsburg, WV 26070 +1 (304) 737 - 2925
United Capital Shepherdstown 8530 Shepherdstown Pike, Shepherdstown, WV 25443 +1 (304) 876 - 2619
1st National Community Bank 1200 N Chestnut St, New Cumberland, WV 26047 +1 (304) 564 - 4000
Huntington Bank 900 Lee St E, Charleston, WV 25301 +1 (304) 348 - 5001
Huntington Bank 420 Davis Ave, Elkins, WV 26241 +1 (304) 636 - 3400
KV Jewelry and Loan - Charleston 7108 MacCorkle Ave SE, Charleston, WV 25304 +1 (304) 925 - 9345
BB&T 457 Craigsville Rd, Craigsville, WV 26205 +1 (304) 742 - 5405
BB&T 7 Harman Center, Grafton, WV 26354 +1 (304) 265 - 3400
Enterprise Rent-A-Car 246 McEldowney Ave, New Martinsville, WV 26155 +1 (304) 455 - 4070

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Ragland, 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

Ragland, WV payday loan calculator

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

If you are in a financial bind, you might be considering a payday loan. These loans can provide a quick influx of cash, but they also come with high interest rates and fees. However, it’s important to note that payday lending is illegal in West Virginia. In this article, we’ll outline why payday loans are prohibited in the state and share some alternative options that you can explore if you need money quickly.

Why Are Payday Loans Illegal in West Virginia?

In 2001, the West Virginia Legislature passed a law that effectively banned payday lending in the state. This was in response to concerns about predatory lending practices, as payday loans typically carry high interest rates and fees that can trap borrowers in a cycle of debt. In West Virginia, the maximum amount that a lender can charge in interest and fees on a small loan is capped at 31% APR. However, payday lenders often charge much higher rates, which is why they are not allowed to operate in the state.

What Are the Alternatives to Payday Loans in West Virginia?

If you need money quickly, there are several alternatives to payday loans that you can explore:

  • Credit Cards: If you have a credit card, you can use it to cover your expenses. While credit cards also charge interest, the rates are typically lower than those of payday loans.
  • Personal Loans: A personal loan from a bank or credit union can also provide a low-cost alternative to payday loans. These loans typically have fixed interest rates and longer repayment terms.
  • Government Assistance: If you are struggling to meet your basic needs, you might be eligible for government assistance programs like SNAP (Supplemental Nutrition Assistance Program) or TANF (Temporary Assistance for Needy Families).
  • Credit Counseling: If you are having trouble managing your debt, credit counseling can provide you with a plan and resources for getting back on track.

Interesting Facts and Statistics

Did you know that:

  • In 2018, the average payday loan borrower in West Virginia took out 12 loans, with an average size of $374 per loan.
  • The average APR for payday loans in West Virginia is 130%
  • Payday lending costs West Virginia residents an estimated $90 million in fees and interest each year.

Source: The Pew Charitable Trusts

Apply Now

If you need money quickly and want to explore some alternative options to payday loans, TheGuaranteedLoans can help. We are a connector service that can help you connect with potential lenders who may be able to provide you with a personal loan or other financing options. While we are not a direct lender, we work with a network of reputable lenders who can help you get the funds you need.

To get started, simply complete our online application. We’ll ask you for some basic information, such as your name, address, and employment status. Once you submit your application, we’ll match you with potential lenders who we think would be a good fit for your needs. From there, you can review the loan offers and select the one that works best for you.

Note: Borrowing money is a serious decision that should not be taken lightly. Make sure you understand the terms of any loan you are considering, including the interest rate, fees, and repayment terms. If you have questions or concerns about borrowing money, speak with a financial advisor or credit counselor.

F.A.Q.

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

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

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