Payday Loans in Sandstone, West Virginia

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

Company nameAddressZip codePhone number
Hancock County Savings Bank 351 Carolina Ave, Chester, WV 26034 +1 (304) 387 - 1620
Whetelco Federal Credit Union 54 14th St, Wheeling, WV 26003 +1 (304) 232 - 8123
United States Postal Service 1194 Main St, Idamay, WV 26576 +1 (800) 275 - 8777
Huntington Bank 25 Scarlet Oak Ln, Bridgeport, WV 26330 +1 (304) 842 - 1630
Kroger Money Services 2007 7th St, Parkersburg, WV 26101 +1 (304) 424 - 6369
BB&T 1309 Stafford Dr, Princeton, WV 24740 +1 (304) 487 - 5900
First United Bank & Trust 320 S View Dr Suite 104, Bridgeport, WV 26330 +1 (304) 848 - 4350
United States Postal Service 3400 University Ave, Morgantown, WV 26505 +1 (800) 275 - 8777
Community Bank of Parkersburg 2400 Grand Central Ave, Vienna, WV 26105 +1 (304) 295 - 4566
Romney Federal Credit Union 62 W Main St, Romney, WV 26757 +1 (304) 822 - 3116

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Sandstone, WV, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Charleston, WV, 24-Hour Loan in Huntington, WV, Quick Loan 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 Sandstone, WV.

Beautiful sights of Sandstone, WV

Are Payday Loans Legal In Sandstone, 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

Sandstone, WV payday loan calculator

Welcome to our article on the topic of Payday loans in Sandstone, West Virginia. In this article, we will explore the legality of payday loans in West Virginia and discuss other lending options available to residents of Sandstone.

Why are Payday Loans Prohibited in West Virginia?

Payday loans are short-term loans that are typically due on the borrower’s next payday. They are often marketed as a quick solution to financial emergencies, but they can come with extremely high interest rates and fees that can trap borrowers in a cycle of debt.

In West Virginia, payday lending is prohibited by law. The West Virginia Consumer Credit and Protection Act sets a maximum interest rate of 31% on all consumer loans, including payday loans. This means that payday lenders cannot legally operate in the state.

The law protects borrowers from the predatory practices of payday lenders, but it also means that residents of Sandstone and other areas of West Virginia do not have access to this type of credit.

What Are My Other Options?

If you need access to credit in Sandstone, there are several other options that you can consider:

  • Personal Loans: Personal loans are a type of unsecured loan that can be used for any purpose. They typically have lower interest rates than payday loans and longer repayment terms. You can apply for a personal loan through a bank, credit union, or online lender.
  • Credit Cards: Credit cards can be a good alternative to payday loans if you need to make a large purchase or pay for unexpected expenses. Many credit cards offer 0% introductory APRs, which can provide interest-free financing for a period of time.
  • Short-Term Loans: While payday lending is prohibited in West Virginia, there are other types of short-term loans that may be available to you. Online lenders may offer loans with repayment terms of a few months to a year. However, these loans can also come with high interest rates and fees, so be sure to read the terms carefully before applying.

Interesting Facts and Statistics about Payday Loans in Sandstone, West Virginia

Despite being illegal in the state, some payday lenders still attempt to operate in West Virginia. In 2017, the West Virginia Attorney General’s Office received 213 complaints about payday lending, and they continue to monitor the situation closely.

According to a 2014 report by the Center for Responsible Lending, the average payday loan borrower in West Virginia takes out 12 loans per year and spends $574 in fees. This suggests that even though payday lending is prohibited, some residents of Sandstone and other areas of West Virginia may be turning to out-of-state lenders or online lenders to access this type of credit.

Apply Now

At TheGuaranteedLoans, we understand that unexpected expenses can arise at any time. That’s why we offer a connection service to help you find lenders who may be able to provide the financing you need.

Our online application process is quick and easy. Simply fill out our application form, and we’ll match you with potential lenders who may be able to provide a loan. While we are not a direct lender, we will facilitate your connection with lenders who can provide the funding you need.

Remember, payday loans are illegal in West Virginia, but there are other lending options available. If you need access to credit, consider a personal loan, credit card, or short-term loan. And if you’re ready to get started, click the “Apply Now” button to begin your application.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Sandstone, West Virginia?

No, because payday loans are illegal in Sandstone, West Virginia, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Sandstone, West Virginia?

Yes, the state of West Virginia has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.

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