Payday Loans in Shenandoah Junction, West Virginia

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

Company nameAddressZip codePhone number
Pam Bayer, Mortgage Lending Officer 410 Grand Central Ave, Vienna, WV 26105 +1 (304) 488 - 7306
Josh Schmalz 260 Gihon Village, Parkersburg, WV 26101 +1 (304) 905 - 7027
First Century Bank Na 500 Federal St, Bluefield, WV 24701 +1 (304) 325 - 8181
One Community Federal Credit Union 531 Fifth St, Parkersburg, WV 26101 +1 (304) 485 - 4066
Summit Community Bank 910 Clay St, Rupert, WV 25984 +1 (304) 392 - 6314
Timothy E Ball, PLLC, CPA, Registered Investment Advisor 334 S Main St, Moorefield, WV 26836 +1 (304) 530 - 7627
Charleston Postal FCU 1000 Centre Way, Charleston, WV 25309 +1 (304) 746 - 5111
Grant County Bank 991 William Ave, Davis, WV 26260 +1 (304) 259 - 5201
Progressive Bank 425 3rd St, New Martinsville, WV 26155 +1 (304) 455 - 5400
Amy Schumacher, Movement Mortgage 41 E Main St Unit 1, Buckhannon, WV 26201 +1 (304) 519 - 4329

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Shenandoah Junction, WV, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Charleston, WV, Payday Loan Companies in Huntington, WV, Payday Loan Companies in Morgantown, WV and Short-term 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 Shenandoah Junction, WV.

Beautiful sights of Shenandoah Junction, WV

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

25442

Are Payday Loans Legal In Shenandoah Junction, 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

Shenandoah Junction, WV payday loan calculator

Understanding Payday Loans in Shenandoah Junction, West Virginia

Payday loans are short-term loans that typically come with high-interest rates and fees. These loans are often marketed towards borrowers who need quick cash and have poor credit scores. However, it’s essential to understand that payday loans are not legal in West Virginia, including Shenandoah Junction.

While there are no payday lenders located in Shenandoah Junction, some lenders operate online and claim to offer payday loans to West Virginia residents. It’s crucial to be aware that borrowing money from these lenders can lead to significant financial difficulties.

Why are Payday Loans Prohibited in West Virginia?

  • Payday loans are too expensive: In West Virginia, payday lenders can charge up to 31% interest for a two-week $100 payday loan. This high interest rate makes it challenging for borrowers to repay the loan on time, leading to a cycle of debt and financial distress.
  • Payday loans target vulnerable borrowers: Most payday lenders do not require borrowers to have good credit scores and often target those who are struggling financially.
  • Payday loans can trap borrowers in a cycle of debt: Due to the high-interest rates and short repayment terms, borrowers who take out payday loans are often unable to repay them on time. This can lead to additional fees and interest, and borrowers can end up taking out more loans to pay off the original debt, leading to a cycle of debt and financial distress.
  • Payday loans can lead to bankruptcy: According to a study by the Pew Charitable Trusts, borrowers who take out payday loans are more likely to file for bankruptcy.

Interesting Facts about Payday Loans in Shenandoah Junction, West Virginia

  • West Virginia is one of 13 states in the United States that prohibit payday lending.
  • A 2013 study by the Center for Responsible Lending found that payday lenders drained $14 billion in fees from low-income consumers nationwide in 2012.
  • The average payday loan borrower takes out eight loans per year, spending approximately $520 on interest and fees.

The Benefits of Alternative Lending Options

While payday loans are not legal in West Virginia, borrowers can still find alternative lending options that are more affordable and less risky. These options include:

  • Personal loans: Personal loans are installment loans that come with lower interest rates than payday loans. Borrowers can typically repay the loan over several months or years.
  • Credit union loans: Credit unions offer loans to their members with lower interest rates and fees than traditional banks and other lenders.
  • Credit counseling: Credit counseling agencies can help borrowers manage their debt and create a repayment plan that works for their budget.

Apply Now

If you need cash and live in Shenandoah Junction, West Virginia, TheGuaranteedLoans can connect you with potential lenders. We offer a simple online application process, and our service is free. Please note that we are not a direct lender and cannot guarantee loan approval, but we will do our best to help you find the right lender for your needs.

Apply now for free and get connected with lenders who can help you find the cash you need.

F.A.Q.

Why are payday loans illegal in Shenandoah Junction, West Virginia?

Payday loans are illegal in Shenandoah Junction, West Virginia because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Shenandoah Junction, West Virginia?

in Shenandoah Junction, West Virginia, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.

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