Payday Loans in Shoals, West Virginia

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

Company nameAddressZip codePhone number
BB&T 1309 Stafford Dr, Princeton, WV 24740 +1 (304) 487 - 5900
Logan Bank and Trust 200 Huff Creek Pkwy, Man, WV 25635 +1 (304) 583 - 8880
Star USA Federal Credit Union 3955 Teays Valley Road, Hurricane, WV 25526 +1 (304) 757 - 3231
Dustin Miller, PrimeLending NMLS: 988276 3556 Teays Valley Road 2, Hurricane, WV 25526 +1 (304) 638 - 7423
CNB Bank Inc 1610 Valley Rd, Berkeley Springs, WV 25411 +1 (304) 258 - 9650
City National Bank 1700 W King St, Martinsburg, WV 25401 +1 (304) 264 - 4500
Chase Bank 210 Great Teays Blvd, Scott Depot, WV 25560 +1 (304) 760 - 1101
First Community Bank 24951 US-219, Lindside, WV 24951 +1 (304) 753 - 4311
Modern Woodmen of America 1701 5th Ave 2, Charleston, WV 25387 +1 (304) 414 - 4480
BB&T 610 Viand St, Point Pleasant, WV 25550 +1 (304) 675 - 2500

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Shoals, WV, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Charleston, WV, Payday Loan for Huntington, WV, Payday Loans in Morgantown, WV and Emergency Loan 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 Shoals, WV.

Are Payday Loans Legal In Shoals, 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

Shoals, WV payday loan calculator

Payday loans have long been a source of controversy and debate, especially in states where they are heavily regulated or outright prohibited. One such state is West Virginia, where payday loans are illegal under state law.

What are payday loans?

Payday loans are short-term loans that are typically due on the borrower’s next payday. These loans are known for their high interest rates and fees, which can make them difficult to repay and can trap borrowers in cycles of debt.

Why are payday loans illegal in West Virginia?

West Virginia is one of many states that has chosen to prohibit payday lending due to concerns about the high costs and potential for predatory lending practices. In 2007, the state passed the West Virginia Consumer Credit and Protection Act, which caps interest rates at 31% APR and prohibits payday lending.

What are the alternatives to payday loans in Shoals, West Virginia?

While payday loans may be illegal in West Virginia, there are still several options available to borrowers who need quick access to cash. Some of the most popular alternatives include:

  • Credit unions: Many credit unions offer small-dollar loans with more reasonable terms and interest rates than payday loans.
  • Installment loans: Some lenders offer installment loans that are repaid over a longer period of time than payday loans, which can make them more manageable for borrowers.
  • Personal loans: Personal loans from banks or online lenders can be a good option for borrowers who need larger amounts of money.

Interesting facts and statistics about payday loans in Shoals, West Virginia

  • In 2016, the average payday loan in West Virginia was $375 with an average APR of 318%.
  • According to a study by the Center for Responsible Lending, payday lenders in West Virginia took more than $8 million in fees from consumers in 2015.
  • In 2019, the West Virginia Attorney General’s office received 17 complaints about payday lenders.

Apply Now

If you need quick access to cash in Shoals, West Virginia, TheGuaranteedLoans can help connect you with potential lenders who offer personal loans or other alternatives to payday loans. As a connector service, TheGuaranteedLoans is not a direct lender and does not make credit decisions. Instead, we facilitate your connection with potential lenders who may be able to help you get the money you need.

Apply now on our website and fill out our online application to get started. Our process is fast, easy, and secure, and you’ll receive a decision on your application in minutes.

At TheGuaranteedLoans, we are committed to helping you find the best loan options for your needs, so you can get back on your feet and achieve financial stability.

F.A.Q.

Can I be sued for defaulting on a payday loan in Shoals, West Virginia?

No, you cannot be sued for defaulting on a payday loan in Shoals, West Virginia because these loans are illegal in the state.

Can a payday loan be included in a bankruptcy filing in Shoals, West Virginia?

No, a payday loan cannot be included in a bankruptcy filing in Shoals, West Virginia because these loans are illegal in the state.

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