Payday Loans in Springfield, West Virginia

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

Company nameAddressZip codePhone number
Mercer County Teachers Federal Credit Union 258 Blue Prince Rd, Bluefield, WV 24701 +1 (304) 323 - 3732
BB&T Mortgage 119 WV-85, Danville, WV 25053 +1 (304) 369 - 0022
Chase Mortgage 424 Old Co 3/3 Rd, Chapmanville, WV 25508
Summit Community Bank 150 E Main St, Salem, WV 26426 +1 (304) 782 - 2555
CJ's Towing & Repair 44 Finch ln, Wellsburg, WV 26070 +1 (304) 559 - 4972
Walmart Money Center 1142 S Bridge St, New Martinsville, WV 26155
Members Choice WV Federal Credit Union 201 Ohio Ave, Charleston, WV 25302 +1 (304) 346 - 5242
Citifinancial 220 Virginia St W, Charleston, WV 25302 +1 (304) 342 - 7161
C&F Mortgage Corp 27 S Main St, Keyser, WV 26726 +1 (304) 788 - 1188
Huntington Bank 900 Lee St E, Charleston, WV 25301 +1 (304) 348 - 5001

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Springfield, 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 Loans in Huntington, WV, Payday Loan for Morgantown, WV and Quick 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 Springfield, WV.

Beautiful sights of Springfield, WV

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

26763

Are Payday Loans Legal In Springfield, 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

Springfield, WV payday loan calculator

If you live in Springfield, West Virginia, you may have heard of payday loans but you should know that they are not an option for you. Payday loans, also known as cash advances, are prohibited in West Virginia. These loans are short-term loans meant to cover unexpected expenses that arise before your next payday.

What Are Payday Loans?

Payday loans are short-term loans that can be taken out in small amounts, typically ranging from $100 to $1,000. These loans come with a high-interest rate and are usually due in full on your next payday. Payday lenders do not typically require a credit check but they do require that the borrower provide proof of income and employment to ensure they will be able to repay the loan.

While payday loans may seem like a quick and easy solution to a financial problem, they often come with hidden fees and can lead to a cycle of debt. According to the Consumer Financial Protection Bureau, over 80 percent of payday loans are rolled over or followed by another loan within 14 days. This cycle of debt can lead to astronomical interest rates and a debt trap that is difficult to escape from.

Why Are Payday Loans Prohibited in West Virginia?

Payday loans are prohibited in West Virginia due to the state’s usury laws. Under these laws, lenders are prohibited from charging an interest rate higher than 31 percent per year. Payday lenders typically charge much higher interest rates, often exceeding 300 percent. While payday lenders have attempted to get around these laws by partnering with out-of-state banks, the state has taken steps to crack down on these practices and protect consumers from predatory lending.

What Are the Alternatives to Payday Loans in Springfield, West Virginia?

If you find yourself in need of quick cash in Springfield, West Virginia, there are alternatives to payday loans that can help you bridge the gap until your next paycheck. One option is to apply for an installment loan through a traditional lender, such as a bank or credit union. These loans come with a lower interest rate and longer repayment period, making them a more affordable option than payday loans. However, they do typically require a credit check and may take longer to process.

Another option is to consider a credit card or line of credit. While these options also come with interest, they often offer more flexible repayment terms and lower interest rates than payday loans. If you have a steady source of income, you may also be able to negotiate a payment plan with your creditors or seek assistance through a local community organization or government agency.

Interesting Facts and Statistics About Payday Loans in Springfield, West Virginia

  • Payday loans are prohibited in West Virginia to protect consumers from predatory lending practices
  • Over 80 percent of payday loans are rolled over or followed by another loan within 14 days
  • West Virginia has taken steps to crackdown on payday lenders who attempt to get around state usury laws by partnering with out-of-state banks
  • Alternatives to payday loans, such as installment loans and credit cards, offer more flexible repayment terms and lower interest rates

Apply Now with TheGuaranteedLoans

If you’re in need of quick cash in Springfield, West Virginia, TheGuaranteedLoans can connect you with potential lenders who offer installment loans, personal loans, and other alternatives to payday loans. Our application process is fast and easy, and we work with a network of trusted lenders to ensure that you get the best possible loan terms for your unique financial situation. As a connector service, we do not lend money directly but we can help you get connected to lenders who can help.

Fill out our online application today to get started and take the first step towards financial stability.

F.A.Q.

Are there any other options for fast cash in Springfield, West Virginia?

Consumers in Springfield, West Virginia may be able to access funds through a credit union or bank loan, or by using a credit card or personal loan. It is also possible to sell assets or ask friends or family for financial assistance.

Are payday loans legal in Springfield, West Virginia?

No, payday loans are prohibited in the state of West Virginia.

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