Payday Loans in Summit Point, West Virginia

All Credits Welcome!

If you have a bad credit score, then don’t worry – it’s not an issue for us!

TGL Loan Services

You can get your money fast after filling out the simple form on the "Get Started" page! Lenders cannot guarantee the approval, but they could approve your loans, even if you are unemployed, receiving government benefits.

Fast Money In Your Bank

You can get your money within hours after filling out the form! We work 24/7 for you!
  • This form is protected with secure 256-bit SSL encryption
  • By clicking “Get Started”, I consent and agree to the Privacy Policy and Terms of Use.

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

Company nameAddressZip codePhone number
Paradise Pawn 482 Williamsport Pike, Martinsburg, WV 25404 +1 (304) 263 - 8100
Union Trades Federal CU 1925 Murdoch Ave, Parkersburg, WV 26101 +1 (304) 485 - 1421
MVB Bank 651 Foxcroft Ave # 100, Martinsburg, WV 25401 +1 (304) 264 - 4000
City National Bank 100 Poplar Fork Rd, Scott Depot, WV 25560 +1 (304) 757 - 4004
Citizens Bank of Weston 47 Industrial Park Rd, Jane Lew, WV 26378 +1 (304) 884 - 7825
Star USA Federal Credit Union 5201 W Webster Rd, Summersville, WV 26651 +1 (304) 883 - 0000
First United Bank & Trust 8919 Williamsport Pike, Falling Waters, WV 25419 +1 (304) 274 - 3707
Community Bank of Parkersburg 631 Juliana St, Parkersburg, WV 26101 +1 (304) 485 - 7991
City National Bank 1 Park Ave, Beckley, WV 25801 +1 (304) 255 - 7000
Clear Mountain Bank 41 S Buffalo St, Rowlesburg, WV 26425 +1 (304) 454 - 2431

Payday Loan Companies in Nearby Cities

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

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

25446

Are Payday Loans Legal In Summit Point, 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

Summit Point, WV payday loan calculator

The Truth About Payday Loans in Summit Point, West Virginia

Payday loans are a type of short-term, high-interest loan that many people turn to when they need quick cash. Unfortunately, payday loans are prohibited in West Virginia, including in the town of Summit Point. In this article, we will delve into why payday loans are illegal in West Virginia and discuss alternative options for those who are in need of financial assistance.

Why Are Payday Loans Prohibited in West Virginia?

In 2007, West Virginia passed legislation that effectively outlawed payday lending in the state. The new law set a maximum APR of 36% for small loans, making it impossible for payday lenders to operate in the state. The law was enacted to protect consumers from the cycle of debt that often comes with payday loans, which can have interest rates as high as 400%.

What Are the Alternatives to Payday Loans in Summit Point?

Just because payday loans are illegal in West Virginia doesn’t mean that residents in Summit Point have no options when they need to borrow money. Here are some alternatives to consider:

  • Credit Unions: Credit unions often offer small, short-term loans at much lower interest rates than payday lenders. They are also usually more flexible about repayment terms and are more willing to work with borrowers who are struggling to make ends meet.
  • Borrow from family or friends: While borrowing from friends or family may not be a popular option, it can be a good alternative to payday lending if the terms are favorable and everyone is clear on the repayment schedule.
  • Budgeting and emergency funds: Planning ahead and building an emergency fund can help avoid the need for borrowing in the first place. Consider a personal installment loan with fair terms you can find with TheGuaranteedLoans.

Interesting Facts About Payday Loans in Summit Point, West Virginia

  • In 2017, the average payday loan in West Virginia was for $372, with an average interest rate of 129%.
  • The average payday borrower in West Virginia takes out eight loans per year, spending an average of $1,005 in interest and fees.
  • In 2019, a federal bill proposing a nationwide interest cap of 36% for payday loans was introduced to the House of Representatives.

Apply Now

At TheGuaranteedLoans, we connect individuals in Summit Point and beyond with reputable lenders. We understand that everyone’s financial situation is unique, and we work hard to find the right lender to meet your specific needs. Our application process is simple and straightforward, and we never charge any fees to use our service. Click the “Apply Now” button below to get started.

Please note: TheGuaranteedLoans is not a direct lender, but rather a connector service that will facilitate your connection with potential lenders. We never make credit decisions and do not endorse any particular lender or loan product.

F.A.Q.

Can I still be charged fees on a payday loan in Summit Point, West Virginia?

No, you cannot be charged fees on a payday loan in Summit Point, West Virginia because these loans are illegal in the state.

Can I be evicted from my home for taking out a payday loan in Summit Point, West Virginia?

No, you cannot be evicted from your home for taking out a payday loan in Summit Point, West Virginia because these loans are illegal in the state.

Look for Short-Term Loans in Other Cities: