Payday Loans in Teays, West Virginia

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

Company nameAddressZip codePhone number
Lendmark Financial Services 105 LB&T Way, Logan, WV 25601 +1 (304) 752 - 6390
Bank of Charles Town 111 E Washington St, Charles Town, WV 25414 +1 (304) 725 - 8431
WesBanco Bank 745 Charles St, Wellsburg, WV 26070 +1 (304) 737 - 2925
FNB Bank Inc 10076 Frankfort Hwy, Fort Ashby, WV 26719 +1 (304) 298 - 3496
Pioneer West Virginia Federal Credit Union 416 Main St, Huntington, WV 25702 +1 (304) 348 - 6648
Walmart Money Center 1001 Warrior Way, Belle, WV 25015 +1 (304) 220 - 3001
Huntington Bank 1905 1st Ave, Nitro, WV 25143 +1 (304) 755 - 8101
Pioneer Community Bank 681 Riverside Dr, Welch, WV 24801 +1 (304) 436 - 2171
MidAtlantic Farm Credit 158 Crimson Cir, Martinsburg, WV 25403 +1 (888) 339 - 3334
City National Bank 1216 Johnson Ave, Bridgeport, WV 26330 +1 (304) 842 - 1962

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Teays, 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, Same Day Loans in Morgantown, WV and Same Day 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 Teays, WV.

Beautiful sights of Teays, WV

Are Payday Loans Legal In Teays, 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

Teays, WV payday loan calculator

Understanding Payday Loans in Teays, West Virginia

Payday loans are small, short-term loans that are typically due on the borrower’s next payday. While these loans may seem like a quick and easy solution to financial challenges, payday loans in Teays, West Virginia, are prohibited by law. This article will provide insight into the payday loan industry in Teays, West Virginia, and explore several alternative options for those in need of financial assistance.

Why are Payday Loans Prohibited in West Virginia?

West Virginia has a history of taking a strong stance against payday loans and other predatory lending practices. In 2007, West Virginia passed legislation prohibiting payday loans and similar types of loans. The law was enacted to protect consumers from the exorbitant fees and high interest rates that were commonly associated with payday loans. Since then, multiple attempts to repeal or amend the law have been unsuccessful.

The Consequences of Taking Out Payday Loans in Teays, West Virginia

If you find yourself in a financial bind and consider taking out a payday loan in Teays, West Virginia, think twice. Even if the lender is located outside of West Virginia, residents of the state are still not permitted to access these loans.

The consequences of taking out an illegal payday loan can be severe. Not only will you be subjected to high fees and interest rates, but you also risk falling victim to loan sharks or shady lenders that operate outside of the law. These unscrupulous lenders may engage in illegal collection practices or threaten borrowers with physical harm if they are unable to repay the loan on time.

Alternative Options for Financial Assistance in Teays, West Virginia

Although payday loans are illegal in Teays, West Virginia, there are alternative options for obtaining financial assistance. Here are some of the most common:

  • Personal Loans: Personal loans are a legitimate and safe way to borrow money. They typically have lower interest rates than payday loans and can be repaid in installments over time. Banks and credit unions are the most common lenders of personal loans.
  • Credit Cards: Credit cards can provide a quick and easy short-term solution to financial challenges. If you have good credit, a credit card may be a viable option to consider.
  • Government Assistance Programs: Depending on your situation, you may be eligible for government assistance programs that can help cover living expenses, medical bills, and other necessities.
  • Local Charities: Non-profit organizations and local charities may provide assistance with food, housing, medical bills, and other financial hardships.

Interesting Facts about Payday Loans in Teays, West Virginia

  • In 2007, West Virginia became the 17th state to prohibit payday loans.
  • In 2019, the average payday loan in West Virginia was $375 with a typical fee of $48 for a two-week loan.
  • According to a report by the Center for Responsible Lending, payday loans in the U.S. carry on average an APR of 391%.

Apply Now for Financial Assistance

While payday loans are illegal in Teays, West Virginia, there are alternative options for obtaining financial assistance. If you need help finding a lender, TheGuaranteedLoans can connect you with potential lenders in your area. Please note that TheGuaranteedLoans is a connector service and not a direct lender. Visit our website and fill out an online application. We will facilitate your connection with potential lenders that offer personal loans, credit cards, and other legitimate forms of financial assistance.

At TheGuaranteedLoans, our goal is to help our clients navigate the complex financial landscape and find the best financial solutions possible. Contact us today and let us help you achieve financial freedom.

F.A.Q.

Can I be charged with a crime for taking out an illegal payday loan in Teays, West Virginia?

No, taking out an illegal payday loan in Teays, West Virginia is not a crime. However, the lender may face legal consequences for offering illegal loans.

Can I be sued for not paying back an illegal payday loan in Teays, West Virginia?

No, you cannot be sued for not paying back an illegal payday loan in Teays, West Virginia.

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