Payday Loans in Troy, West Virginia

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

Company nameAddressZip codePhone number
Tin Mill Employees Fcu 3016 West St, Weirton, WV 26062 +1 (304) 748 - 5811
Lendmark Financial Services LLC 506 Emily Dr, Clarksburg, WV 26301 +1 (304) 626 - 3291
Clear Mountain Bank 15 Sweetbrier Ln, Bridgeport, WV 26330 +1 (304) 848 - 4000
Huntington Bank 201 High St, Morgantown, WV 26505 +1 (304) 291 - 7700
OCPS Federal Credit Union 280 Fulton St, Wheeling, WV 26003 +1 (304) 243 - 0499
Pioneer West Virginia Federal Credit Union 1316 Kanawha Blvd E, Charleston, WV 25301 +1 (304) 348 - 6648
WVU Credit Union 448 Harding Ave, Morgantown, WV 26505 +1 (304) 293 - 5737
Bank of Romney 63 Winchester St, Paw Paw, WV 25434 +1 (304) 947 - 7255
Gold Rush Bridgeport - Cash for Gold, Diamonds, Coins 1214 W Main St, Bridgeport, WV 26330 +1 (304) 435 - 8088
Roy's Archery 121 Central Ave, Oak Hill, WV 25901 +1 (304) 469 - 2697

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In Troy, 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

Troy, WV payday loan calculator

Payday loans have become a popular financial solution in several states across the U.S. Due to their high interest rates, complex terms, and fees, these loans have become controversial. In Troy, West Virginia, payday loans are prohibited.

The Reality of Payday Loans

Payday loans are short-term loans and are typically due within two weeks or by the borrower’s next payday. To take out a payday loan, a borrower typically writes a post-dated check to the lender, in the amount of the loan plus the interest fee. The borrower then receives the loan amount, which is typically much less than the post-dated check amount. After the due date, the lender cashes the check or electronically debit the borrower’s account.

Payday loans have incredibly high interest rates, sometimes reaching triple digits. These loans are so expensive that borrowers often have to take out additional loans to pay back the original one, trapping them in a cycle of debt.

The Prohibition of Payday Loans in Troy, West Virginia

In West Virginia, payday lending is prohibited by law. Payday lenders are not permitted to operate any kind of lending business in Troy. Consumers in Troy, WV, however, still have options other than payday loans.

Alternative Options to Payday Loans in Troy, West Virginia

  • Personal loans from banks or credit unions
  • Credit card cash advances
  • Selling unused items
  • Budgeting and reducing expenses
  • Creating an emergency fund

These options might not offer the immediate relief that a payday loan would, but they may offer a better long-term solution.

Key Facts and Statistics on Payday Loans in Troy, West Virginia

  • Payday lending is illegal in West Virginia.
  • The average borrower takes out eight payday loans per year, with interest rates ranging gradually from 300 to 500 percent annually.
  • Payday lending leads to $6 million in fees paid by West Virginia consumers annually.

These facts emphasize the importance of understanding the impact of payday loans on individuals and communities.

Apply Now

If you are in need of financial help, consider applying for a loan through our website. TheGuaranteedLoans is a connector service, not a direct lender, and we will facilitate your connection with potential lenders who can meet your borrowing needs. Our online application process is simple and straightforward.

Apply with us today. Let us help you find a lender that fits your needs while also avoiding the negative impact of payday loans.

Conclusion

Payday loans might seem like a quick fix to financial issues, but they can lead to a vicious cycle of debt. Payday loans in Troy, West Virginia, are illegal and not an option for additional access to funds. When you need financial assistance, consider alternative options and finding a lender that works for you.

F.A.Q.

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

Consumers in Troy, 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 Troy, West Virginia?

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

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