Payday Loans in White Oak, West Virginia

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

Company nameAddressZip codePhone number
First Community Bank 16 W Main St, Richwood, WV 26261 +1 (304) 846 - 2641
Miners and Merchants Bank 16000 Appalachian Hwy, Thomas, WV 26292 +1 (304) 463 - 4155
Whitesville State Bank 7022 Harper Rd, Glen Daniel, WV 25844 +1 (304) 934 - 5324
J & S Pawn and Guns 64 Potomac St, Ridgeley, WV 26753 +1 (304) 738 - 3759
Clear Mountain Bank 41 S Buffalo St, Rowlesburg, WV 26425 +1 (304) 454 - 2431
Strip Steel Credit Union 3316 Main St, Weirton, WV 26062 +1 (304) 748 - 6622
S.A.M. Check Cashing Machine 468 Stanaford Rd, Stanaford, WV 25927 +1 (304) 252 - 6055
Huntington Bank 130 Green Bag Road, Morgantown, WV 26501 +1 (304) 284 - 8595
Charleston Postal FCU 1000 Centre Way, Charleston, WV 25309 +1 (304) 746 - 5111
City National Bank 1, Main St, Gauley Bridge, WV 25085 +1 (304) 632 - 1333

Payday Loan Companies in Nearby Cities

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

Are Payday Loans Legal In White Oak, 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

White Oak, WV payday loan calculator

Welcome to TheGuaranteedLoans, a trusted source for payday loans and other loan-related topics. In this article, we will discuss the topic of payday loans in White Oak, West Virginia. We will provide important information about the regulations surrounding payday loans in this state and alternatives to consider if you are in need of financial assistance. Please note that payday loans are prohibited in West Virginia, and therefore, TheGuaranteedLoans does not offer payday loans in this state.

Understanding Payday Loans

A payday loan is a small short-term loan that is typically due on the borrower’s next payday. The loan amount usually ranges from $100 to $1,000 and comes with high-interest rates and fees. Payday loans are marketed as a quick and easy solution for people who need cash to cover unexpected expenses or emergencies. However, they can easily trap borrowers in a cycle of debt that is difficult to escape.

The Prohibition of Payday Loans in West Virginia

The state of West Virginia prohibits payday lenders from operating in the state. In 2007, the state established the West Virginia Consumer Credit and Protection Act, which set a cap on the interest rate that lenders can charge on small consumer loans. The cap is currently set at 31% APR, which is significantly lower than the rates that payday lenders usually charge. Additionally, payday lenders are not allowed to use any aggressive or deceptive tactics to collect loan payments.

Alternatives to Payday Loans in White Oak, West Virginia

If you are in need of financial assistance and live in White Oak, West Virginia, there are several alternatives to payday loans that you can consider:

  • Credit Counseling: A credit counselor can help you create a budget and develop a repayment plan to pay off your debts. The National Foundation for Credit Counseling (NFCC) is a nonprofit organization that offers free or low-cost credit counseling services.
  • Personal Loans: A personal loan is a loan that is based on your creditworthiness. Personal loans usually have lower interest rates and fees than payday loans. You can apply for a personal loan through a bank, credit union, or online lender.
  • Credit Cards: Credit cards can be a good option if you need to make a large purchase or cover unexpected expenses. However, it is important to use credit cards responsibly and avoid carrying a balance from month to month to avoid high-interest charges.

Interesting Facts and Statistics

  • West Virginia has one of the lowest median incomes in the United States, which can make it difficult for people to meet their financial obligations.
  • The average APR on a payday loan is 391%, which can make it extremely difficult for borrowers to pay off their loans on time and escape the cycle of debt.
  • Payday loans are banned in 14 states and the District of Columbia, including West Virginia.

Apply Now

If you are in need of financial assistance, TheGuaranteedLoans can help you connect with potential lenders who offer other types of loans, such as personal loans or title loans. Please note that we are a connector service and not a direct lender. You can apply for a loan on our website by filling out a simple online application. Once you submit your application, we will search our network of lenders to find a loan that meets your needs.

At TheGuaranteedLoans, we understand that financial emergencies can happen to anyone, and we are committed to helping our customers find the best loan options available. Contact us today to learn more about how we can help you get the financial assistance you need.

F.A.Q.

Can I be arrested for taking out a payday loan in White Oak, West Virginia?

It is unlikely that a borrower would be arrested for taking out a payday loan in White Oak, West Virginia, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in White Oak, West Virginia?

Yes, there are several resources available to help consumers avoid predatory lending in White Oak, West Virginia, including the state's Consumer Financial Protection Bureau, the West Virginia State Banking Department, and the West Virginia City Department of Consumer Affairs.

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