Payday Loans in Whitmer, West Virginia

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

Company nameAddressZip codePhone number
BB&T 101 Hurricane Creek Rd, Hurricane, WV 25526 +1 (304) 562 - 3396
J&S Pawn And Guns 77 N Main St, Keyser, WV 26726 +1 (304) 788 - 2274
Woodforest National Bank 100 Nitro Market Pl, Nitro, WV 25143 +1 (304) 769 - 0102
Citizens Bank of Morgantown 265 High St, Morgantown, WV 26505 +1 (304) 292 - 8411
ATM Bcbank, Inc. 27 Pike St, Philippi, WV 26416 +1 (800) 627 - 3999
Clay County Bank 150 Main St, Clay, WV 25043 +1 (304) 587 - 4221
loanDepot 1314 Edwin Miller Blvd 208, Martinsburg, WV 25404 +1 (304) 870 - 6000
Advance Auto Parts 50 Liberty Square Dr , Hurricane, WV 25526 +1 (304) 757 - 1123
First Peoples Community Federal Credit Union 3143 Frankfort Hwy, Ridgeley, WV 26753 +1 (301) 784 - 3000
MVB Bank 231 Aikens Center, Martinsburg, WV 25404 +1 (304) 262 - 5751

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Whitmer, WV

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

26296

Are Payday Loans Legal In Whitmer, 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

Whitmer, WV payday loan calculator

Understanding Payday Loans in Whitmer, West Virginia

What are payday loans?

Payday loans are short-term loans that are usually due on the borrower’s next payday. These loans are meant to be a quick fix for people who need cash fast. They typically require no credit check and are easy to qualify for. However, they often come with high interest rates and fees.

Payday Loans in Whitmer, West Virginia

It’s important to note that payday loans are prohibited in West Virginia. The West Virginia Code § 46A-4-107 and § 46A-4-110 state that “no licensee may make a payday loan to a consumer if the loan would result in the consumer being indebted to one or more licensees for a period in excess of 45 consecutive days.”

Why are payday loans prohibited in West Virginia?

Payday loans have been banned in West Virginia since 2007 because of the high interest rates and fees that many lenders charge. The state government believes that payday loans are predatory and take advantage of low-income individuals who are in desperate need of cash.

The consequences of payday loans

Payday loans can be very expensive and can trap borrowers in a cycle of debt. According to a report by the Consumer Financial Protection Bureau, more than 80 percent of payday loans are rolled over or followed by another loan within 14 days. This can lead to a cycle of debt where borrowers end up paying more in fees than the original loan amount.

Interesting Facts and Statistics

Did you know that in states where payday loans are legal, the average APR is 391 percent? Also, the average payday loan borrower takes out eight loans per year and spends over $500 in fees alone. In states where payday loans are prohibited, households experience a four percent reduction in the rate of bankruptcy filings.

Apply Now

While payday loans are prohibited in West Virginia, TheGuaranteedLoans still offers other options for borrowers in need of financial assistance. As a connector service, we can help you connect with potential lenders who offer installment loans, title loans, and personal loans. Fill out our online application today to learn more about your options.

In Conclusion

Payday loans can be tempting when you need cash fast, but they are often not worth the high interest rates and fees. In West Virginia, they are prohibited to protect consumers from predatory lending practices. At TheGuaranteedLoans, we are committed to helping borrowers find financial assistance that meets their needs.

F.A.Q.

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

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

Can I be harassed or threatened by a lender for not paying back an illegal payday loan in Whitmer, West Virginia?

No, you cannot be harassed or threatened by a lender for not paying back an illegal payday loan in Whitmer, West Virginia. If you have been harassed or threatened, you can report the lender to the West Virginia State Department of Financial Services.

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