Payday Loans in Carrsville, Virginia

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No payday loan companies in Carrsville, VA. Consider companies in other cities:

Company nameAddressZip codePhone number
Atlantic Union Bank 1660 Tappahannock Blvd, Tappahannock, VA 22560 +1 (804) 443 - 9433
First Bank And Trust Company 121 N Main St, Woodstock, VA 22664 +1 (540) 459 - 7228
SunTrust Bank 5260 Merchants View Sq, Haymarket, VA 20169 +1 (703) 743 - 3000
Wells Fargo Bank 525 N Main St, Chase City, VA 23924 +1 (434) 372 - 4101
Capital One Bank 14901 Potomac Town Pl, Woodbridge, VA 22191 +1 (703) 492 - 2860
BB&T 125 N Central Ave, Staunton, VA 24401 +1 (540) 851 - 3900
SunTrust Bank 16131 Washington Hwy, Doswell, VA 23047 +1 (804) 886 - 6000
BB&T Mortgage 20 Centel Dr, Ferrum, VA 24088 +1 (540) 365 - 2161
First Bank & Trust Co. - Wise 303 W Main St, Wise, VA 24293 +1 (276) 328 - 3439
Cash-2-U Loans 3323 S Crater Rd c, Petersburg, VA 23805 +1 (804) 722 - 0094

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Carrsville, VA, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Reston, VA, Payday Loans in Richmond, VA, Payday Loans in Roanoke, VA, Payday Loans in Springfield, VA, No Credit Check Loans in Sterling, VA, Payday Loans in Suffolk, VA, Online Loans in Virginia Beach, VA and Payday Loans in Alexandria, VA. 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 Carrsville, VA.

Payday Loans Available in Carrsville, VA By The Following ZIP Codes:

23315

Are Payday Loans Legal In Carrsville, Virginia?

Loan Rates and Fees, Laws and Regulations in Virginia.

Virginia Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)36% APR (in reality can reach 601%*)
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term30 days
Number of Rollovers Allowed0
Finance Charges36% APR

Carrsville, VA payday loan calculator

Understanding Payday Loans in Carrsville, Virginia

When faced with financial difficulty, payday loans can feel like a quick solution to a pressing problem. These short-term loans, which provide borrowers with a small amount of cash in exchange for repayment on their next paycheck, are legal in the state of Virginia. Carrsville, Virginia, a small rural town located in the southeastern part of the state, is no exception. While payday loans may seem like a good idea in the moment, it’s important to understand their implications before making any hasty decisions.

How Payday Loans Work

Payday loans, also called cash advance loans, typically range from $100 to $500 and have a repayment term of two to four weeks. To obtain a payday loan in Carrsville, Virginia, borrowers can apply online or in-person at a payday lender’s storefront location.

Once approved, the borrower provides a postdated check, typically in the amount of the loan plus interest and fees, to be cashed on their next payday. If the borrower is unable to repay the loan in full by the due date, they may be able to roll the loan over for an additional fee.

The Pros and Cons of Payday Loans

While payday loans may be a convenient option for those in need of immediate cash, they come with a host of drawbacks. One major issue with payday loans is the high interest rates and fees associated with borrowing. The fees for payday loans in Virginia can be as high as 36% on an annual basis, making it difficult for borrowers to pay off the loan in full in a timely manner.

Another issue with payday loans is the temptation to roll over the loan for an additional fee, which can quickly lead to a cycle of debt. Borrowers who are unable to pay off their loans in full may find themselves borrowing again and again, ultimately paying far more in interest and fees than the original amount of the loan.

Despite these drawbacks, payday loans can be an attractive option for those who are unable to obtain credit from other sources or who are facing unexpected expenses or emergencies.

Interesting Facts and Statistics

  • According to the Virginia State Corporation Commission, over 630,000 payday loans were issued in Virginia in 2018, totaling over $232 million in borrowed funds.
  • In Carrsville, Virginia, there are currently two payday lenders operating storefront locations in the town.
  • On average, Virginia borrowers take out eight loans per year, with an average loan amount of $375.

Apply Now

If you’re in need of a payday loan in Carrsville, Virginia, TheGuaranteedLoans can help connect you with potential lenders. While we are not a direct lender, we are a connector service that can help match you with lenders based on your individual needs and financial situation.

Fill out our secure online application today to get started. Remember to borrow responsibly and only take out a loan if you can repay it in full and on time.

F.A.Q.

Can a payday lender file a lawsuit against me in Carrsville, Virginia?

Yes, if you default on a payday loan in Carrsville, Virginia, the lender may file a lawsuit against you to recover the outstanding debt. The lender must provide written notice of the lawsuit and the borrower has the right to appear in court and defend themselves.

Are there any restrictions on the interest rates that payday lenders can charge in Carrsville, Virginia?

Yes, Virginia law limits the interest rates that payday lenders can charge to 20% of the loan amount. This means that a lender cannot charge more than $100 in interest on a $500 payday loan.