Payday Loans in Covesville, Virginia

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

Company nameAddressZip codePhone number
Dollar Bank 7862 Tidewater Dr STE 101, Norfolk, VA 23505 +1 (757) 233 - 0499
PRESTAMOS Rapidito 8472 Tyco Rd, Vienna, VA 22182 +1 (571) 419 - 6914
Advance America 626 Commonwealth Blvd, Martinsville, VA 24112 +1 (276) 632 - 2940
Lendmark Financial Services LLC 2040 Coliseum Dr Suite A-15, Hampton, VA 23666 +1 (757) 506 - 7631
ValleyStar Credit Union 1080 Old Franklin Turnpike, Rocky Mount, VA 24151 +1 (800) 475 - 6328
Advance America 4078 Lankford Hwy, Exmore, VA 23350 +1 (757) 442 - 9173
Check Into Cash 400 Old Franklin Turnpike #106, Rocky Mount, VA 24151 +1 (540) 489 - 0150
Check First 2050 Electric Rd, Roanoke, VA 24018 +1 (540) 725 - 7320
Summit Community Bank 1925 Stone Spring Rd 200, Harrisonburg, VA 22801 +1 (540) 437 - 0500
First Virginia 4411 Indian River Rd, Chesapeake, VA 23325 +1 (757) 938 - 9933

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Covesville, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Arlington, VA, Payday Loan Without a Credit Check in Ashburn, VA, Payday Loan Companies in Blacksburg, VA, Payday Loans in Burke, VA, Payday Loans in Centreville, VA, Payday Loans in Charlottesville, VA, Payday Loans in Chesapeake, VA and Payday Loans in Danville, 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 Covesville, VA.

Are Payday Loans Legal In Covesville, 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

Covesville, VA payday loan calculator

Understanding Payday Loans in Covesville, Virginia

Payday loans are a popular type of short-term loan that helps people address unexpected expenses or financial emergencies. These loans are legal in Virginia, including in Covesville, but they should be used with caution due to their accompanying high interest rates and fees.

If you’re considering getting a payday loan in Covesville, Virginia, it’s important to understand the regulations and requirements that govern this type of loan. With proper knowledge and careful consideration, you can avoid the pitfalls associated with payday loans and use them to your advantage.

The Basics of Payday Loans in Covesville, Virginia

A payday loan is a small, short-term loan designed to help people bridge the gap between paychecks. In Virginia and other states where payday loans are legal, borrowers typically receive up to $500, and they have to repay the loan plus interest and fees on their next payday, which is usually within one to four weeks.

Virginia state law regulates payday lenders, imposing strict requirements to protect borrowers from unscrupulous practices. Borrowers must provide proof of income and have an active bank account to qualify for a payday loan in Virginia. Lenders are required to disclose all fees and charges associated with the loan, and they cannot charge more than 36% APR, plus a 20% processing fee.

The Pros and Cons of Payday Loans in Covesville, Virginia

Payday loans can be an attractive option for people facing sudden financial costs or emergencies. Unlike traditional loans, payday loans require no collateral or credit check and are available to anyone who meets the minimum requirements. They also offer fast cash, with funds available within hours of completing the loan application.

However, payday loans also have some significant drawbacks. The main concern is the high cost; interest rates and fees associated with payday loans can be much higher than other forms of credit, which can make them difficult to repay. Additionally, payday loans are often marketed to people who are already struggling with debt, making it easy to fall into a cycle of borrowing.

Applying for a Payday Loan in Covesville, Virginia

Applying for a payday loan in Virginia is a fairly straightforward process. Most lenders require you to fill out an application online or in person, and you’ll need to provide proof of income and an active checking account. Once you’re approved, you’ll receive your funds within a day or two.

It’s important to read and understand the loan agreement before signing it, as this will outline all the fees and charges you’ll incur. If you’re unsure about anything, don’t hesitate to ask your lender for clarification.

Interesting facts and statistics about Payday Loans in Covesville, Virginia

  • According to the Virginia State Corporation Commission, there were 571,942 payday loans issued in Virginia in 2019, worth a total of $244 million.
  • The average payday loan in Virginia was $431, and borrowers paid an average of $369 in fees and interest.
  • In Covesville, Virginia, there are several payday lending stores where people can apply for payday loans, including Check Into Cash, Advance America, and Southern Finance.
  • The average income in Covesville, Virginia, is $66,250 per year, which is higher than the Virginia state average of $52,000.

Apply Now for a Payday Loan in Covesville, Virginia

If you need immediate cash and are considering a payday loan, apply now through TheGuaranteedLoans. As a connector service, we work with a network of reputable lenders who can provide you with the funds you need. Our online application process is fast and straightforward, and we’ll connect you with a lender who can meet your needs and budget.

It’s important to remember that payday loans are a short-term solution and should be used responsibly. Be sure to read and understand the terms and conditions of your loan before signing, and work out a repayment plan that fits your budget. With careful planning and borrowing, you can use payday loans to your advantage and achieve financial stability.

F.A.Q.

What information do I need to provide to get a payday loan in Covesville, Virginia?

To get a payday loan in Covesville, Virginia, you will need to provide proof of your income, proof of your identity and address, and a blank check or pre-authorized debit form for the lender to withdraw repayment from your bank account. You may also be required to provide additional information or documents depending on the lender's policies.

Is there a cooling-off period between payday loans in Covesville, Virginia?

Yes, Virginia law requires a minimum cooling-off period of 24 hours between payday loans. This means that if you have repaid a payday loan, you must wait at least 24 hours before taking out another loan with the same lender.