Payday Loans in Indian Valley, Virginia

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

Company nameAddressZip codePhone number
Advance America 1264 Smithfield Plaza, Smithfield, VA 23430 +1 (757) 365 - 9700
Regional Finance 6810-A Bland St, Springfield, VA 22150 +1 (703) 245 - 6008
BB&T 50 Peppers Ferry Rd NW, Christiansburg, VA 24073 +1 (540) 381 - 5770
BB&T 23857 Dickenson Hwy, Haysi, VA 24256 +1 (276) 865 - 5141
Eastman Credit Union 265 Jones St, Gate City, VA 24251 +1 (800) 999 - 2328
SunTrust Bank 5727 Burke Centre Pkwy, Burke, VA 22015 +1 (703) 825 - 2218
First Citizens Bank 116 W Carolina Ave, Crewe, VA 23930 +1 (434) 645 - 7726
Atlantic Union Bank 6720 Sutton Rd, Gloucester, VA 23061 +1 (804) 695 - 9300
Capital One Bank 1680 Capital One Dr, McLean, VA 22102 +1 (703) 448 - 3747
SunTrust 4377 Kevin Walker Dr, Dumfries, VA 22026 +1 (703) 986 - 2125

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Indian Valley, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Petersburg, VA, Payday Loans in Portsmouth, VA, Emergency Loan in Reston, VA, 24-Hour Loan in Richmond, VA, Payday Loans in Roanoke, VA, Payday Loans in Springfield, VA, Payday Loans in Sterling, VA and Payday Loans in Suffolk, 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 Indian Valley, VA.

Are Payday Loans Legal In Indian Valley, 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

Indian Valley, VA payday loan calculator

Understanding Payday Loans in Indian Valley, Virginia: A Comprehensive Guide

Payday loans are financial products that can be a solution in a time of personal financial hardship, especially for those who cannot access traditional forms of credit. If you live in Indian Valley, Virginia, and are considering a payday loan, it is important to understand the regulations, benefits, and pitfalls of these loans before making a decision.

What are Payday Loans in Indian Valley, Virginia?

A payday loan is a small, short-term loan that is intended to be repaid in full when the borrower’s next paycheck is received. Loans are typically offered in amounts of $500 or less, with repayment periods ranging from two weeks to a month.

Payday loans are legal in Virginia, but they are heavily regulated to protect borrowers. There are rules around the maximum loan amount, fees, and interest rates that lenders can charge.

How do Payday Loans Work in Indian Valley, Virginia?

To apply for a payday loan in Indian Valley, Virginia, you will need to provide proof of income and identification. Lenders will typically not perform a credit check, but they will verify that you have a regular source of income. Once you are approved for a loan, the funds will be deposited into your checking account, usually within one business day.

When it’s time to repay the loan, the lender will either withdraw the funds directly from your bank account, or you can make a payment in person or online.

The Pros and Cons of Payday Loans in Indian Valley, Virginia

The Pros

  • Easy and fast application process
  • No credit check required
  • Can be a solution in a time of financial hardship

The Cons

  • High fees and interest rates
  • Can lead to a cycle of debt if not repaid on time
  • May not be a sustainable solution to long-term financial problems

Important Regulations for Payday Loans in Indian Valley, Virginia

As previously mentioned, payday loans in Virginia are heavily regulated to protect consumers. The Virginia Bureau of Financial Institutions oversees the industry and enforces the following regulations:

  • Maximum loan amount: $500
  • Maximum finance charge: 36% of the amount borrowed
  • Maximum loan term: 2 pay periods
  • No more than one loan at a time
  • One loan per lender per borrower per calendar year

Apply Now for a Payday Loan in Indian Valley, Virginia

If you are in need of a payday loan in Indian Valley, Virginia, TheGuaranteedLoans can connect you with potential lenders. As a connector service, we are not a direct lender and do not have control over the loan terms offered by potential lenders. However, we are committed to providing our customers with a fast, easy, and transparent experience. Apply now to see if you qualify for a payday loan.

Interesting Facts about Payday Loans in Indian Valley, Virginia

  • In Virginia, the average payday loan has an APR (annual percentage rate) of 601%
  • In 2018, Virginia borrowers took out over 3.5 million payday loans, totaling $1.5 billion in loans
  • The average payday loan amount in Virginia in 2018 was $385

Remember, obtaining a payday loan in Indian Valley, Virginia is an important decision. While payday loans may be a solution in a time of financial hardship, they can also lead to a cycle of debt if not repaid on time. Be sure to carefully consider the pros and cons of taking out a payday loan before making a decision.

F.A.Q.

Can I be sued or have my wages garnished for defaulting on a payday loan in Indian Valley, Virginia?

Yes, if you default on a payday loan in Indian Valley, Virginia, the lender may pursue legal action against you to recover the outstanding debt. This could include suing you in court and obtaining a judgment against you, which could lead to wage garnishment or other collection actions.

Can a payday lender repossess my property if I default on my loan in Indian Valley, Virginia?

No, payday lenders in Indian Valley, Virginia are not allowed to repossess property in order to recover a defaulted loan. However, if you have provided a post-dated check as collateral for the loan, the lender may be able to cash the check in order to recover the outstanding debt.