Payday Loans in Machipongo, Virginia

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

Company nameAddressZip codePhone number
Payne's Check Cashing 816 Cherry Ave, Charlottesville, VA 22903 +1 (434) 295 - 0392
Walmart Money Center 171 Burgess Rd, Harrisonburg, VA 22801 +1 (540) 433 - 0808
Atlantic Union Bank 50 W Main St, Radford, VA 24141 +1 (540) 731 - 1102
Westview Financial Services 209 Village Ave a, Yorktown, VA 23693 +1 (757) 778 - 8260
Express Check Advance 1106 W Mercury Blvd, Hampton, VA 23666 +1 (757) 825 - 0003
BB&T 228 Chase St, Clintwood, VA 24228 +1 (276) 926 - 8485
Carter Bank & Trust 135 Scruggs Rd, Moneta, VA 24121 +1 (540) 721 - 5200
Wells Fargo Bank 20786 Riverside Dr, Grundy, VA 24614 +1 (276) 935 - 8151
Peach Capital Partners 6802 Paragon Pl 410, Richmond, VA 23230 +1 (804) 441 - 6266
Navy Federal Credit Union 46300 Potomac Run Plaza Ste 180, Sterling, VA 20164 +1 (888) 842 - 6328

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Machipongo, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Burke, VA, Payday Loans in Centreville, VA, Payday Loans in Charlottesville, VA, Payday Loan Without a Credit Check in Chesapeake, VA, Emergency Loan in Danville, VA, Payday Loans in Hampton, VA, Same Day Loans in Harrisonburg, VA and Payday Loans in Leesburg, 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 Machipongo, VA.

Beautiful sights of Machipongo, VA

Are Payday Loans Legal In Machipongo, 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

Machipongo, VA payday loan calculator

Payday loans in Machipongo, Virginia: A Comprehensive Guide

When unexpected expenses arise, it’s not always easy to come up with the cash to cover them. Whether it’s a medical emergency, car repairs, or an overdue bill, the stress of financial uncertainty can be overwhelming. Machipongo, Virginia, like many areas, has its own specific laws, regulations, and options for payday loans.

In this article, we’ll take an in-depth look at payday loans in Machipongo, Virginia, how they work, where to find them, and what you should know before applying. Plus, we’ll provide some interesting facts and statistics about payday loans in Virginia.

What are Payday Loans?

A payday loan is a short-term, high-interest loan typically used to cover an immediate expense. The borrower takes out a small loan, usually between $100 and $500, with a repayment deadline of about two weeks or until their next paycheck arrives. In exchange for the loan, the borrower pays a fee that is often equivalent to or even higher than the amount borrowed.

Payday loans are often marketed as a quick and easy solution to financial problems, but they can be very expensive and may lead to a cycle of debt for those who struggle to repay them on time.

How Do Payday Loans Work in Machipongo, Virginia?

In Virginia, payday loans are legal, with certain regulations in place to protect borrowers from excessive fees and interest rates. Under Virginia law, payday lenders cannot charge more than 36% APR, plus a $5 verification fee and a 20% loan fee for the first $300 borrowed. For loans between $300 and $500, the loan fee drops to 15%. Additionally, borrowers can only take out one payday loan at a time, and each loan must be repaid within two pay periods.

When applying for a payday loan in Machipongo, Virginia, borrowers must provide proof of income and a valid ID. The lender will then determine how much they can borrow and the fees associated with the loan. If the borrower agrees to the terms, they’ll write a postdated check for the total amount due, including fees, and receive the loan funds in cash or deposited into their bank account.

It’s important to carefully read and understand the terms and fees associated with a payday loan before agreeing to the loan. Borrowers should also have a plan in place to repay the loan on time, as late fees and additional interest rates can quickly add up.

Facts and Statistics about Payday Loans in Machipongo, Virginia

  • In 2018, Virginia payday lenders made more than 980,000 payday loans with an average loan amount of $385.
  • The majority of Virginia payday borrowers (77%) take out repeat loans.
  • The average payday borrower in Virginia pays $601 in fees on a $500 loan, averaging an annual percentage rate of 267%.
  • Despite Virginia’s regulations, payday lenders often find loopholes in the law to charge higher fees and interest rates.
  • There are currently no payday lenders in Machipongo, Virginia, but residents can still access payday loans from other lenders both in-store and online.

Apply Now for a Payday Loan in Machipongo, Virginia

If you’re in need of a payday loan in Machipongo, Virginia, TheGuaranteedLoans can help connect you with potential lenders. Our online application is quick and easy to fill out, and we’ll work to find you the best possible loan offer. It’s important to note that TheGuaranteedLoans is a connector service, not a direct lender, which means we don’t make credit decisions or loan money. Our service is free to use, and there’s no obligation to accept any loan offer you receive.

Don’t let financial stress get you down. Apply now for a payday loan in Machipongo, Virginia, and get the cash you need to cover unexpected expenses.

F.A.Q.

Can a payday lender charge additional fees if I am unable to repay my loan on time?

Yes, if you are unable to repay your payday loan on time in Machipongo, Virginia, the lender may charge additional fees and interest. These fees and interest must be clearly disclosed in the loan agreement and cannot exceed the maximum allowed by Virginia law.

Are there any limits on the number of times a payday lender can attempt to withdraw funds from my bank account in Machipongo, Virginia?

Yes, Virginia law limits the number of times that a payday lender can attempt to withdraw funds from a borrower's bank account. A lender is only allowed to make two attempts to withdraw funds from the borrower's account. If the lender is unable to withdraw the funds, they must provide written notice to the borrower before making any further attempts.