Payday Loans in Nelsonia, Virginia

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

Company nameAddressZip codePhone number
Approved Cash 428 Peppers Ferry Rd NW, Christiansburg, VA 24073 +1 (540) 381 - 1342
First Citizens Bank 1322 S Main St, Blacksburg, VA 24060 +1 (540) 961 - 6212
First National Bank 2812 Main St, Hot Springs, VA 24445 +1 (540) 839 - 5100
Carter Bank & Trust 4498 S Amherst Hwy, Madison Heights, VA 24572 +1 (434) 845 - 8145
AFC Automotive Finance Corp. 838 Old George Washington S Suite F, Chesapeake, VA 23323 +1 (757) 485 - 5045
Village Bank Powhatan 1793 S Creek One, Powhatan, VA 23139 +1 (804) 419 - 0378
Loanmax Title Loans 2149 Jefferson Davis Hwy, Stafford, VA 22554 +1 (540) 657 - 9230
BB&T 4030 Halifax Rd, South Boston, VA 24592 +1 (434) 572 - 3994
Lendmark Financial Services LLC 6719 Fox Centre Pkwy, Gloucester, VA 23061 +1 (804) 210 - 5013
Regional Finance 5694 Brook Rd, Richmond, VA 23227 +1 (804) 253 - 9705

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Nelsonia, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Leesburg, VA, Payday Loans in Lynchburg, VA, Payday Loans in Manassas, VA, Emergency Loan in McLean, VA, Payday Loan for Mechanicsville, VA, Bad Credit Loans in Newport News, VA, Payday Loans in Norfolk, VA and No Credit Check Loans in Oakton, 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 Nelsonia, VA.

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

23414

Are Payday Loans Legal In Nelsonia, 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

Nelsonia, VA payday loan calculator

Understanding Payday Loans in Nelsonia, Virginia

Payday loans are short-term loans designed to help individuals meet their immediate financial needs. People borrow payday loans to pay unexpected expenses, such as medical bills, car repairs, or utility bills. These loans are also called cash advances or paycheck advances because they are taken out against a borrower’s next paycheck.

Payday loans in Nelsonia, Virginia, are regulated by state laws and are legal in Virginia. However, borrowers need to be aware of the terms and conditions of the loan before taking one out. The following are some essential things borrowers should know about payday loans in Nelsonia, Virginia.

Loan Amount and Terms

In Virginia, the maximum loan amount for payday loans is $500, and the loan term must be between two weeks and one month. Borrowers are charged finance fees, which can vary according to the loan amount and repayment period. In Nelsonia, Virginia, payday lenders typically charge 36% or more as annual percentage rates (APRs).

Borrowers are required to provide lenders with a post-dated check or authorization to withdraw money from their bank account when the loan is due. If the borrower cannot repay the loan on time, they may be charged additional fees and interest.

Eligibility Requirements

To be eligible for a payday loan in Nelsonia, Virginia, borrowers need to meet the following criteria:

  • Be 18 years or older
  • Have a steady source of income, such as a job or government benefits
  • Have an active bank account
  • Have a valid ID or driver’s license

Payday lenders do not require borrowers to have good credit scores, and they usually do not perform credit checks. However, lenders may check the borrower’s past loan history or employment status to determine their ability to repay the loan.

Risks and Alternatives

Borrowers need to be aware of the risks associated with payday loans, such as high-interest rates and fees, which can trap them in a cycle of debt. In Nelsonia, Virginia, borrowers can only have one payday loan at a time, and lenders are not allowed to renew or extend a loan. However, borrowers can take out a new loan on the same day that they pay off their existing loan.

There are alternatives to payday loans that borrowers can explore, such as:

  • Credit counseling or financial coaching
  • Short-term loans from credit unions or banks
  • Personal loans from family or friends
  • Cash advances on credit cards

Interesting Facts and Statistics about Payday Loans in Nelsonia, Virginia

  • The average payday loan amount in Virginia is $390.
  • Payday loans in Virginia have an average APR of 601%.
  • As of 2019, there were 1,191 licensed payday lenders in Virginia.
  • Payday loan borrowers in Virginia take out an average of eight loans per year.

Apply Now

If you need a payday loan in Nelsonia, Virginia, TheGuaranteedLoans is here to help. We are a financial connector service that partners with lenders to offer a wide range of loan options. Our online application process is quick and easy, and you can get matched with lenders in minutes. We work with borrowers of all credit types, and our lenders offer competitive rates and flexible repayment options. Apply now and get the funds you need to meet your immediate financial needs.

F.A.Q.

Are there any limitations on the interest rates or fees that payday lenders can charge in Nelsonia, Virginia?

Yes, Virginia law sets limits on the interest rates and fees that payday lenders can charge. The maximum interest rate for a payday loan in Nelsonia, Virginia is 36%, and the maximum fee is 20% of the loan amount.

Can I be charged additional fees or interest if I pay off my payday loan early in Nelsonia, Virginia?

No, Virginia law prohibits lenders from charging additional fees or interest if a borrower pays off a payday loan early. However, some lenders may charge a fee for early repayment, so it is important to carefully read the terms of your loan agreement before agreeing to any fees.