Payday Loans in Nottoway, Virginia

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

Company nameAddressZip codePhone number
Mariner Finance 210 Arthur Way, Newport News, VA 23602 +1 (757) 969 - 6400
Bank of America with Drive-thru ATM 2200 Langhorne Rd, Lynchburg, VA 24501 +1 (434) 847 - 0199
1st Pawn 34 5th St NE, Pulaski, VA 24301 +1 (540) 980 - 4687
R 2 Cash 17867 Forest Rd, Forest, VA 24551 +1 (434) 385 - 1321
Advance America 1657 E Market St #3, Harrisonburg, VA 22801 +1 (540) 432 - 0656
Lendmark Financial Services LLC 12551 Jefferson Ave Suite 217, Newport News, VA 23602 +1 (757) 269 - 9146
E Z Checks Cashed 13251 Occoquan Rd, Woodbridge, VA 22191 +1 (703) 494 - 2122
Colonial Farm Credit 135 Queen St, Tappahannock, VA 22560 +1 (804) 443 - 3351
Loanmax Title Loans 1224 W Broad St, Waynesboro, VA 22980 +1 (540) 949 - 9432
Partners 1st Federal Credit Union 202 S Main St, Gordonsville, VA 22942 +1 (540) 832 - 0004

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Nottoway, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Suffolk, VA, Payday Loans in Virginia Beach, VA, Payday Loans in Alexandria, VA, Emergency Loan in Annandale, VA, Payday Loans in Arlington, VA, Payday Loan for Ashburn, VA, Bad Credit Loans in Blacksburg, VA and Payday Loans in Burke, 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 Nottoway, VA.

Are Payday Loans Legal In Nottoway, 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

Nottoway, VA payday loan calculator

Introduction

Are you facing a financial emergency in Nottoway, Virginia, and need quick cash? Payday loans might be an option for you. These short-term loans could help you meet your immediate financial needs. However, it’s crucial to understand the terms and rules before applying for a payday loan. This article will guide you through the ins and outs of payday loans in Nottoway, Virginia.

What are payday loans?

A payday loan is a small, short-term loan offered by lenders, and it is usually due on the borrower’s next payday. Typically, payday loans range from $100 to $500, but the loan amount can vary depending on the state laws and the lender’s discretion.

Payday loans may seem like a quick and convenient financial solution, but they come with high-interest rates and fees, which can make it difficult for borrowers to repay the loan on time.

Payday loan regulations in Virginia

In Virginia, payday loans are legal, and the state has specific laws to regulate them. The Virginia State Corporation Commission regulates payday lenders in the state.

According to the law, the maximum amount you can borrow in Virginia is $500, and the loan term must be between seven and thirty-one days. Virginia law also sets the maximum interest rate for payday loans at 36% APR plus a $5 verification fee for the first $30 borrowed and an additional $5 fee for every additional $30 borrowed.

It’s essential to note that the Virginia State Corporation Commission does not provide protections for borrowers from default or rollover charges, which could make it challenging for borrowers to repay the loan on time. That’s why it’s essential to understand the terms and conditions of the loan before applying.

Benefits and drawbacks of payday loans

Payday loans are short-term loans that can help you bridge the gap between paychecks. Here are some of the benefits and drawbacks of payday loans:

  • Pros:
  • Quick and easy access to cash
  • No credit check required
  • Short application process
  • Some lenders may offer flexible repayment options
  • Cons:
  • High-interest rates and fees
  • Short repayment terms may make it tough to repay the loan on time
  • Debt cycle trap – borrowers may need to take out another loan to repay the existing one

Interesting Facts and Statistics about Payday Loans in Nottoway, Virginia

  • According to the Pew Charitable Trusts, the average payday loan borrower in Virginia takes out 5 loans in a row and spends an average of $600 on interest payments to borrow $400.
  • The Center for Responsible Lending estimated that payday loans cost Virginians over $94 million in fees and interest in 2019.
  • In 2018, the Virginia State Corporation Commission received over 16,000 complaints about payday loans.

The application process

The application process for payday loans is typically straightforward and can be completed online. Here’s what you need to apply:

  • Your Identification card
  • Social Security Number or Tax ID Number
  • Proof of income
  • Checking account details
  • Contact information

Once you submit your application, the lender may review it and give you a loan decision within minutes. If you are approved, the funds will be deposited into your bank account within 24 hours or the next business day.

Apply Now

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Our application process is simple and easy to use. Fill out our online application form, and we will forward your information to a potential lender who may have loan options that fit your needs. There’s no need to visit multiple lenders’ websites when you can apply through our platform.

It’s essential to note that TheGuaranteedLoans will not make credit decisions or lend money. We are not a direct lender, and we do not endorse any specific lender or loan product.

Conclusion

Payday loans can be a quick fix to your financial emergency, but it’s essential to take time to understand the terms and conditions before you apply for one. Remember, payday loans come with high-interest rates and fees, which can make it challenging for you to repay the loan on time. Always compare offers from multiple lenders to find the best loan product for your needs.

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 Nottoway, 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 Nottoway, 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.