Payday Loans in Occoquan, Virginia

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

Company nameAddressZip codePhone number
The Freedom Bank of Virginia 502 Maple Ave W, Vienna, VA 22180 +1 (703) 667 - 4170
Carter Bank & Trust 1082 Cedar Valley Dr, Cedar Bluff, VA 24609 +1 (276) 596 - 9111
Nationwide Money Services 136 Cedar Grove Rd, Ruckersville, VA 22968
Fort Belvoir 9500 Pohick Rd, Fort Belvoir, VA 22060 +1 (703) 806 - 4892
ACE Cash Express 3819 Kecoughtan Rd, Hampton, VA 23669 +1 (757) 728 - 1366
BB&T Mortgage 123 S Main St, Amherst, VA 24521
Farm Credit of the Virginias 161 S Main St, Halifax, VA 24558 +1 (434) 476 - 6533
Urban Personal Loans 14249 Centreville Square, Centreville, VA 20121 +1 (571) 601 - 4473
Cash To Payday 103A Stonewall Ct, Stuart, VA 24171 +1 (276) 694 - 8900
Beacon Credit Union 2101 Forest Ave, Buena Vista, VA 24416 +1 (434) 237 - 1566

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Occoquan, VA, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Annandale, VA, No Credit Check Loans in Arlington, VA, Payday Loans in Ashburn, VA, Payday Loans in Blacksburg, VA, Payday Loans in Burke, VA, Payday Loans in Centreville, VA, Payday Loans in Charlottesville, VA and Payday Loans in Chesapeake, 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 Occoquan, VA.

Beautiful sights of Occoquan, VA

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

22125

Are Payday Loans Legal In Occoquan, 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

Occoquan, VA payday loan calculator

Payday Loans in Occoquan, Virginia: Everything You Need to Know

Payday loans have become a popular financing option for people in need of quick cash in Occoquan, Virginia. These short-term loans allow borrowers to get the money they need to cover unexpected expenses or make ends meet before their next paycheck. But with high interest rates and fees, payday loans can also quickly become a financial burden if not used responsibly.

Here’s what you need to know about payday loans in Occoquan, Virginia.

How Payday Loans Work in Occoquan, Virginia

Payday loans are legal and regulated in Virginia. To get a payday loan in Occoquan, borrowers must be at least 18 years old with a valid government-issued ID, a steady source of income, and a checking account. The loan amount can range from $100 to $500, and the loan term is usually 14 days to 30 days.

When applying for a payday loan, borrowers will provide the lender with a post-dated check for the loan amount plus fees and interest. On the due date, the lender will deposit the check to get their payment.

The Pros and Cons of Payday Loans in Occoquan, Virginia

There are several benefits and drawbacks to consider when taking out a payday loan in Occoquan, Virginia.

Pros

  • Quick access to cash: Payday loans can provide fast cash for unexpected expenses.
  • No credit check: Payday lenders do not typically require a credit check, so borrowers with poor credit may still qualify.
  • No collateral: Payday loans are unsecured, which means borrowers do not have to put up collateral to secure the loan.

Cons

  • High interest rates and fees: Payday loans have high fees and interest rates, which can result in additional financial burden if not paid back on time.
  • Short repayment period: Borrowers must pay back the loan plus fees and interest within 14 days to 30 days, which can be difficult for some borrowers to manage.
  • Risk of debt cycle: If borrowers cannot repay the loan on time, they may be tempted to take out another payday loan to repay the first one, creating a cycle of debt.

Interesting Facts and Statistics About Payday Loans in Occoquan, Virginia

  • In 2019, Virginia payday lenders made $1.3 billion in loans, with borrowers paying back more than $1.5 billion.
  • In 2018, the Virginia Attorney General’s Office received more than 1,800 complaints about payday loans.
  • According to a 2019 study by Pew Charitable Trusts, the average payday loan borrower in Virginia takes out eight loans per year, with an average loan amount of $375.

Apply Now with TheGuaranteedLoans

If you’re in need of a payday loan in Occoquan, Virginia, TheGuaranteedLoans can help. As a connector service, we connect borrowers with potential lenders who may be able to provide the funds they need.

To get started, fill out our online application with your basic information and loan request. We’ll review your application and connect you with a lender who may be able to provide a loan that meets your needs.

Remember, payday loans can be a useful tool for managing unexpected expenses, but they should be used responsibly to avoid financial hardship.

F.A.Q.

Are there any alternatives to payday loans in Occoquan, Virginia?

Yes, there are several alternatives to payday loans in Occoquan, Virginia, including credit unions, community development financial institutions, and small dollar loans from banks or credit card companies.

Are there any protections for military members in Occoquan, Virginia regarding payday loans?

Yes, Virginia law provides additional protections for military members and their dependents regarding payday loans. Lenders are prohibited from making a payday loan to a military member or dependent unless the loan has a written agreement that allows the borrower to terminate the loan without penalty.