Payday Loans in Rapidan, Virginia

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

Company nameAddressZip codePhone number
Fast Auto Loans, Inc. 4320 Virginia Beach Blvd, Virginia Beach, VA 23452 +1 (757) 340 - 7040
Old Dominion National Bank 110 Scottsville Rd, Scottsville, VA 24590 +1 (434) 286 - 4284
Check Into Cash 113 B Lew Dewitt Blvd, Waynesboro, VA 22980 +1 (540) 942 - 2704
Check City 3002 Boulevard, Colonial Heights, VA 23834 +1 (804) 520 - 0250
First Choice Cash Advance 1835 Euclid Ave, Bristol, VA 24201 +1 (276) 466 - 2784
TitleMax Title Loans 20 E Belt Blvd, Richmond, VA 23224 +1 (804) 291 - 9245
PenFed Credit Union 9651 Gunston Rd, Fort Belvoir, VA 22060 +1 (800) 247 - 5626
Highlands Community Bank 1501 Main St, Clifton Forge, VA 24422 +1 (540) 862 - 2265
SunTrust 2250 S Pleasant Valley Rd, Winchester, VA 22601 +1 (540) 773 - 6207
Fulton Bank 95 Community St, Charlottesville, VA 22911 +1 (434) 218 - 6810

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Rapidan, VA, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Arlington, VA, Payday Loans in Ashburn, VA, Guaranteed Loans in Blacksburg, VA, Emergency Loan in Burke, VA, 24-Hour Loan in Centreville, VA, Payday Loans in Charlottesville, VA, Payday Loans in Chesapeake, VA and Payday Loans in Danville, 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 Rapidan, VA.

Are Payday Loans Legal In Rapidan, 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

Rapidan, VA payday loan calculator

If you live in Rapidan, Virginia, and find yourself in need of quick cash, you may have considered a payday loan. Payday loans are legal in Virginia, and if used responsibly, they can be a helpful financial tool in times of unexpected expenses or emergencies. However, it’s important to understand the potential risks and drawbacks of payday loans before you commit.

What is a Payday Loan?

A payday loan is a short-term loan that is typically due on your next payday. These loans usually have high interest rates and fees, and are usually for smaller amounts of money. In Virginia, payday lenders are allowed to lend up to $500 per loan. To qualify, you must have a regular income and a valid checking account.

How Do Payday Loans Work?

When you take out a payday loan, you will typically write a post-dated check for the loan amount plus fees, or give the lender access to your checking account. On your next payday, the lender will cash the check or withdraw the funds from your account to pay off the loan.

  • The loan term is usually two weeks or less
  • The interest rate can be as high as 36% annual percentage rate (APR)
  • Lenders can charge a fee of up to 20% of the loan amount
  • If you can’t pay back the loan on time, you may be able to roll it over for an additional fee

What Are the Risks of Payday Loans?

While payday loans can provide quick cash, they also come with significant risks. The high interest rates and fees can make it difficult to pay the loan back on time, leading to a cycle of debt. In Virginia, if you can’t pay back your loan on time, the lender may charge a fee of up to $25 and begin collection proceedings, including lawsuits and wage garnishment.

Payday loans can also have a negative impact on your credit score if you default on the loan. Additionally, many payday lenders have been accused of predatory lending practices, targeting low-income and vulnerable individuals with high-interest loans that they cannot afford to pay back.

What Are the Alternatives to Payday Loans?

If you’re in need of quick cash, there are alternatives to payday loans that may be a better fit for your financial situation. You can explore options such as:

  • Personal loans from a bank or credit union
  • Credit card cash advances
  • Selling unused items or taking on a side gig to earn extra money
  • Borrowing from friends or family

It’s important to evaluate all of your options and choose the one that is right for your unique financial situation.

Interesting Facts and Statistics

  • The average payday loan in Virginia is $392, with an average fee of $60
  • According to a study by The Pew Charitable Trusts, 12 million Americans use payday loans each year
  • In Virginia, 83% of payday loans are taken out within 2 weeks of paying off a previous payday loan
  • Payday lenders in Virginia reported more than $1 billion in loan volume in 2019

Apply Now

If you’ve weighed your options and decide that a payday loan is the best choice for your financial needs, TheGuaranteedLoans can help connect you with potential lenders. Fill out our online application to get started. Keep in mind, we are a connector service and not a direct lender. We work with a network of lenders, and we will facilitate your connection with a lender that best suits your needs.

Remember, payday loans should be used responsibly and only in cases of emergency. Evaluate all of your options and choose the one that is right for your unique financial situation.

F.A.Q.

What are the consequences for defaulting on a payday loan in Rapidan, Virginia?

If you default on a payday loan in Rapidan, Virginia, the lender may charge additional fees and interest, and may pursue legal action to recover the outstanding debt. Defaulting on a payday loan can also damage your credit score and make it difficult to obtain future loans.

Can I renew or rollover my payday loan in Rapidan, Virginia?

No, Virginia law does not allow for the renewal or rollover of payday loans. Borrowers are only allowed to have one outstanding payday loan at a time.