Payday Loans in Galloway, West Virginia

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No payday loan companies in Galloway, WV. Consider companies in other cities:

Company nameAddressZip codePhone number
Woodforest National Bank 40 Jett Lane, Elkins, WV 26241 +1 (304) 637 - 2838
PNC Mortgage 200 Lutz Ave, Martinsburg, WV 25404 +1 (304) 262 - 2785
WesBanco Bank 3265 Main St, Weirton, WV 26062 +1 (304) 797 - 8060
United States Postal Service 3400 University Ave, Morgantown, WV 26505 +1 (800) 275 - 8777
Premier Bank 700 Elk St, Gassaway, WV 26624 +1 (304) 364 - 5138
C & J Trades 1500 W Pike St, Clarksburg, WV 26301 +1 (304) 622 - 1021
Raymond James Financial Services 101 5th Ave, Huntington, WV 25701 +1 (304) 522 - 4580
Chase Bank 608 Hendricks St, Wayne, WV 25570 +1 (304) 272 - 3121
Huntington Bank 1226 W Main St, Bridgeport, WV 26330 +1 (304) 842 - 6955
CCMH Fed Credit Union 800 Garfield Ave, Parkersburg, WV 26101 +1 (304) 424 - 2255

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Galloway, WV, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in Charleston, WV, Emergency Loan in Huntington, WV, Payday Loans in Morgantown, WV and Payday Loans in Parkersburg, WV. 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 Galloway, WV.

Payday Loans Available in Galloway, WV By The Following ZIP Codes:

26349

Are Payday Loans Legal In Galloway, West Virginia?

Payday Lending is Prohibited in West Virginia

West Virginia Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Galloway, WV payday loan calculator

Understanding Payday Loans in Galloway, West Virginia

Payday loans can be a quick solution for many individuals seeking a short-term financial fix, but they are illegal and prohibited in the state of West Virginia. This is because state legislators have identified the predatory nature of these loans and their impact on vulnerable individuals seeking urgent financial aid.

Despite the ban on payday loans in West Virginia, there is always the temptation to turn to this alternative form of lending in the midst of a financial crisis, but there are alternative options that can help that avoid the pitfalls of payday lending.

Why are Payday Loans prohibited in West Virginia?

In 2006, West Virginia outlawed payday loans to protect consumers from the predatory nature of payday lending. The high-interest rates associated with these loans can have a devastating impact on low-income individuals and families, trapping them in a never-ending cycle of debt.

Before the ban, individuals who were struggling financially might have taken out multiple loans to keep them afloat. This left people burdened with enormous debt that they were unable to repay, creating a vicious cycle that ultimately led to bankruptcy or additional financial struggles.
In West Virginia, payday lenders were charging exorbitant annual rates of up to 300% or more, which quickly became unsustainable for borrowers and resulted in financial distress.

Alternative Options to Payday Loans in West Virginia

While payday loans are not an option in West Virginia, there are alternative options for individuals seeking quick financial assistance. Here are some alternatives:

  • Personal loans: Personal loans are low-interest, unsecured loans that can be a great option for individuals with good credit. You can use personal loans to consolidate high-interest debt, pay medical bills, or cover emergency expenses.
  • Credit Union loans: Credit Union loans are another alternative to payday loans. Rates and fees are generally lower compared to banks and other traditional lenders. Credit Unions also offer various types of loans such as signature loans, personal loans, and small-dollar credit builder loans. These loans are perfect for emergencies.
  • Credit cards: Credit cards offer an excellent solution for short-term financial emergencies, especially if you’re able to secure a low-interest card. Using a credit card can be a less burdensome strategy if you are trying to avoid accruing debt.

Why Use TheGuaranteedLoans?

TheGuaranteedLoans is not a direct lender. We provide a convenient, one-stop platform for individuals seeking personal loans and other forms of credit. We connect borrowers with lenders who cater to their specific financial needs, situation, and credit score. By using our online form, our lenders will compete for your business, saving you time and money. Applying for a loan on our platform is private, secure, and free, providing flexibility and convenience for anyone in need of financial assistance.

Interesting Facts and Statistics about Payday Loans in Galloway, West Virginia

  • According to the Center for Responsible Lending, payday loans cost American families over $4.1 billion in high-interest fees yearly.
  • The Federal Reserve Bank of St. Louis reports that 58% of payday loan borrowers have difficulty paying their monthly bills.
  • In the Center for Responsible Lending’s report on payday lending, they cite that “The average payday loan borrower is indebted for five months out of the year and spends an average of $520 in fees to repeatedly borrow $375.”
  • According to the National Conference of State Legislatures, 12 million Americans turn to payday loans each year for financial assistance.

Apply Now

Looking for a personal loan or other quick fix? TheGuaranteedLoans is the perfect platform for you. Fill out our online form to receive quotes from lenders that match your specific criteria. Our application process is free, secure, and private, making it the ideal place to find a loan that works for you.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Galloway, West Virginia?

It is illegal for lenders to offer payday loans in Galloway, West Virginia, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Galloway, West Virginia?

If you have already taken out a payday loan in Galloway, West Virginia, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.

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