Payday Loans in Maybeury, West Virginia

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

Company nameAddressZip codePhone number
Raymond James Financial Services 2107 Pike St, Parkersburg, WV 26101 +1 (304) 420 - 2812
BB&T 457 Craigsville Rd, Craigsville, WV 26205 +1 (304) 742 - 5405
Famous Jewelry & Loan 700 N Mildred St, Ranson, WV 25438 +1 (304) 728 - 1335
Harrison County Bank 1215 Johnson Ave, Bridgeport, WV 26330 +1 (304) 842 - 0400
Loomis Armored US RR 5 Box 192, Bridgeport, WV 26330 +1 (304) 842 - 0301
Chessie Federal Credit Union 1015 Florida Ave, Keyser, WV 26726 +1 (304) 788 - 0161
United Bank 2004 W Webster Rd, Summersville, WV 26651 +1 (304) 872 - 5434
BB&T 5638 US-60, Huntington, WV 25705 +1 (304) 736 - 2526
Payday Loans Chelyan 200 WV-61, Cabin Creek, WV 25035 +1 (304) 595 - 6782
Cash-N More Inc 335 N Main St, New Martinsville, WV 26155 +1 (304) 455 - 3031

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Maybeury, WV, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Charleston, WV, Payday Loans 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 Maybeury, WV.

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

24861

Are Payday Loans Legal In Maybeury, 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

Maybeury, WV payday loan calculator

While payday loans are a popular option throughout the country, it is crucial to note that they are prohibited in West Virginia. This makes it illegal for lenders to operate or offer payday loans to residents in this state. Therefore, residents in Maybeury, West Virginia, cannot access payday loan services.

The Prohibition of Payday Loans in West Virginia

The law in West Virginia expressly states that payday loans are unacceptable. The usury legislation of the state prohibits charging higher interest rates for such loans than 31 percent annually. Payday loans commonly have much higher interest rates and incur fees than personal loans. While they may appear to be a quick fix to short-term financial issues, they can get expensive and difficult to repay in the long term.

The penalties for payday lending in West Virginia are stringent regardless of whether the lender is licensed to work in the state. The law imposes a fine of up to $5,000 for every violation and one year of imprisonment, such as jail or prison time. State regulators aggressively monitor lending activity within the state, and they have a dedicated hotline that residents can use to report unlawful activity.

Alternative Loan Options in Maybeury, West Virginia

Without having access to payday loans, residents of Maybeury might opt to borrow personal loans from banks or credit unions to take care of their short-term financial requirements. Loans that do not need a credit check or similar standard loan formalities can be expensive, but they provide a lower interest rate and payment terms that can be more competitive. While the approval process for these loans might take longer, it can save borrowers from costly and long-term debt cycles.

Another available alternative is a cash advance in the form of a paycheck or credit card loan. However, they might not be the best options, as they also have high interest rates and fees. Moreover, they can negatively affect the borrower’s credit scores if not paid on time.

Facts and Statistics about Payday Loans in West Virginia

  • West Virginia prohibits payday lending, but online payday lenders target the state residents. Hence, borrowers in Maybeury, West Virginia, should be wary of online payday lenders.
  • Between 2010 and 2012, around 300,000 payday loans were issued in West Virginia every year, with an average APR of 352 percent for the loans. This led to many West Virginia citizens getting trapped in debt cycles and facing severe financial difficulties.

Apply Now

TheGuaranteedLoans is a connector service and does not engage in direct lending. We offer a platform that can help borrowers connect with suitable lenders based on the information they provide in our online application form. Our service is simple, and you can get the money you need in no time. Apply now and get the right loan option based on your financial profile.

In conclusion, payday loans remain prohibited in West Virginia, including Maybeury. While some residents of Maybeury might consider looking for payday loans, they could face costly penalties and legal retaliation. Instead, alternatives such as personal loans or cash advances could be better options, but it is advisable to consult with a financial advisor to choose the best plan. Our platform can connect you with lenders that can provide you better loan options that suit your financial situation. Apply now!

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Maybeury, West Virginia?

No, because payday loans are illegal in Maybeury, West Virginia, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Maybeury, West Virginia?

Yes, the state of West Virginia has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.

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