Payday Loans in Thurmond, West Virginia

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

Company nameAddressZip codePhone number
Pioneer West Virginia Federal Credit Union 1316 Kanawha Blvd E, Charleston, WV 25301 +1 (304) 348 - 6648
John Ranson - Raymond James 4112 MacCorkle Ave SE, Charleston, WV 25304 +1 (304) 926 - 2609
Jackson Hewitt Tax Service 200 Academy Dr, Ripley, WV 25271 +1 (304) 377 - 7111
AFC Automotive Finance Corp. 5546 Benedum Dr, Shinnston, WV 26431 +1 (304) 592 - 2290
BB&T 98 Academy Dr, Ripley, WV 25271 +1 (304) 372 - 8431
Huntington Bank 1500 Grand Central Ave #102, Vienna, WV 26105 +1 (304) 295 - 6500
WesBanco Bank 140 W Main St, Clarksburg, WV 26301 +1 (304) 623 - 1400
BB&T 7 S Washington St, Berkeley Springs, WV 25411 +1 (304) 258 - 4596
Bank of Mingo Mate St & Bridge St, Matewan, WV 25678 +1 (304) 426 - 4000
Mercer County Teachers Federal Credit Union 258 Blue Prince Rd, Bluefield, WV 24701 +1 (304) 323 - 3732

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Thurmond, WV, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Charleston, WV, Payday Loan Without a Credit Check in Huntington, WV, Payday Loans in Morgantown, WV and Payday Loan Without a Credit Check 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 Thurmond, WV.

Beautiful sights of Thurmond, WV

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

25936

Are Payday Loans Legal In Thurmond, 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

Thurmond, WV payday loan calculator

Payday Loans in Thurmond, West Virginia: What You Need to Know

Payday loans are a popular form of short-term lending that allows borrowers to get access to cash quickly. However, in West Virginia, payday loans are prohibited, and there are no storefront or online lenders catering to Thurmond residents. This is because West Virginia has some of the strictest lending regulations in the country, designed to protect consumers from predatory lending practices.

What Are Payday Loans?

Payday loans are small-dollar loans typically due on the borrower’s next payday. They are marketed to those who need cash quickly, often with low or no credit scores. However, the loans come with very high interest rates and fees.

In West Virginia, payday loans are illegal, and there are no lenders in Thurmond or the surrounding areas that offer these loans. Instead, consumers can turn to other forms of short-term lending, such as installment loans or title loans.

Installment Loans

Installment loans are similar to payday loans in that they can be obtained quickly and often don’t require credit checks. However, they are typically paid back over a longer period of time and have lower interest rates.

While some states heavily regulate installment loans, West Virginia does not. However, lenders are restricted from charging more than 31% APR on loan amounts under $2,000 and 27% APR on loan amounts over $2,000.

Title Loans

Title loans are another type of short-term loan that uses the borrower’s vehicle as collateral. The lender places a lien on the vehicle, and the borrower must repay the loan, plus interest and fees, to get their title back.

While title loans are legal in West Virginia, they are heavily regulated. Lenders are limited to charging interest rates of 18% per month on the first $2,000 of the loan, followed by 15% per month on any amount above $2,000.

Why Are Payday Loans Prohibited in West Virginia?

West Virginia lawmakers believe that payday loans target low-income residents who are struggling financially, charging high-interest rates and fees that exacerbate their financial hardship. The state’s attorney general has been vocal about his opposition to payday lending and has actively pursued legal action against lenders operating in the state illegally.

Currently, there are no storefront or online lenders in Thurmond or West Virginia that offer payday loans. Consumers should be wary of lenders operating illegally and should only obtain loans from reputable lenders.

Interesting Facts and Statistics

  • West Virginia is one of 15 states that prohibit payday lending.
  • The average annual percentage rate (APR) for a payday loan in the US is 391%.
  • Payday loans often trap borrowers in a cycle of debt: the average borrower takes out eight loans of $375 each per year and spends $520 on interest and fees.

Apply Now with TheGuaranteedLoans

TheGuaranteedLoans is a lender connection service that can help you find reputable lenders who offer installment loans or title loans in Thurmond, West Virginia. We work with a network of lenders who are licensed and comply with state and federal regulations. Our process is fast, easy, and secure, and you can fill out an online application in minutes.

Remember, we are not a direct lender, but we will facilitate your connection with potential lenders who can meet your borrowing needs.

If you need cash quickly in Thurmond, West Virginia, consider working with TheGuaranteedLoans. Apply now and get connected with a lender today!

F.A.Q.

What are the penalties for offering or taking out a payday loan in Thurmond, West Virginia?

Offering or taking out a payday loan in Thurmond, West Virginia is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Thurmond, West Virginia?

No, there are no exceptions to the payday loan prohibition in Thurmond, West Virginia.

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