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Payday Loans in West Virginia


Though the estimated living cost in West Virginia is relatively lower compared to the national average, many West Virginians still come across situations when they need fast cash to make it until the next payday. Even though payday lenders are not allowed to operate in West Virginia, they can help you handle unexpected expenses and get your finances back on track.

What does Payday Lending Look like in West Virginia? 

Traditional payday lending is typically prohibited under West Virginia law. However, if you require such a small dollar loan, you are not short of luck though. Residents of West Virginia may still go for quick cash lenders located in states where they are legally authorized to operate. So residents of West Virginia cities and towns, including Charleston, Huntington, Morgantown, Kanawha Falls, Saint Albans, and Beckley, may still have options to get fast cash when a financial emergency happens.

Advantages of Payday Loans Online

Payday loans are easy to handle and very convenient. You can apply for a cash loan at any time in the comfort of your home and get directly into your bank account. 

Earlier, taking out a loan was a very time-consuming task. But today, online lenders approve the cash loans almost immediately, even sometimes on the same day of your credit request.  Therefore, applying for a payday loan is very quick and easy as everything is accessible online.

A payday loan assures the security and confidentiality of its applicant during the loan approval. The lender never shares your information with other lenders or third-party companies. They keep your cash loan and personal banking information safe.
To apply for a payday loan, you must fulfill a few requirements for the process of a cash loan. Plus, you don't necessarily have to pass through a traditional credit check where your credit score is a key identifier to determine creditworthiness. 

How does the Lending Process Work?

The procedure of applying for payday loans through our website is entirely safe and secure. Our encrypted connection ensures that your application is delivered to our partners without the risk of third-party interception. We take pleasure in our easy-to-follow application procedure. The majority of applicants are approved if they meet the following criteria:

  1. Being at least 18 years of age
  2. Being a US citizen or permanent resident
  3. Having an active bank account
  4. Having a stable income source
  5. Having a valid phone number and email address
What Makes Us Different?

We endeavor to repair the reputation of cash advances, payday loans, and other short-term credit tools. At loanplaces.org, we strongly believe that everyone, regardless of credit history, should have access to financial solutions that can assist them in dealing with unanticipated costs. Unfortunately, the image of cash loans has been tainted by untrustworthy lenders that prey on the financially weak.
If you decide to take out a payday loan, we can help you in the fastest way possible. We are not a payday lender; instead, we connect you with the best payday loan lenders to meet your needs, allowing you to make a decision that fits you best.

Attention

As a result of changes CFPB has made, from July 2020 the lenders don't have to check if the borrower is able to repay the loan. Thus, we encourage you to be careful and make sure you can afford the loan before applying.


Regulations of Payday Loans in West Virginia
Status     Prohibited
Annual Percentage Rate (APR)     N/A
Minimum Loan Amount     N/A
Maximum Loan Amount     N/A
Minimum Loan Term     N/A
Maximum Loan Term     N/A
Number of Rollovers Allowed     N/A
Finance Charges     N/A
Cooling-off Period     N/A

Useful Sources

Real interest rate map /PDF/ of payday loans in the United States calculated on a typical loan.

Payday loans regulation /PDF/ by state 2020.

The official website of the West Virginia Division of Financial Institutions ​reads that “Payday Lenders” are generally prohibited within this state.
The Consumer Financial Protection Bureau (CFPB) makes the financial marketplace work more effectively and educates consumers to help them take more control over their financial lives. Click here to learn more.
In fact, there is a ban on payday cash advances prohibiting businesses functioning in the territory of West Virginia to provide customers short-term payday loans according to “W. Va. Code 46A-4-107 and 32A-3-1 et seq.


[ Updated on 14-Oct-2021, 23:08 ]

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