West Virginia Payday Loans (WV)

WestVirginiaFlagWest Virginia is one of the few states with stricter laws on payday loans. As a result, borrowers must be highly informed when seeking short-term borrowings within the area. We can offer comprehensive information on WV payday loans and what consumers should expect of the transaction.

For laws on other states, please browse the main page. Questions and feedbacks are always welcomed at paydayloansusa.biz

West Virginia Payday Loan Process

The process of applying for payday loans in West Virginia is no different than with other states. Borrowers are required to meet certain conditions set by the lender before an agreement is met. Individuals must all qualify for the following:

  • 18 years of age or more
  • Currently employed
  • Meets minimum salary requirements
  • Owns a savings or checking account

Due to the special situation of WV, the payday loan process may vary. Some lenders partner with banks to process electronic billings as payment method. WV also enforces a strict small loan limit for all lenders. It’s usually best for borrowers to ask in advance how the lender processes their loan, given the legal situation in the state.

West Virginia Payday Loan Laws and Regulations

West Virginia currently prohibits payday loans within the state. Authorities are enforcing a small loan cap of 31% every year applicable to loans no more than $2,000.

Today, the best option for WV residents is to get payday loans out of state. There are currently websites operating in different states that cater to WV residents. The process is entirely legal and gives borrowers the chance to obtain short-term loans even in states that prohibit it.

West Virginia Consumer Protection

Problems with short-term loans in West Virginia are handled by the Office of West Virginia Attorney General. The office is located at the Consumer Protection Division 812 Quarrier Street, 4th floor Charleston WV 25301

Due to the sensitivity of the payday loan situation in Virginia, borrowers are advised to always seek help via regulators before pursuing cash advance loans within the area. Understand that borrowers licensed under different states are bound to follow the laws set by the given state.

The regulators can also be contacted through the internet via their email address. With payday loans not freely allowed in the state, consumers are doubly advised to be clear with the terms and conditions of any payday loan they choose to enter.

West Virginia Payday Loan Alternatives

Residents of West Virginia have several alternatives should they have a hard time finding a payday loan lender. First, there’s the possibility of simply using a credit card to pay off the bills. Some borrowers can also pawn off products or sell them through eBay in order to get quick cash. Selling assets can also be the answer, especially if you’re no longer using the item. Bank loans are ideal for large cash flow problems. In most cases, you can simply ask for some cash from your friends or family. They don’t come with interest rates and gives you the luxury of paying when you have the chance.

Map of  West Virginia

mapofWestVirginia

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