Each state has its own laws covering the amount of money you can borrow, how long a borrower has to repay a loan, and the number of times the borrower can roll over the loan if he cannot repay it by the due date. In West Virginia, pay day loans are illegal. This does not mean it is impossible to obtain one. For this reason, lenders refer to them as small loans. They are regulated as if they were standard small loans. West Virginia borrowers can also obtain pay day loans over the internet. The maximum amount a person can borrow is $2000.00 and the term to pay off a loan is negotiable. The maximum finance fee is 29%. The highest interest rate allowed is 31%.
West Virginia Pay Day Loan Laws
Maximum Loan Amount: $2000.00
Maximum Interest Rate: 31%
Annual Percentage Rate on 14-day $100 Loan: 129%
Minimum Payoff Time: negotiable
Extensions Allowed: unlimited
Top 5 West Virginia Payday Loan Companies
771 Beverly Pike
Elkins, WV
(304) 636-6848
firstamericancashadvance.com
First American Cash Advance is an extremely customer service oriented establishment that understands why people may require short-term loans. This company uses state of the art encryption to keep all of your personal information secure no matter how far along you are in the loan process itself. This service offers West Virginians a huge range of dollar amounts up to $2000 if the qualifications are met and the time to repay the loan is negotiable.
2820 Pennsylvania Avenue
Weirton, WV
(304) 723-2944
911forpayday.com
Scher Cash is located in Weirton, West Virginia but utilizes an easy to use website with an express application form so you can get cash quickly. This company doesn’t do credit checks and you simply need to meet the requirements to be eligible for a loan. These requirements are: currently receiving regular income, make $1000/month, be 18 and a US citizen and have a checking or savings account.
Myonlinepayday.com
Web-based company
Web-based company
The qualifications for a loan through Myonlinepayday are very basic. You must be a United States citizen, and at least eighteen years old. You need an active savings or checking account. Your regular monthly income must be no less than $1000. Your employment can be either full-time or part-time, as long as you meet the income requirement.
Online Only For WV
acecashexpress.com
Ace Cash Express is one of the more prolific payday loan companies in the US. They have offices almost everywhere. Unfortunately, they don’t have a physical office in West Virginia so you will have to use their official website. This can be beneficial if you live in a rural area or simply don’t like to spend a lot of time driving around in the first place. You can fill out the application online, speak to a representative then all you have to do is wait for your cash to be deposited into your account.
Online Only For WV
cashamerica.com
Cash Land is part of the Cash America network that provides many types of service. Their physical offices are pawn shops, payday loan centers, check cashers and small retail stores all rolled into one. For West Virginia residents, the only payday loan option is to visit their official website and use their online quick application form. This works exactly the same way as if you were to visit them in person and is completely safe and secure.