Payday Loans in West Virginia

Payday Loans in West Virginia

Need Money Fast?

A payday loan is a short-term finance option with strict repayment terms. Payday loans are usually due on the next payday. Because West Virginia’s banks and credit unions are illegal, West Virginia residents may have difficulty getting a payday loan if they need cash for emergencies.

When life keeps throwing you curveballs, how do you handle them? There are few to no options available to you when you require cash now. You can’t get an advance from a bank, and payday loans are illegal in your state. Perhaps the only option you have is a loan shark. Or is it?

Best payday loans in West Virginia

Because payday advances are illegal in West Virginia, more than enough companies offer installment or online options to customers with credit issues. We have compiled a list of the five best West Virginia online platforms for credit. For more information about each of them, read their descriptions.


paydaysay-payday-loans Standard West Virginia payday loan online is prohibited, but you can still apply online via PayDaySay, and they will find alternative options for you for free! Furthermore, they have a huge collection of lenders who are willing to lend money to anyone without checking their credit history.  With online lending, you can borrow $100 to $5,000 and receive the money within 24 hours. Rates and terms will depend on the specific borrowing terms of the lender you are matched with. Getting cash is as simple as filling out an application and supplying basic information about yourself: your name, employer, and financial status. You will then receive offers from creditors, including loan amounts, repayment terms, and interest rates.


moneylion loans There is no doubt that MoneyLion can help you improve your credit score and get fast cash by providing you with credit builder options. This feature is part of Credit Builder Plus, which also offers premium features such as the ability to track your credit, manage your investments, and apply for cash advances as part of the membership. Up to $1,000 can be borrowed through an installment advance at a 31% APR. Upon receiving the funds, you may use some or all of them immediately. Reserve funds are placed in an interest-bearing account until the amount is fully paid off. When you pay off what you have borrowed, the rest of the money is yours. Payment activity is reported to credit agencies by MoneyLion so that your credit history will be improved. Your payments will be automatically deducted from your checking account, so you won’t have to keep track of due dates. As a result of payments made on time, your credit score will improve dramatically.


Instacash An affiliate of Money Lion, Instacash is an option for those looking for up to a $250 advance. You can get money from here at 0% APR, with no hidden fees or credit checks. To access their benefits, you will have to pay a subscription fee of $20. There is a mobile app that can be downloaded by interested customers, allowing them to customize their profiles and link their checking accounts. As soon as you request the amount you would like to advance, they will deposit your cash advance proceeds right into your bank account as soon as possible. The app sets a $250 limit once you’ve signed up. The amount you need can be obtained in one click, and you will be able to pay it back with your next wages.


eagle Founded in 1994, Eagle is an independently owned company that has been in business for over 20 years. As a community-minded lender, they appear to be focused on serving their customers in a very customer-centric manner. In addition, their average branch manager has more than 20 years of experience in the lending industry, which allows them to offer credit to all kinds of customers. With regular monthly payments, they offer personal loans from $1,000 to $10,000. APR rates and finance terms depend on the amount and term duration selected. You will be notified of the decision after applying online or by phone in West Virginia. Documents typically include:

  • Driver’s License
  • Debit card
  • Car title if using a vehicle as collateral
  • Checking account statements
  • Proof of address

Advance America

Advance-America Advance America is an accredited company with national recognition that helps millions of people with their financial needs. They provide friendly and quick service to anyone in need of easy and quick financial services as a member of the Community Financial Services Association of America.   Apply from West Virginia online for a $200 to $1,000, 31% APR installment loan from Advance America. It’s easy to get the money you require right away, plus you have the option of repaying over a longer period of time if you wish. The amount and repayment terms of these types of credit are larger than online payday loans.

Payday loans in West Virginia are Illegal according to legislation. In spite of this, it is worth remembering that there are other options available to cover your urgent expenses, such as installment and personal advances. Although the law states that the amount and interest are capped at $2000, and 31% APR for anyone who does apply for a line of credit You may wonder if banks and credit unions have more relaxed regulations to help those in need of small amounts of cash if payday lending is not allowed in this state. The answer would be no. Nonetheless, internet payday lenders are still available to West Virginians. They operate in other states where payday lending is legal.

Why might you need West Virginia payday loans?

Most borrowers looking for extra money have good-paying jobs. Many of them may have had credit issues due to previous financial hardships; job loss, divorce, unexpected medical expenses, sudden income decrease, or perhaps just simple poor financial planning. Some of these individuals might not be able to get credit from traditional banks or credit card companies. Other customers simply like the convenience and ease of borrowing from companies that offer an instant cash boost.

Terms for payday loans in West Virginia

Payday loans are illegal in WV, but borrowers can still apply for personal or installment credit instead. There arefive states bordering West Virginia: Kentucky, Virginia, Ohio, Maryland, and Pennsylvania. If your chosen state allows payday lending, you can get a payday loan there instead. Your options are Kentucky, Virginia, and Ohio since they are illegal in Maryland and Pennsylvania or Maryland. However, lenders may be less willing to lend to borrowers living out of state because the collection is more difficult in practice. You can travel out of state by all means, but you can also use the internet to find a lender.

Loan Amounts

When it comes to deciding how much money you should borrow, the amount of the loan is one of the most important factors. This is not only because the amount you chose will cover your needed expenses, but also because of the terms of repayment you selected. In essence, the more you borrow, the more interest you will be charged and the more you will have to repay.

Loan Terms

Depending on the type of finance you have applied for, terms of credit can range from one week to one month to one year. However, most lenders set the due date on the date you receive your paycheck. The minimum repayment time is a good option to choose if you are not sure how long it will take you to repay. You will have to pay a higher interest rate the longer you use the lending service, so you will have to make sure to pay it back on time.  As you’re aware, the longer you borrow, the more you will have to pay back. But, if you’re not confident you can repay with the minimum term option, then it’s best to extend the term to an affordable amount. If you want to protect your credit history, it is better to pay a little extra than to damage it.

Loan Rates West Virginia

Payday loans online West Virginia state have a maximum annual rate of 31%. Generally, lenders don’t offer lower rates than this, and they typically offer higher rates. Borrowers should be aware that even though the contract APR does not exceed the maximum allowed, hidden fees increase the cost substantially.  A lender may charge you a subscription fee, service fee, early repayment fee, membership fee, and more. These extra charges will increase the amount borrowed, terms, and rates. Then the actual APR becomes much higher than the initial contact specified.  The terms and conditions of the service should be read carefully before you sign the dotted line. And you should always opt for the lowest interest rate possible and pay attention to any small print.

Pros and Cons of payday loans in West Virginia

Whilst there is no payday loan option for WV residents, the benefits of other types of credit, such as personal and investment finance options, make them a very popular product. But as with any money lending, they have their own advantages and disadvantages to consider:

  • West Virginia loans are actually more affordable than other states who offer payday lending. This is because of the APR capped rates of 31%
  • Unsecured lending means your home cannot be refinanced if you’re unable to repay
  • Frequent and reliable repayments can increase your credit score
  • No credit check
  • Hidden fees and charges
  • Experts suggest that short-term, high-cost lending actually increases debt

In spite of the high cost of these loans, if you can get credit at 31% APR without additional fees, you may find them a great financial choice.

What will a West Virginia payday loan cost?

Knowing how much you will be paying on a line of credit is crucial. Calculate finance APRs by working out fees, interest, size, and term of the borrowed amount. Check out this example to get an idea of how your APR is calculated:  You borrow $800 over a period of 42 days. There are fees of $40.

  • To calculate total fees, add the interest and fee charges together

Total fees-  $40

  • The total fees should be divided by the amount.

$40 divided by $500 = 0.08

  • Take the answer and multiply it by 365 (days in a year)

0.08 x 365 = 29.20

  • Take the answer and divide it by the number of days in the term

29.20 divided by 42 days = 0.08

  • Add a percent sign after the decimal point and move it to two places to the right.

This loan has an APR of 008%.

West Virginia payday loans if the Credit Rating Is Poor

People with bad credit are generally more likely to benefit from West Virginia online payday loans. West Virginians might have difficulty getting financing from other companies if their credit score is too low. Other types of credit, such as personal and bad credit installment loans have several advantages if you cannot get the payday loan you were looking for. However, they also have some disadvantages. There is a possibility that the amount is too large for your needs. Furthermore, you have to meet higher credit and financial requirements. In addition, it may take longer for a decision to be approved and processed.  The latter two downsides cannot be changed, but there is a way around the first one, the loan amount. Obtain the advance for whatever amount you need, pay the bills you need to pay, and begin paying it back immediately. After paying your bills, don’t spend any money left over. Pay back what you owe with that money. By repaying this way, you will increase your credit score, making you look more attractive to lenders.

What are alternatives to West Virginia payday loans?

Regular loans can be difficult to obtain. As a result, you may want to consider the following options:

  • Ask your employer for an advance. It is a realistic and workable option if you work officially and do not ask for this every month.
  • Look for pawn shop credit.
  • Apply for a consolidation loan if you’re currently struggling with several creditors.
  • Pay advance app.
  • Ask family and friends for help.
  • Look for a second income (if you can).
  • Apply for a low-interest credit card – although these will come with fees and charges.
  • Credit Union.

If you’re really struggling financially, life can seem overwhelming. In the event that none of the options listed in this article are relevant to you, you may wish to consider seeking the assistance of a professional.

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Frequently Asked Questions

It is probably best to stay away from those offering online payday loans in WV since they are illegal. You may be able to get a payday loan online in bordering states, however. Additionally, you may qualify for other kinds of finance options in your state. 

Highly unlikely. Interest is the source of income for lenders. So, they are more likely, in fact, to offer higher APR rates to those who are desperate for money if they have nowhere else to turn. 

You cannot get any West Virginia payday loans online due to law restrictions. If you want to take out several short-term credits in another form, a lender will more than likely limit you to one form of credit at a time. 

It is illegal for anyone living in the state of WV to obtain a payday loan. It is possible, however, to apply for other types of finance, such as installment or personal credit. Some of these may be secured.  

In the event of non-payment of a loan, criminal charges may not be brought against the borrower. A governmental agency regulates credit in states that allow them. Report your lender to the appropriate state if you are being treated unfairly, for example, if you are being harassed or threatened by your lender.

Those with a court order judgment can garnish wages in West Virginia. This includes creditors, debt buyers, collectors, and landlords.

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