Charleston Personal Loan Terms and Rules in 2025

Common Capital is a Help Organization dedicated to providing the public with comprehensive, accurate, and accessible online information about payday loans in West Virginia.

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West Virginia Charleston

Charleston Short-term Loans Terms

Legal Status Illegal
Interest Rate (APR) 31% APR for loans up to $2,000

Trusted Personal Loan Lenders in Charleston, WV

Discover reliable and reputable personal loan lenders, carefully vetted to ensure secure and transparent borrowing solutions for your financial needs. Trust our partners for your loan journey.

Lender
User Ratings
Address
Phone
Category
Rachel Lester - US Bank
User Raiting:
5.00
Address: 1202 Virginia St E 1st Floor, Charleston, WV 25301
Phone: +1 (304) 712-2895
Category: Financial institution
Avon Cobourne - Gateway Mortgage
User Raiting:
5.00
Address: 1202 Virginia St E 1st Floor, Charleston, WV 25301
Phone: +1 (304) 988-5364
Category: Financial institution
City National Bank
User Raiting:
4.90
Address: 120 Kanawha Blvd E W, Charleston, WV 25302
Phone: +1 (304) 342-3755
Category: Bank
Element Federal Credit Union
User Raiting:
4.60
Address: 3418 MacCorkle Ave, Charleston, WV 25304
Phone: +1 (304) 721-4145
Category: Credit union
Members Choice WV Federal Credit Union
User Raiting:
4.40
Address: 201 Ohio Ave, Charleston, WV 25302
Phone: +1 (304) 346-5242
Category: Financial institution
Chase Bank
User Raiting:
4.20
Address: 200 Kanawha Mall, Charleston, WV 25304
Phone: +1 (304) 925-1925
Category: Bank
CAMC Federal Credit Union
User Raiting:
4.10
Address: 3400 MacCorkle Ave, Charleston, WV 25304
Phone: +1 (304) 388-5700
Category: Financial institution
City National Bank
User Raiting:
4.00
Address: 3601 MacCorkle Ave SE, Charleston, WV 25304
Phone: +1 (304) 926-3308
Category: Bank
Star USA Federal Credit Union
User Raiting:
3.70
Address: 1 Cantley Dr, Charleston, WV 25314
Phone: +1 (304) 357-2319
Category: Credit union
Union Trades Federal Credit Union
User Raiting:
3.70
Address: 210 Tennessee Ave, Charleston, WV 25302
Phone: +1 (304) 344-0194
Category: Credit union
Pioneer Appalachia Federal Credit Union
User Raiting:
3.60
Address: 1316 Kanawha Blvd E, Charleston, WV 25301
Phone: +1 (304) 348-6648
Category: Credit union
Huntington Bank
User Raiting:
3.40
Address: 500 Lee St E, Charleston, WV 25301
Phone: +1 (304) 348-5001
Category: Bank
United Bank
User Raiting:
3.40
Address: 500 Virginia St E, Charleston, WV 25301
Phone: +1 (304) 348-8400
Category: Bank
Poca Valley Bank
User Raiting:
3.30
Address: 6420 Sissonville Dr, Charleston, WV 25320
Phone: +1 (304) 984-1997
Category: Bank
United Bank
User Raiting:
2.80
Address: 4901 MacCorkle Ave SE, Charleston, WV 25304
Phone: +1 (304) 720-3575
Category: Bank
Huntington Bank
User Raiting:
2.50
Address: 219 Leon Sullivan Way, Charleston, WV 25301
Phone: +1 (304) 348-5077
Category: Bank
Peoples Bank
User Raiting:
1.00
Address: 201 Pennsylvania Ave N, Charleston, WV 25302
Phone: +1 (304) 340-3000
Category: Bank

West Virginia Short-term Loan Regulations

In West Virginia, payday lending is effectively prohibited due to strict usury laws. The state's regulations, particularly the West Virginia Consumer Credit and Protection Act, impose a maximum interest rate cap that makes traditional payday lending unprofitable. Under this act, licensed lenders are limited in the amount of interest they can charge, which is significantly lower than the typical rates charged by payday lenders.

The West Virginia Consumer Credit and Protection Act caps the interest rate for consumer loans at 31% per annum on unpaid balances of $2,000 or less. This cap is far below the rates that payday lenders usually charge. As a result, there are no payday loan storefronts in West Virginia. The state has been proactive in enforcing its laws against payday lenders operating within its borders, including online lenders.

Additionally, lenders in West Virginia, as in all states, must comply with federal regulations. This includes the Truth in Lending Act, which mandates that lenders, including those operating online, disclose the cost of the loan in terms of the finance charge and the annual percentage rate (APR). The Fair Debt Collection Practices Act also applies, regulating how debts are collected and prohibiting abusive, deceptive, and unfair collection practices.

Due to these stringent regulations, consumers in West Virginia are largely protected from the high-interest rates and potentially predatory practices associated with payday lending.

What Are the Alternatives for Short-term Loans in Charleston?

Explore various safer financial options to manage unexpected expenses and avoid the high costs and risks associated with payday loans. Learn about budgeting, credit counseling, and community resources.

Instant Installment Loans

Instant installment loans allow borrowers to repay borrowed amounts in regular, scheduled payments over time, offering flexibility compared to lump-sum repayment methods.

Fast Cash Loans

Fast cash loans provide borrowers with quick, short-term funds typically required for urgent financial needs, often with minimal documentation.

Quick Title Loans

Quick title loans use a vehicle as collateral, allowing borrowers to access funds based on the car’s value, with a focus on speed.

Emergency Loan Online

Emergency loans online offer swift financial relief for unexpected expenses, with a streamlined application process conducted entirely online.

Payday Loans Online

Payday loans online allow individuals to borrow small amounts of money with repayment scheduled on the next payday, offering convenience and accessibility.

Guaranteed P2P Loans

Guaranteed P2P loans involve borrowing directly from individuals through a platform, providing an alternative to traditional banking with potential privacy and approval benefits.

No Credit Check Debt Consolidation Loans

No credit check debt consolidation loans combine multiple debts into one, aiming to simplify payments and reduce interest rates without a credit inquiry.

Bad Credit Loans Online

Bad credit loans online cater to those with poor credit scores, providing access to funds without traditional credit barriers through convenient online platforms.

Requirements for Instant Cash Advance

  • Valid identification, such as a driver's license or passport.
  • Proof of steady income, typically recent pay stubs or bank statements.
  • Active bank account in your name for deposit and repayment processes.
  • Minimum age requirement of 18 years or older.
  • Contact details, including a current phone number and valid email address.
  • Residential address and proof of residency, like utility bills or lease agreement.
  • Social Security Number or equivalent for identity verification.

How to Use Personal Loans - Useful Resources

Explore our comprehensive guide on utilizing personal loans effectively, complete with useful resources to help you make informed decisions and improve your financial well-being. Start learning today!

Industry
Address
Phone
Car Repair and Service
Address: 7 Dudley Farms Lane, South Charleston, WV 25309
Phone: +1 (304) 746-0700
Car Wash
Address: 224 Kanawha Boulevard East, Charleston, WV 25301
Phone: +1 (304) 416-3704
Club & Association
Address: 1024 Quarrier Street, Charleston, WV 25301
Phone: +1 (304) 720-5632
College/University
Address: 1000 Kanawha Boulevard West, Charleston, WV 25302
Phone: +1 (304) 925-3200
Community Center
Address: 4510 Pennsylvania Avenue, Charleston, WV 25302
Phone: +1 (304) 965-9081
Concert Hall
Address: 477 King Street, South Charleston, WV 25303
-
Dentist
Address: 2115 Charleston Town Center, Charleston, WV 25389
Phone: +1 (304) 720-7645
Fast Food
Address: 741 Washington Street West, Charleston, WV 25302
-
Fitness Club & Center
Address: 1426 Kanawha Boulevard East, Charleston, WV 25301
Phone: +1 (304) 340-3594
General Practitioner
Address: 4610 Kanawha Avenue Southwest, South Charleston, WV 25309
Phone: +1 (304) 400-4635
Government Office
Address: 114 Dickinson Street, Charleston, WV 25301
Phone: +1 (304) 348-8106
Hospital for Women and Children
Address: 333 Laidley Street, Charleston, WV 25301
Phone: +1 (304) 720-7234
Library
Address: 123 Capitol Street, Charleston, WV 25301
Phone: +1 (304) 343-4646
Local Post Office
Address: 4202 Malden Drive, Charleston, WV 25306
Phone: +1 (304) 925-0324
Motel
Address: 1607 Bigley Avenue, Charleston, WV 25302
Phone: +1 (304) 345-3500

How to Get to Charleston

Complaints about Short-term loan, Title Loan, or Personal Loan in West Virginia

Issue Type
Amount of Complaints
Charged fees or interest you didn't expect
10
Problem with the payoff process at the end of the loan
10
Getting the loan
9
Problem when making payments
9
Problem with additional add-on products or services
5
Getting a line of credit
5
Struggling to pay your loan
4
Money was taken from your bank account on the wrong day or for the wrong amount
2
Incorrect information on your report
2
Credit limit changed
2
The data is taken from consumer complaint database created by Consumer Financial Protection Bureau

Submit a Complaint for a Short-term lender in Charleston

If you need to submit a complaint against a payday lender in West Virginia, the primary regulatory body is the West Virginia Division of Financial Institutions. They ensure compliance with state laws governing payday loans. You can reach them at:

  • West Virginia Division of Financial Institutions, 900 Pennsylvania Avenue, Suite 306, Charleston, WV 25302
  • (304) 558-2294
Submit a Complaint

Frequently Asked Questions about Short-term Loans

Are Payday Loans Legal in West Virginia?

Yes, payday loans are legal in West Virginia. However, they are subject to regulations and consumer protections to ensure responsible lending practices and protect borrowers.

Why are Payday Loans Regulated?

Payday loans are regulated in West Virginia to prevent predatory lending practices and excessive interest rates. The regulations aim to safeguard the financial well-being of residents and ensure that borrowers are not trapped in cycles of debt.

What Are the Restrictions on Payday Loans in West Virginia?

In West Virginia, payday loans are subject to restrictions, including maximum loan amounts, maximum loan terms, and limits on finance charges. These regulations are in place to protect consumers from the potentially harmful effects of payday lending.

Can Out-of-State Lenders Offer Payday Loans?

Out-of-state payday lenders are allowed to offer payday loans to residents in West Virginia, but they must adhere to the local regulations and licensing requirements.

Where Can I Report Unlawful Payday Lending Practices?

If you encounter any unlawful payday lending practices or believe you have been targeted by predatory lenders in West Virginia, you can report these issues to the West Virginia Division of Financial Institutions. They can investigate and take appropriate actions to address any violations of payday lending laws in the state. Reporting such practices helps protect consumers from unfair treatment and promotes responsible lending.

West Virginia Personal Loans Near Me

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