Parkersburg Personal Loan Terms and Rules in 2025

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West Virginia Parkersburg

Parkersburg Short-term Loans Terms

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

Trusted Personal Loan Lenders in Parkersburg, WV

Discover our carefully vetted list of trusted personal loan lenders, committed to offering transparent, reliable, and fair lending options to empower individuals and support financial well-being.

Lender
User Ratings
Address
Phone
Category
PNC Mortgage
User Raiting:
5.00
Address: 2510 Murdoch Ave, Parkersburg, WV 26104
Phone: +1 (304) 422-4276
Category: Bank
First Mutual Bank Parkersburg Branch
User Raiting:
4.90
Address: 3850 Emerson Ave, Parkersburg, WV 26104
Phone: +1 (304) 422-1212
Category: Bank
Camden Clark Memorial Hospital Federal Credit Union
User Raiting:
4.70
Address: 801 Ann St, Parkersburg, WV 26101
Phone: +1 (304) 424-2255
Category: Financial institution
Community Bank of Parkersburg
User Raiting:
4.60
Address: 3906 Emerson Ave, Parkersburg, WV 26104
Phone: +1 (304) 485-0602
Category: Bank
Community Bank of Parkersburg
User Raiting:
4.60
Address: 1620 Blizzard Dr, Parkersburg, WV 26101
Phone: +1 (304) 422-7360
Category: Bank
Community Bank of Parkersburg
User Raiting:
4.50
Address: 631 Juliana St, Parkersburg, WV 26101
Phone: +1 (304) 485-7991
Category: Bank
Mountain Heritage FCU
User Raiting:
4.40
Address: 1822 7th St, Parkersburg, WV 26101
Phone: +1 (304) 424-7256
Category: Credit union
WesBanco Bank
User Raiting:
3.90
Address: 260 Gihon Village, Parkersburg, WV 26103
Phone: +1 (304) 480-2600
Category: Bank
Peoples Bank
User Raiting:
3.70
Address: 3411 Emerson Ave, Parkersburg, WV 26104
Phone: +1 (304) 428-2500
Category: Bank
Union Trades Federal CU
User Raiting:
3.40
Address: 1925 Murdoch Ave, Parkersburg, WV 26101
Phone: +1 (304) 485-1421
Category: Financial institution
WesBanco Bank
User Raiting:
3.20
Address: 415 Market St, Parkersburg, WV 26101
Phone: +1 (304) 480-2500
Category: Bank
United Bank
User Raiting:
3.00
Address: 1 Rosemar Cir, Parkersburg, WV 26104
Phone: +1 (304) 424-6300
Category: Bank
First Neighborhood Bank
User Raiting:
3.00
Address: 500 Division St, Parkersburg, WV 26101
Phone: +1 (304) 865-2265
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 Parkersburg?

Explore practical, affordable alternatives to payday loans, ensuring financial stability while avoiding high-interest traps. Discover options that promote responsible borrowing and offer long-term benefits for your financial health.

Instant Installment Loans

Instant Installment loans allow borrowers to repay borrowed amounts over a specified period in scheduled payments, often associated with lower interest rates compared to other short-term loans.

Guaranteed Cash Loans

Guaranteed Cash loans offer immediate financial relief by providing quick funds to cover unforeseen expenses, tailored for short-term financial needs with easy qualification processes.

Title Loans Quick

Title loans quick services use your vehicle as collateral to secure a loan, enabling fast access to cash with typically higher interest rates, suitable for immediate financial requirements.

Emergency Loan Fast

Emergency Loan fast options provide urgent funds during unexpected financial crises, offering fast approval processes to help manage unforeseen expenses effectively.

Payday Loans Online

Payday Loans Online offer short-term borrowing solutions accessible through online platforms, providing rapid access to funds against your next paycheck to ease immediate monetary shortages.

Instant P2P Loans

Instant P2P loans facilitate quick lending services through peer-to-peer platforms, enabling borrowers to secure funds directly from individuals bypassing traditional financial institutions.

No Credit Check Debt Consolidation Loans

No credit check debt consolidation loans combine multiple debts into one for easier repayment, often offering improved interest rates and reducing monthly payment burdens without a complex credit review.

Online Bad Credit Loans

Online bad credit loans cater to individuals with poor credit histories by providing accessible lending options online, overcoming conventional credit score barriers for urgent financial needs.

Requirements for Instant Cash Advance

  • Valid government-issued identification (e.g., passport, driver's license).
  • Proof of income such as recent pay stubs or bank statements.
  • Active and verified bank account details for cash deposit.
  • Completed application form, either online or in-person.
  • Contact information including phone number and email address.
  • Resident of the area serviced by the NGO's program.
  • Agreement to terms and conditions of the cash advance program.

How to Use Personal Loans - Useful Resources

Explore our comprehensive guide on utilizing personal loans effectively, with valuable resources to manage finances and make informed borrowing decisions. Empower your financial journey today.

Industry
Address
Phone
Bodyshop
Address: 1004 Depot Street, Parkersburg, WV 26101
Phone: +1 (304) 428-8015
Community Center
Address: 925 Market Street, Parkersburg, WV 26101
Phone: +1 (304) 422-6663
Fitness Club & Center
Address: 220 Kemper Street, Parkersburg, WV 26101
Phone: +1 (304) 485-7613
Government Office
Address: 1 Government Square, Parkersburg, WV 26101
Phone: +1 (304) 424-8537
Hospital
Address: 750 Division Street, Parkersburg, WV 26101
Phone: +1 (304) 422-9752
Hotel
Address: 10057 Emerson Avenue, Parkersburg, WV 26104
Phone: +1 (304) 916-7380
Restaurant
Address: 41 Bosley Parkway, Parkersburg, WV 26101
Phone: +1 (681) 588-0050
Shopping Center
Address: 2311 Ohio Avenue, Parkersburg, WV 26101
Phone: +1 (304) 422-6259
Specialist
Address: 1107 Garfield Avenue, Parkersburg, WV 26101
Phone: +1 (304) 422-2523
Theater
Address: 417 Grand Park Drive, Parkersburg, WV 26105
Phone: +1 (734) 764-5387
Wine & Spirits
Address: 33 Dry Run Road, Parkersburg, WV 26104
Phone: +1 (304) 428-3823

How to Get to Parkersburg

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 Parkersburg

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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