West Virginia Payday Loan Laws and Regulations

Find out if quick short-term Payday Loans are legal in West Virginia. Learn what amounts, interest rates and repayment terms are set by the state's Legislation. Find legal ways to borrow the necessary amount in West Virginia.

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West Virginia Payday Loans Rates and Terms

Legal Status

Legal Status

The status of a loan type according to the Federal laws and regulations. What concerns Payday Loans some states consider them legal, some – illegal and some restrict them in terms of amounts and interest rates.

Maximum Loan Amount

Maximum Loan Amount

It’s the maximum sum of cash advance allowed to apply for in the state. It usually ranges from $500 to $1000. But it may vary depending on the lender and his requirements.

Maximum APR

Maximum APR

The maximum percentage allowed that actually represents annual cost of your loan. The APR is based on several things, including the amount you borrow, the interest rate and costs you’re being charged, and the length of your loan.


You must have heard that Payday Loans are prohibited in West Virginia, you may find other options to get instant cash advance permitted by the state's laws. Study the rules and regulations concerning short-term loans in West Virginia. Find available alternatives.

Table of Contents:

Are Payday Loans legal in West Virginia?

Why are Payday Loans illegal in West Virginia?

West Virginia Payday Loans Laws

West Virginia Payday Loans online laws

Does West Virginia law allow Payday Loans for bad credit borrowers?

West Virginia Payday Loans news  - latest changes

West Virginia Payday Loans historical background

West Virginia Payday Loan alternatives

Are Payday Loans legal in West Virginia?

Short-term Payday Loans in West Virginia are Illegal according to W. Va. Code 46A-4-107 and 32A-3-1 et seq.. These documents state the maximum Payday Loan amount in West Virginia of $2000 and also cap the APR at 31.00%.

Remember that regardless of this, there are other loan options available to cover your urgent expenses fast such as Installment Loans in West Virginia and Personal Loans in West Virginia.

Read more: Payday Loans in West Virginia

As we can see, 31.00% caps all short-term loans at 31.00% APR. 

For other details  and information on Payday Loans in West Virginia contact West Virginia Division of Financial Institutions.

Why are Payday Loans illegal in West Virginia? 

The Government considers Payday Loans too expensive and often associated with lenders' predatory practices. That's why in West Virginia Payday Loans are Illegal according to W. Va. Code 46A-4-107 and 32A-3-1 et seq. which caps the APR at 31.00%.

It caused most lenders to stop issuing short-term small-dollar loans as it became not profitable. Still, there still exist some banks and online companies offering similar types of cash advance suitable to cover any unexpected emergencies.

West Virginia Payday Loan laws 

Payday Loans in West Virginia share the same characteristics as short-term cash advances in other states but due to high cost and short repayment terms they are prohibited in West Virginia. Lenders can't legally operate because of the rate cap set by the authorities. But we can let you compare other options available in West Virginia.

If you haven't succeeded in finding the necessary cash advance, there are always other options to receive the necessary funds in West Virginia: unsecured Installment Loans, bad credit Personal Loans, Title Loans, Check Cashing, Pawn Shops, etc.

Legal Personal Installment Loans in West Virginia

West Virginia Payday Loans online laws 

Usually, the state's Payday Loan laws concern both storefront and online lenders. Online lenders should also operate in accordance with all relevant state and federal laws. Otherwise, they may be liable to West Virginia Division of Financial Institutions for law violations. 

"When a company sets foot in West Virginia, whether in person or over the Internet, my office has a duty to ensure the enterprise complies with state law,” West Virginia Attorney General McGraw said in a press release. “Any company that makes payday loans must halt its usurious business and produce records identifying its victims.”  

To apply for a loan online in West Virginia you'll need to meet the following requirements:

  1. be not less than 18 y.o.
  2. be a citizen of the USA (resident).
  3. have a fixed income.
  4. provide an available e-mail address and phone number.
  5. possess a bank account that's not overdrawn.

Besides, prepare the necessary documents:

  • Residential address, contact number, and e-mail address;
  • Information about your job position and income (a month);
  • Your name, birth date, Social Security Card, passport or driving license;
  • Those who apply via website also should denote a checking account.

For years, the Attorney General’s office has worked hard to eliminate all forms of payday lending in West Virginia. However, not all the efforts were successful as usurious loans are still available online (regardless of the fact that storefront payday lenders are no longer available in West Virginia).

Does West Virginia law allow Payday Loans for bad credit borrowers? 

The average credit score in West Virginia is 658, placing it in the good range. But it doesn't mean that those who have a worse credit can't apply for the necessary cash advance in West Virginia. 

  • First of all, there're some companies in West Virginia providing similar to Payday loans services to borrowers with both good and bad credit score.
  • Secondly, you can always find a cosigner to increase your chances of being approved for a bad credit Payday Loan.
  • Find out how to improve your credit score and do your best to do it fast. 
  • Or consider taking out a bad credit Installment Loan, or bad credit Personal Loan.

West Virginia Payday Loans news  - latest changes

The Office of West Virginia Attorney General Darrell McGraw filed a lawsuit against eight companies for their involvement in Internet payday loans. 

“Any company that plays any role in making Internet payday loans is engaging in illegal activity,” he said. “They’re not legal here.”

Still, online lenders keep on offering small-dollar loans to desperate customers. It naturally leads to debt. Ultimately the Government sees the only way out which is enforcing Payday Loan laws in West Virginia.

West Virginia Payday Loans historical background 

The history of Payday Loans in West Virginia
Till present daysPayday Loans have always been prohibited in the state according to W. Va. Code 46A-4-107 and 32A-3-1 et seq.

West Virginia Payday Loan alternatives 

If you're looking for instant cash advance in West Virginia but not a Payday Loan, consider other alternative ways to get the necessary funds:

  • Apply for an Installment Loan - $1000 - $5000 cash advance repaid over several months or years in equal installments.
  • Sell some of your valuable stuff online or at a pawn-shop.
  • Apply for West Virginia Tribal loans. Tribal lenders can avoid the state's caps and limits as they operate outside the state regulations. 
  • Consider borrowing from a bank or credit union. 
  • Qualify for one of Federal or West Virginia state government assistance programs: Supplemental Nutrition Assistance Program (SNAP), WV WORKS, Emergency Assistance Program, Non-Emergency Medical Transportation (NEMT), School clothing Allowance, Low Income Energy Assistance Program (LIEAP), Long Term Care, Medicaid, WV Children’s Health Insurance Program (WV CHIP), AccessWV, etc.