Looking for an Unsecured Personal Loan in West Virginia?
Struggling to pay your debts? Need some help covering expenses until you can get a new job? Loans Now has the resources you need to find a great loan, with rates you can afford, and terms that meet all of your needs! Through our Loan Discovery Program, we’ve matched thousands of borrowers with offers that allowed them to borrow thousands of dollars, at rates they never dreamed they could qualify for! With less than a minute’s work, you can start accessing the same kinds of fantastic offers they enjoyed, at absolutely no cost to you!
Since all we offer are unsecured personal loans, you can put your money where it matters most. Whether that means paying your rent, repairing your car, or funding a hospital bill, the choice is yours to make! Plus, since our loans are unsecured, you’ll never have to promise your car or any other asset as collateral. Our network of lending partners typically has your money available in 24 hours, because we know you can’t wait for weeks when the bills are due now. Our process is quick, easy, and designed to get you the money you need when you need it!
Unsecured Loans for People with Bad or No Credit
Unlike the traditional lenders you may have dealt with in the past, we won’t automatically turn you away for bad credit. While many agencies won’t work with credit scores below 620, we extend our services to anyone with at least a 450. However, that doesn’t mean we make hard inquiries to check. Our purpose is to find great offers for you without making your situation worse. Initially, we allow you to report your own credit score on the 60-second enrollment questionnaire that we use to find your tailored options. By doing so, we can assure that:
- Your credit score isn’t affected
- Your information remains private
- You get more than one offer at a time
- Your offers match your circumstances
- You spend far less time searching for loan options
As explained on our How it Works page, when you use our Discovery program, we don’t find your offers using an algorithm. We know that you’re more than just a number representing a credit score, and that’s how we treat you. We assign you a personal consultant who will shop offers on your behalf after discussing all aspects of your situation. We want to ensure that we understand exactly what does and doesn’t work for you in a loan offer. It takes a human touch to solve human problems, and at Loans Now, solving your financial problems is why we’re in business!
A Struggle to Get By in West Virginia
While West Virginia may be a much cheaper place to live than other places in the United States, that doesn’t mean making a living in the state is easy. As of census estimates from 2017, around 19% of West Virginia’s population, or over 345,000 people, were living in poverty. To make matters worse, unemployment is much higher in West Virginia than many other states. The Bureau of Labor Statistics reported that the unemployment rate was 5.1% in December 2018. That was a full 1.1 points higher than 4.0% national average.
Even for people who manage to find work, earning a sustainable wage isn’t guaranteed. 2017 estimates placed the average household income in West Virginia at $44,061. That’s more than $16,000 less than what the national average was at the time. Additionally, buying groceries and accessing healthcare is more expensive than other regions in the U.S. This makes it incredibly difficult for citizens of West Virginia to maintain their basic needs while paying their other financial obligations. If this sounds like the situation you’re facing, a personal loan is the perfect option to help get your life back on track!
West Virginia Laws and Regulations for Bad Credit Personal Loans
West Virginia is one of the few states in the Union to take extensive steps to protect its citizens from lending fraud and abuse. Under West Virginia Code § 46A-4-101, the West Virginia Consumer Credit and Protection Act, lenders may not apply finance charges in excess of 18% per year on loans of $1,500 or less, or 12% on loans greater than $1,500. The highest legal rate of interest chargeable, even under contract, is 8% for consumer loans. Additionally, the law stipulates that lenders may not charge a prepayment penalty on any consumer loan. If a consumer does repay their full amount early, the lender must also rebate any excess finance charges and miscellaneous fees incurred under the original timeline.
Thankfully, the predatory practice of payday lending has been all but eliminated in West Virginia. The most common payday tactic, withholding checks to deposit later as a condition for obtaining a loan, is strictly prohibited under Article 3 of Code §32A-3-1. Coupled with the interest rate and finance charge caps outlined in the previous paragraphs, it’s all but impossible for payday lenders to trap people in the recurring debt scheme they normally employee.
Loans Now: Core Policies & Procedures
- Never collect or share sensitive customer information: SSN, DOB, Address.
- Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
- Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them
West Virginia Personal Loan for Bad Credit Lending Regulator
Within the State of West Virginia, the Secretary of State’s Office is responsible for ensuring that all loan and financial agencies are registered within the state. The office also maintains an active record of all registered businesses, allowing consumers to see if a business is registered. For organizations that are not registered, but trying to conduct business within the state, the office maintains a complaint form that consumers can file. Additionally, the Consumer Protection and Anti-Trust Division of the State Attorney General’s Office is responsible for ensuring all financial agencies abide by the law. They also process complaints from consumers who have been the victim of unfair or illegal practices.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K