Loan Options in West Virginia

West Virginia banned payday lending in 2001 when lawmakers let the prior authorization expire. State law caps interest on small consumer loans at 31% APR, which makes triple-digit payday rates illegal. Any company offering you a "payday loan" or "cash advance" above that cap is breaking the law.

Installment loans are legal under the West Virginia Consumer Credit and Protection Act (WV Code Chapter 46A). Licensed lenders can offer multi-payment loans as long as they stay within state rate and fee limits. For specifics on what lenders can charge, see the West Virginia Rates & Fees page.

If an online company claims to offer payday loans in West Virginia, treat it as a warning sign. Focus on installment loans in West Virginia or look into lower-cost alternatives instead.

• 31% APR cap on small consumer loans. This ceiling eliminates legal payday lending in West Virginia. Unlike states where payday APRs can hit 400% or higher, you won't face triple-digit interest from a licensed lender here.
• Licensing requirement for consumer lenders. Every company making consumer loans in West Virginia must hold a state license. Unlicensed lenders-especially online-only operators-have no legal right to collect on loans that violate state law. You can check a lender's status with the Attorney General's Consumer Protection Division before you share personal information.
• You can file complaints with the Attorney General. If a lender charges illegal rates, misleads you, or harasses you during collection, the WV Attorney General's office will take your complaint. The AG has enforcement power and has gone after unlicensed online lenders targeting West Virginia residents.
• Limits on wage assignments in loan contracts. WV Code Chapter 46A restricts certain wage assignment clauses in consumer credit contracts, so a lender generally can't force you to sign over future wages as a loan condition.

Before you share personal or financial details with any lender, review the LendUp scams and safety checklist-especially if you're contacted by an online lender you didn't reach out to first.