Virginia

Payday Loans in Virginia

At a Glance
Virginia

Virginia’s poverty rate in 2018 was about 10.6%. According to the U.S. Census Bureau’s American Community Survey (ACS), the median household income in Virginia reached $72,577 in 2018 —that was $10,640 higher than the nationwide average. Despite such a high median household income and an unemployment rate of only 2.8%, Virginia residents are still searching for alternative means for making ends meet.

Average Credit Card Debt and Median Household Income in Virginia vs. the U.S.
Virginia
US
Average Credit Card Debt (Q2 2019)
Median Household Income (2018)

Payday Loans in Virginia

A payday loan is a small dollar (typically less than $1,000) loan that’s offered for a short term (typically 2 weeks) at an average interest rate (400% APR is typical).

 

Consumer Protection in Virginia

How to Report a Lender in Virginia

To find out if a lender in Virginia is properly licensed and bonded, the public can contact the Bureau of Financial Institutions—a division of the State Corporation Commission. Borrowers can visit their website, or call their toll-free number at 1-800-552-7945.

 

Virginia Bureau of Financial Institutions Information
  • Address:Tyler Building, 8th Floor 1300 East Main Street, Suite 800 Richmond, VA 23219
  • Phone:(800) 552-7945
  • Fax:(804) 371-9416
  • Website:http://www.scc.virginia.gov/bfi/

Guides to Payday in Virginia Cities

Check out these payday guides for the following cities in Virginia…

Lynchburg | Newport News | Norfolk | Richmond | Roanoke | Virginia Beach