Virginia Payday Loan Reviews

Need a small short-term loan, just until next pay day? For many people, their bank will not be the best answer. Banks generally just don't deal in loan amounts less than $500, and the loan process is lengthy, requiring credit checks and collateral. That's where payday loans come in. You get get cash on hand, and have it automatically paid back on your next pay day. We've reviewed a range of payday lenders to help you find the best option for short term cash.

Not a Virginia resident? Choose your state here:

NextAdvisor Blog Headlines

Netflix, Amazon Instant Video and Hulu Plus: How Do the Big 3 Compare?
Aug 28, 2015 - With more and more Americans cutting the cord with their cable providers and opting to use an online video service to watch their favorite TV shows and movies, you may wonder which streaming service is the best one out there. To help you decide, we've taken a look at the three online video giants...

Post-Tax Season Scams to Look Out for
Aug 27, 2015 - Earlier in August, the IRS revealed that the Treasury Inspector General for Tax Administration (TIGTA) has been informed of nearly 4,000 instances of tax scamming this year, which added up to over $20 million in losses. Tax season may be over, but for scammers it?s always the season to swindle ta...

Geolocation: Beneficial or Dangerous?
Aug 27, 2015 - Have you ever wondered how Facebook seems to know the exact city you?re posting from? Whether you're on a computer, a smartphone or some other type of electronic device, chances are it has geolocation functions built into it. Geolocation is the term for the identification of the exact location of...

New Research Finds More Teens Encounter Drama on Social Media
Aug 26, 2015 - Parents often worry about how often their children go online, and what sort of interactions they may encounter on the web. According to a recent study by Pew Research Center, 92% of teens ages 13 to 17 report that they go online daily. More than half of teens in this report go online multiple tim...

Disney to Recreate Its Classics with New Live-Action Films
Aug 25, 2015 - Do you ever wonder how the Genie in Disney?s "Aladdin" became a genie forced to live in a lamp? Now you don?t have to wait, as Disney is making a live-action prequel to Disney's "Aladdin" that?ll tell Genie's story. According to The Los Angeles Times, the studio is in early development on the fil...

Payday
Loans
Overview

How does a payday loan work?

Payday loans are short-term advances provided by a licensed lender to a consumer. Funds are electronically deposited in the customer's account when the loan is made, and are automatically withdrawn when the loan is due on the customer's payday. Payday lenders charge fees and/or interest on a payday loan, which is also withdrawn on the due date. Rates, maximum loan amounts, and contracts vary by state.

Our payday loan reviews

During our review process we researched each payday lender's website and looked for important information like the availability of contact information. We also looked at how clearly the terms were spelled out and whether they were within the law as we understand it. In addition we provided BBB (Better Business Bureau) grades to give readers an idea of each lender's customer service practices. However, because each state has different laws in regards to payday lenders, we suggest you carefully review the information on the lenders' websites in order to understand the specifics of the terms in your state.


Fees and APRs

Payday lenders generally charge fees and interest per $100.00 that you borrow. By law, these fees and interest charges must be computed and shown as APRs (Annual Percentage Rates) so that customers can compare them to other forms of debt, such as credit cards. This generally means APRs in the range of 400% to 500%. While these are high percentages, it's important to remember that these loans are meant to be paid off in a period of 2 to 4 weeks; if paid on-time the actual interest rate is much lower. However, if you refinance your loan, as allowed in some states, the rate will quickly compound, which is why we recommend paying off the loan when it's due.


Sign Up For Our Newsletter



Advertiser Disclosure: NextAdvisor.com is a consumer information site that offers free, independent reviews and ratings of online services. We receive advertising revenue from most but not all of the companies whose products and services we review. For credit cards, we review cards from all of the top 10 US issuers by purchase volume (according to Issue 1035 of The Nilson Report, Feb 2014) excluding issuers that require additional accounts to be a cardholder and private label issuers. We may also review cards from other issuers in select cases. We do not review all products in a given category. We are independently owned and operated and all opinions expressed on this site are our own.