A guide to Payday Loans in Virginia, USA.

What are the Citation (s) to Payday Loan or Small Loan Laws in Virginia?

A: The relevant citation regarding Payday Loans in the Virginia State Jurisdiction is Va. Code Ann. § 6.1-444 et seq.

Q: Are Payday Loans legal in Virginia? 
A: Yes Payday Loans are legal in Virginia 

Q: What is the Maximum Cash Advance Loan Amount in Virginia?
A: The maximum Cash Advance or Payday Loan amount is $500. 

Q: What is the Payday Loan Term in Virginia?
A: The Minimum Payday Loan Term in Virginia is 7 days. 

Q: What is the Maximum Rate and Fee for Cash Advance Loans in Virginia?
A: The Maximum fee for Cash Advance Loans in Virginia is 15 percent. 

Q: What is the Finance charge for 14-day $100 payday loan in Virginia State?
A: The Finance charge for 14-day $100 payday loan in Virginia is $15. 

Q: What is the APR for 14-day $100 payday loan in Virginia State?
A: The APR charged for 14-day $100 payday loan in Virginia is 390 percent. 



Q: Is there a limit on the number of payday loans I can take at one time? 
A: The maximum number of payday loans is not specified. 

Q: How many times can the lender rollover my payday loan in Virginia? 
A: The lender cannot rollover (renew, extend or consolidate) the payday loan. 

Q: If I cannot repay my payday loan can the lender initiate a criminal action? 
A: No, the lender cannot initiate a criminal action against the borrower 

Q: Can I be charged a collection fee for a payday loan?
A: Yes, $25 NSF fee; Court Costs; Reasonable Attorney's Fees (not to exceed $250)

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the Virginia Department of Financial Institutions at:

Virginia Bureau of Financial Institutions
Address: State Corporation Commission, 1300 East Main Street, Suite 800 Post Office Box 640 Richmond, VA 23218
Phone: (804) 371-9657
Fax: (804) 371-9416
Regulatory Contact: Susan E. Hancock,, Deputy Commissioner, Consumer Finance

Website: http://www.scc.virginia.gov/division/banking/

Where can I find a payday loan store in Virginia? 

You can find the store nearest to your location by simply clicking on this loc: Virginia