What are the maximum interest rates allowed in the State of West Virginia?
State law provides for maximum finance charges to be charged consumers in West Virginia by credit extending entities headquartered here. If a credit extending entity is located in another state, you may often be charged the rate legal in the other state. For instance, if a merchant is offering credit to you, please carefully read the loan documents to determine who the actual lender is and where the lender is headquartered. In comparing your rate to those prescribed below, keep in mind that origination fees, investigation fees and other pre-paid finance charges MUST be included in the calculation of your total finance charges along with interest. Typically the addition of pre-paid finance charges has the affect of raising the cost of your loan. Thus, the stated interest rate of your loan may be lower than the true cost of your loan, referred to as the annual percentage rate (APR). Below is a recap of maximum finance charges OR Annual Percentage Rates (APR) allowed on loans issued in th
