Virginia’s Payday Loan Laws

By Shawn Martin


Virginia State Flag
Virginia State Flag

Virginia’s payday loan laws are pretty wide open. They have no set legislation in place to govern these companies.

Much like many other states it is very easy to get in over your head in payday loan debt in this state.

Virginia does not have a cap on the amount of payday loans allowed, nor does it have any limits on the length of the loans.

One must be very careful not to borrow more than they can afford to pay back, and always remember the longer the payday loan, the more interest you will pay,

This state also does not have any limits on how many times you are allowed to roll over your loan. The average person will roll over a payday loan between 4 and 5 times before retiring it.

This leads to massive amounts of fees and interest, which leads to the next thing to be very careful with in Virginia.

The loan companies are allowed to charge any fees and interest the customer is willing to pay. You must completely understand how they charge and compound interest and fees. In other words, read the fine print before signing anything!

One last thing to be very careful with is having more than one payday loan at a time.

This is allowed in Virginia and can lead to borrowing money to cover borrowed money, a very dangerous financial practice.

We can help!


If you have fallen into the payday loan trap and are over your head in payday loan debt, you are not alone. Many people are in this situation and we can help!

Check out our Payday loan repayment plan and fill out our form for a free no obligation quote to find out how we can help you.

I hope this information will help people understand that payday loans are meant to be a one time, pay in full on the first due date type of emergency loan, and any other use of them can be disastrous to your financial situation.

6 thoughts on “Virginia’s Payday Loan Laws”

  1. Its a pity these loan companies are allowed to pile on the interest to trap people into very expensive dept. Great that you are getting the word out there that help is at hand.

  2. It’s shocking to read that the average payday loan is rolled over between 4 and 5 times and that people take out payday loans to pay other payday loans. What a sad and expensive ordeal one can get into. I hope more read this and understand the consequences.

  3. I see you are still working your way around the country! So glad to see that, my friend. It’s a slippery slope leading to financial ruin when you sign up for a payday loan without knowing the laws.

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