Virginians Against Payday Loans
(VAPL) is an organization of businesses, consumer advocates and faith based groups working
to stop payday loans in Virginia. We work with numerous faith based, civic and community organizations
opposed to payday lending. A payday loan, also known as a cash advance, is intended to be a short term
loan but many people become trapped in a cycle of debt that can last for months or even years.
St Louis has a number of lenders who offer signature personal loan. You simply need to complete a simple application, with answers to a few questions about your personal and financial information. You will then be directed to the lender for more questions. You will generally get an answer back within an hour or two. This makes the application process easy and very convenient.
Payday lenders can legally charge up to 782% APR on a cash advance loan in Virginia as a result of a special exemption granted to them in the Payday Loan
Act of 2002. Virginians Against Payday Loans has three main goals:
of the Payday Loan Act of 2002, or the implementation of a 36% APR cap on all payday loans;
of financial alternatives to payday loans;
3) Increasing financial literacy among those most likely to take out a payday loan.