First Virginia Loans may be a good solution for getting quick cash when you need it, but before you apply with them, you want to ensure that it is safe to deal with the company and it is not a scam.
That is why, you should read this review.
Initial Information
First Virginia Loans belongs to Community Choice Financial, a holding company that was established in 2011.
The mission of this financial services company is to help Americans to cover their expenses if there are no sufficient funds in their budget.
The services are available in 500 different locations across the USA, and in order to find out if they are provided in your location, you should enter your zip code on the site of the company.
It is a legit company that operates based on officially issued licenses.
Website: https://www.ccfi.com/firstvirginialoans/
Loans and Conditions
All loans that you can apply for with the financial company are provided by Cash Central, a member of this Financial Family.
Usually, it is possible to apply for a single payroll advance for two-four weeks but the term can be extended for months, which can be quite expensive.
If you are looking for long-term loans, payroll advances are not recommended for you.
It is important to note that conditions may vary based on your location.
For instance, if you live in Alabama, you can apply for an installment loan in the amount ranging from $2,000 to $5,000 for up to two years.
Also, you can opt for a payday loan in the amount ranging from $100 to $500 from 10 to 30 days.
APR depends on the loan terms.
For instance, they offer 354.86% for 18 days to 638.75% for 10 days.
Moreover, there is a fee of $30 for earlier returned payments, but it may really vary depending on types of loans.
How to Apply
Not all applications are approved, and in order to get a loan, you need to qualify.
You can fill out and submit your application right on the website of the company.
You will be taken to a certain application page based on your state, where you will have to provide some information about yourself, including your job.
Customer Reviews and Ratings
On Pissed Consumer, it has a rating of 1.3 out of 5.
According to customer reviews, the service provider changes policies without notice, has high interest rates, and takes money without notice.
First Virginia Loans does not have BBB’s accreditation and no complaints on its website, but Community Choice Financial does have a rating of A+ and 8 negative customer reviews.
Bottom line
First Virginia Loans is a safe and legit way to get some money when you need it, and you should not be afraid of a scam.
However, as you can see from this review, there are some negative opinions on the service provider.
Although it is impossible to keep all customers satisfied, before you make a deal with this company, it is recommended to check their conditions carefully as well as what customers think of it to avoid unpleasant situations.
Submit your Request, Qualify and Get Money Online
Representative Examples of APR, Total Loan Costs & Fee
| LOAN AMOUNT | $2,500 | $5,000 |
| INTEREST RATE | 16.00% | 13.00% |
| LOAN TERM | 36 Mos | 48 Mos |
| FEE | 10.00% | 12.00% |
| MONTHLY PAYMENT | $87.89 | $131.67 |
| APR | 22.93% | 18.23% |
| TOTAL PAYMENTS | $3,164.13 | $6,320.12 |
| TOTAL COSTS | $914.13 | $1,920.12 |
RiverCityIdaho.com does not provide loans itself, it is important to contact the lender you are connected with directly to obtain the specific details of your loan agreement.
who took over this company? Please, write!
This company used to be good but now, consumers beware. They have gone from good to bad. The only reason I did business with them in the past was because they provided the option to get emergency funds with no interest if the balance was paid in full in 25 days. I took advantage of that option. However, I guess their greed has now gotten the best of them.
They market themselves as being better than payday lenders because their interest rates are so much lower (35%). They also say that unlike payday loans of the past, you can reborrow on the same day once you pay it off. This is true but with consequences. Every time you borrow, they charge a fee that is 10%. For example, if you borrow $500, they will deduct 10% which will leave you with $450 to take with you. Then, when you pay it off on the due date (every two weeks instead of once a month) they charge another 10% on whatever balance remains. These fees make it almost impossible to pay it off without reborrowing. Also, you never get the full amount that you borrow because of the fee.
I expressed my displeasure with two representatives at First Virginia. They blamed their new funding provider, Path Credit, for the change in their terms. They stated that they couldn’t call Path Credit for any issues but when I called Path Credit,
the representatives said that that wasn’t true and First Virginia representatives had a direct phone number to them.
After I disputed the excuses made the representatives of First Virginia, they proceeded to blamed the governor for changing the laws that forced them to resort to their current lending practices.
Fortunately, I was able to pay them off and permanently close my account. There was a residual interest balance of $3.78 that remained. When I paid it off, they charged a 10% fee on $3.78 which brought the final total to $4.16.
Again, consumers beware. This is financial enslavement and “legalized loan sharking.”
I used to work for First Virginia.
All I can say is: Beware. If you need a loan, get with your bank. First Virginia and places like it certainly are legal loan sharks. Only I worked for them before the new Virginia bill has passed that makes ALL loans in Virginia with a 36% APR or less. Back in 2017, First Virginia robbed its customers with a 264% interest rate. They took advantage of the poor and desperate.