FindLaw | Find a Lawyer. Find Answers.
Are you a legal Professional?
My current location:
,
| Change location
West Virginia Interest Rates Laws
More Information on Interest Rate Laws
| Legal Maximum Rate of Interest | 6% absent written agreement otherwise (§47-6-5); 8% maximum contract rate (§47-6-5(b)) |
| Penalty for Usury (Unlawful Interest Rate) | Void as to all interest and debtor may recover 4 times all interest agreed to be paid with $100 minimum (§47-6-6); if supervised lender willfully makes excess charge it is guilty of misdemeanor (§46A-5-103); court may award reasonable attorney's fees (§46A-5-104) |
| Interest Rates on Judgments | 10% (§§56-6-31; 46A-3-111) |
| Exceptions | Life insurer (§33-13-8); consumer credit sales (§46A-3-101); installment sale for business purposes; loans for business purposes (§47-6-11) |
Note: State laws are constantly changing -- contact an attorney or conduct your own legal research to verify the state law(s) you are researching.
Research the Law:
- Official State Codes - Links to the official online statutes (laws) in all 50 states and DC.
Related Resources for Interest Rates Laws: