Virginia Payday Loan Act Overview

The Virginia Payday Lender Act (VPLA), §6.2-1800 et seq., is a statute created to regulate the way payday lenders in the Commonwealth do business, and to protect consumers from unfair practices.

The VPLA governs the conduct of payday lenders. The law defines a “payday loan,” and then regulates the behavior of persons who “engage in the business of making payday loans.” A payday loan, then, is defined as a “small, short-maturity loan on the security of” a check, a bank account, or your income.

Businesses that make payday loans are required by the VPLA to register with the State Corporation Commission. Under the statute, this also includes payday lenders on the internet doing business in Virginia. Payday lenders are also required under the Act to follow rules regarding the loans that they make to consumers.

First, the VLPA set limits on the interest rates that a payday lender can charge. (These interest rates can vary depending on other statutes, though; for example, interest rates for active duty military personnel are different).  It also limits the fees that they can build into the agreement. Also, consumers have the RIGHT to start making payments (with a minimum of $5) before the date the loan is due without penalty.

Furthermore, there are additional rules regarding how the payday lenders can treat a consumer when they’re collecting on the loan. Like the federal Fair Debt Collection Practices Act, the VPLA prohibits harassment or abuse, false or misleading statements, and unfair collection practices.

If a payday lender violates any of the rules outlined above, the consumer is entitled to bring suit in Virginia state court. The law entitles a consumer to actual damages, statutory damages, attorneys’ fees, and court costs. In addition, any written agreement terms that violate the VPLA are unenforceable against the consumer.

Don’t let payday lenders take advantage of you. You have RIGHTS and you should exercise them. At Krumbein Consumer Legal Services, we want to be your advocate. We will stand up to the lenders on your behalf to make sure that your rights aren’t violated, and that you get compensated when they go too far.


If you are not a Virginia Resident, click here to find a lawyer near you.


The rights afforded to you, as a consumer, under the VPLA and the VCPA means that a corporation or party who has violated your rights may ultimately be made to pay for statutory damages, actual damages, and your legal fees. Therefore, if we agree to represent you in any case, you won’t pay any attorney’s fees unless we are successful and we recover on your behalf. We are here to serve and have assisted many consumers TO enforce their legal rights. Let us try and see if we can help you too. That means you pay no fee in your case unless we recover.

Contact us by e-mail or by telephone or fax or US Mail.

Krumbein Consumer Legal Services, Inc.
5310 Markel Rd. Suite 102
Richmond, VA 23230
804-303-0209 (fax)