On February 22, 2026, significant changes in West Virginia debtor and creditor laws have taken effect, impacting both borrowers and lenders in the state. These changes have implications for how debts are collected, how creditors can pursue debtors, and the rights and responsibilities of both parties in financial transactions.One of the key changes is the implementation of new regulations aimed at protecting borrowers from aggressive and predatory lending practices. Under the new laws, lenders are required to provide clearer and more transparent information to borrowers regarding the terms and conditions of their loans. This includes disclosing all fees, interest rates, and other charges associated with the loan, as well as ensuring that the borrower fully understands the consequences of defaulting on the loan.Additionally, the new laws also place restrictions on the ways in which creditors can pursue debts owed to them. Debt collectors are now prohibited from engaging in harassing or abusive tactics to collect debts, such as making repeated phone calls, using threats or intimidation, or contacting borrowers at inappropriate times. These regulations aim to protect borrowers from undue harassment and ensure that debt collection practices are fair and respectful.Furthermore, the updated laws also provide greater protections for borrowers facing financial hardship. Lenders are now required to work with borrowers to establish reasonable repayment plans in cases where the borrower is struggling to make payments. This includes exploring options such as loan modifications, refinancing, or debt restructuring to help borrowers manage their debts more effectively.Overall, these changes represent a significant shift in the debtor-creditor relationship in West Virginia, with a focus on promoting fairness, transparency, and responsible lending practices. Borrowers can now feel more confident that they are protected from predatory practices, while lenders are held to higher standards of accountability and ethical conduct.As these new regulations take effect, it is important for both borrowers and lenders to familiarize themselves with the updated laws and regulations to ensure compliance and avoid potential legal repercussions. By understanding their rights and responsibilities under the new laws, both parties can navigate the borrowing and lending process with greater confidence and clarity.