Payday Loans in Arkville, New York

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No payday loan companies in Arkville, NY. Consider companies in other cities:

Company nameAddressZip codePhone number
CAP COM Federal Credit Union 1744 U.S. 9, Clifton Park, NY 12065 +1 (800) 634 - 2340
Bank of America with Drive-thru ATM 400 Central Ave, Lawrence, NY 11559 +1 (516) 569 - 4200
Citibank 297 Merrick Rd, Rockville Centre, NY 11570 +1 (516) 362 - 3994
Prime Commercial Lending 66 S Pearl St 10th floor, Albany, NY 12207 +1 (866) 708 - 4755
Capital One Bank 380 Hillside Avenue, Williston Park, NY 11596 +1 (516) 742 - 8900
M&T Bank 2248 N Triphammer Rd, Ithaca, NY 14850 +1 (607) 257 - 2224
Citizens Bank Supermarket Branch 710 S Meadow St, Ithaca, NY 14850 +1 (607) 277 - 8500
M&T Bank 195 Front St, Owego, NY 13827 +1 (607) 687 - 3434
Morgan Stanley Smith Barney 10 Phillips St 2, Massena, NY 13662 +1 (315) 769 - 9095
David's Check Cashing 1998 Bruckner Blvd, Bronx, NY 10473 +1 (718) 430 - 9382

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Arkville, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Hempstead, NY, Online Loans in Henrietta, NY, Payday Loans in Hicksville, NY, Bad Credit Loans in Huntington, NY, Payday Loans in Huntington Station, NY, Payday Loans in Islip, NY, Same Day Loans in Ithaca, NY and Payday Loans in Jamestown, NY. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Arkville, NY.

Beautiful sights of Arkville, NY

Payday Loans Available in Arkville, NY By The Following ZIP Codes:

12406

Are Payday Loans Legal In Arkville, New York?

Payday Lending is Prohibited in New York

New York Loan Regulations

Legal StatusProhibited
Interest Rate (APR, %)Prohibited
Maximum Loan AmountProhibited
Minimum Loan TermProhibited
Maximum Loan TermProhibited
Number of Rollovers AllowedProhibited
Finance ChargesProhibited

Arkville, NY payday loan calculator

Welcome to TheGuaranteedLoans, your go-to place for all things loans and finance. In this article, we’ll take a closer look at payday loans in Arkville, New York, including why they’re prohibited, and what alternative options are available.

What are Payday Loans?

Payday loans are short-term loans designed to provide borrowers with quick access to cash. These loans are often marketed to those who have poor credit or are unable to qualify for a traditional loan. In most cases, borrowers are required to repay the loan in full with their next paycheck.

The problem with payday loans is that they come with incredibly high interest rates and fees. This can make it difficult for borrowers to repay the loan on time, trapping them in a cycle of debt that’s difficult to escape from.

Why are Payday Loans Prohibited in New York?

Payday loans are prohibited in New York due to state usury laws that cap the interest rates on loans at 16%. Payday lenders typically charge fees and interest rates that far exceed this cap, making these loans illegal in the state.

While the intention behind these laws is to protect borrowers from predatory lending practices, it also makes it difficult for those in need of quick cash to access the funds they need.

Alternative Options to Payday Loans in Arkville, New York

For those in need of quick cash in Arkville, New York, there are alternative options available. These include:

  • Personal loans from credit unions or online lenders – These loans typically have lower interest rates than payday loans, and can be repaid over a longer period of time.
  • Credit card cash advances – While interest rates on credit card cash advances are typically higher than traditional purchases, they are often lower than payday loan rates.
  • Friends and family – If you’re in a bind, your friends and family may be willing to help you out with a short-term loan.
  • Government assistance programs – Depending on your situation, you may be eligible for government assistance programs that can help you cover your expenses.

Facts and Statistics about Payday Loans in Arkville, New York

  • In 2019, there were no payday lenders licensed to operate in the state of New York
  • The average APR (annual percentage rate) for payday loans in New York is 436%.
  • Payday lenders often target low-income communities and people of color.
  • According to a report from the National Consumer Law Center, payday loans cost Americans $4.1 billion in fees each year.

‘Apply Now’ Section

Looking for a loan in New York? TheGuaranteedLoans can help connect you with potential lenders who can provide you with the cash you need. Our application process is fast and easy – simply fill out our online form and we’ll take care of the rest.

As a connector service, we work to match borrowers with lenders who can provide them with the loan they need. We’re not a direct lender, which means that we don’t provide loans ourselves. Instead, we facilitate connections between borrowers and lenders.

Conclusion

Payday loans are prohibited in Arkville, New York, but there are alternative options available for those in need of quick cash. By exploring these options, you can avoid falling into the trap of debt that payday loans often create. If you’re in need of a loan, don’t hesitate to reach out to TheGuaranteedLoans – we’re here to help.

F.A.Q.

Can I be arrested for not paying back an illegal payday loan in Arkville, New York?

No, you cannot be arrested for not paying back an illegal payday loan in Arkville, New York.

Can I be harassed or threatened by a lender for not paying back an illegal payday loan in Arkville, New York?

No, you cannot be harassed or threatened by a lender for not paying back an illegal payday loan in Arkville, New York. If you have been harassed or threatened, you can report the lender to the New York State Department of Financial Services.