Payday Loans in Ashland, New York

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

Company nameAddressZip codePhone number
Teachers Federal Credit Union 2410 N Ocean Ave, Farmingville, NY 11738 +1 (631) 698 - 7000
CFSC Checks Cashed 111th 152 E 111th St, New York, NY 10029 +1 (212) 427 - 3974
Money Federal Credit Union 100 Madison St, Syracuse, NY 13202 +1 (315) 671 - 4000
TD Bank 61 NY-59, Suffern, NY 10901 +1 (845) 357 - 0548
Enterprise Rent-A-Car 2101 W State St, Olean, NY 14760 +1 (716) 373 - 2100
Rothschild North America Inc 1251 6th Ave 51, New York, NY 10020 +1 (212) 403 - 3500
Paul Brown Motors Inc 1145 E State St, Olean, NY 14760 +1 (716) 372 - 0080
Glens Falls National Bank 212 N Main St, Salem, NY 12865 +1 (518) 854 - 3500
Sterling National Bank 363 Hempstead Ave unit a, Malverne, NY 11565 +1 (516) 593 - 3400
Fundamental Capital 100 Garden City Plaza Suite 410, Garden City, NY 11530 +1 (888) 364 - 2070

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ashland, NY, you can try to find different companies in big cities near by. Check out the following pages here: Quick Loan in Rochester, NY, Payday Loans in Rome, NY, Payday Loans in Rye, NY, Payday Loans in Schenectady, NY, Payday Loan Without a Credit Check in Smithtown, NY, Payday Loans in Southampton, NY, Bad Credit Loans in Spring Valley, NY and 24-Hour Loan in Staten Island, 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 Ashland, NY.

Are Payday Loans Legal In Ashland, 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

Ashland, NY payday loan calculator

Payday Loans in Ashland, New York: What You Need to Know

If you’re struggling to make ends meet, you may be considering a payday loan to cover your expenses. However, it’s important to understand that payday loans are illegal in the state of New York, including in Ashland.

What are Payday Loans?

Payday loans are a type of short-term loan that is typically due on or around the borrower’s next payday. These loans are often marketed as a way to bridge the gap between paychecks or to cover unexpected expenses. However, payday loans come with high interest rates and fees, making it difficult for borrowers to repay them on time.

Payday Loans in Ashland, New York

New York state law prohibits payday loans, including in Ashland. The state’s usury laws cap interest rates at 25%, making it impossible for payday lenders to operate within the state legally. Instead, New York state offers a number of alternatives to payday loans, including:

  • Low-interest loans from credit unions
  • Small loans from banks or online lenders
  • Credit counseling services
  • Assistance from non-profit organizations

Why are Payday Loans Prohibited?

Payday loans are often criticized for their high interest rates and fees, which can trap borrowers in a cycle of debt. According to the Consumer Financial Protection Bureau, the average payday loan borrower takes out 10 loans a year and spends 199 days out of the year in debt to the payday lender.

Additionally, payday lenders target low-income and minority communities, often charging higher rates and trapping borrowers in a cycle of debt. For these reasons, many states, including New York, have banned payday loans altogether.

Connect with Potential Lenders

While payday loans are illegal in Ashland, New York, if you are in need of emergency funds, TheGuaranteedLoans can connect you with potential lenders who offer safe and affordable alternatives. As a connector service, we work with a network of trusted lenders who specialize in installment loans, title loans, and other loan options. Our easy-to-use platform allows you to submit an application online and receive offers from multiple lenders in minutes.

Apply Now

If you’re in need of emergency funds, fill out our online application today. Our process is fast, secure and easy – and there’s no obligation to accept any offer you receive.

Interesting Facts and Statistics

  • In New York, payday loans are capped at 25% interest rate
  • Payday loans trap borrowers in a cycle of debt due to their high interest rates and fees
  • According to a Pew Charitable Trust report, the average payday loan borrower spends 199 days out of the year in debt to the payday lender
  • Payday lenders target low-income and minority communities, often charging higher rates and fees
  • New York state offers a number of alternatives to payday loans, including low-interest loans from credit unions and small loans from banks or online lenders

Conclusion

While payday loans may seem like a quick fix for financial emergencies, they often come with high interest rates and fees that can trap borrowers in a cycle of debt. In Ashland, New York, payday loans are illegal due to the state’s usury laws. However, there are safe and affordable alternatives to payday loans available. If you’re in need of emergency funds, consider exploring these alternatives and applying for a loan through TheGuaranteedLoans

F.A.Q.

What are the penalties for offering or taking out a payday loan in Ashland, New York?

Offering or taking out a payday loan in Ashland, New York is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Ashland, New York?

No, there are no exceptions to the payday loan prohibition in Ashland, New York.