Payday Loans in Cassville, New York

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

Company nameAddressZip codePhone number
Watertown Savings Bank - Sackets Harbor Branch 100 W Main St, Sackets Harbor, NY 13685 +1 (315) 646 - 4628
Tioga State Bank 1 N Main St, Spencer, NY 14883 +1 (607) 589 - 7000
Countryside Federal Credit Union 5720 Commons Park, East Syracuse, NY 13057 +1 (315) 445 - 2300
Americu Credit Union 1053 NY-12, Waterville, NY 13480
Trans Funding Inc 159 W 53rd St 19E, New York, NY 10019 +1 (212) 307 - 1545
Tompkins Bank of Castile Genesee Community College, 1 College Rd, Batavia, NY 14020
Cornerstone Funding 866 McLean Ave, Yonkers, NY 10704 +1 (914) 338 - 7333
CFSC Checks Cashed 2254 1st Ave 2254 1st Avenue, New York, NY 10029 +1 (212) 348 - 6278
HSBC 160 Walt Whitman Rd 1083, Huntington Station, NY 11746 +1 (631) 423 - 7201
Community Bank, N.A. 28499 NY-3, Black River, NY 13612 +1 (315) 773 - 5686

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cassville, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Clifton Park, NY, Emergency Loan in Commack, NY, Same Day Loans in Coram, NY, Payday Loans in East Meadow, NY, Payday Loans in Eastchester, NY, Payday Loans in Elmont, NY, Payday Loans in Franklin Square, NY and Payday Loans in Freeport, 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 Cassville, NY.

Are Payday Loans Legal In Cassville, 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

Cassville, NY payday loan calculator

When experiencing financial difficulties, payday loans can be a quick solution for those who need money urgently. However, in Cassville, New York, payday loans are prohibited by law. It is crucial to understand the regulations surrounding payday loans in Cassville to avoid any legal complications and find alternative solutions.

What are Payday Loans?

Payday loans are short-term loans designed for individuals who require urgent funds. Typically, payday loans have a higher interest rate than traditional loans and must be repaid on the borrower’s next payday, hence the name. This type of loan is easy to obtain, whether online or from a storefront lender, with minimal requirements.

However, payday loans have received criticism due to their high interest rates and potential to cause a cycle of debt for borrowers. In Cassville, New York, and other states where payday loans are illegal, alternative lending services and financial assistance programs are available.

Why are Payday Loans Prohibited in Cassville?

In New York, payday loans are illegal and considered predatory lending. The law prohibits lenders from charging an annual percentage rate (APR) of more than 25% for loans under $10,000. Since payday loans have a much higher interest rate due to their short-term nature, they violate this law. Additionally, payday lenders tend to prey on low-income borrowers who are less likely to repay the loans on time, leading to a cycle of debt.

Alternative Financial Assistance Programs

Fortunately, in Cassville, New York, and other states where payday loans are not available, there are alternative financial assistance programs. For example, credit unions provide short-term loans for their members with no or low-interest rates. Additionally, some community organizations and charities offer cash assistance for those in need.

Another option is to seek assistance from government programs, such as Temporary Assistance for Needy Families (TANF), which provides cash assistance, job training, and educational programs for low-income families. The Supplemental Nutrition Assistance Program (SNAP) can also assist low-income households with food and nutrition.

Interesting Facts & Statistics about Payday Loans in Cassville, New York

  • According to a report by the Consumer Financial Protection Bureau, approximately 12 million Americans use payday loans each year, with an average interest rate of 400% APR.
  • In 2019, New York City sued 35 online payday lenders for operating in the state and violating state law.
  • Payday lenders target low-income individuals and communities of color, leading to a cycle of debt and financial insecurity.

Apply Now with TheGuaranteedLoans

At TheGuaranteedLoans, we understand that everyone experiences financial difficulties and may need urgent funds. As a connection service, we can help match you with potential lenders who specialize in your financial needs. By filling out our online application, you may get connected with a lender in Cassville who can offer a suitable solution for your financial situation.

We want to emphasize that TheGuaranteedLoans is not a direct lender and does not provide loans. Our service is legally compliant and connects borrowers with lenders who have a suitable financial solution for their needs. We take pride in working with only reputable and trustworthy lenders to ensure our users are connected with the best possible financial assistance.

Conclusion

Payday loans may seem like a quick solution for financial difficulties, but in Cassville, New York, and other states where they are illegal, it is essential to seek alternative financial assistance programs. Credit unions, community organizations, and government programs offer reasonable solutions for those in need. As a connection service, TheGuaranteedLoans can help match you with potential lenders who specialize in your financial needs. Remember to research all financial options available to you before taking out a loan.

F.A.Q.

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

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

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

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