Payday Loans in Cleverdale, New York

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

Company nameAddressZip codePhone number
Five Star Bank 107 Main St, Salamanca, NY 14779 +1 (716) 945 - 3500
Draeger Ignition Interlock 1542 Tupper Rd Unit 1, Long Lake, NY 12847 +1 (800) 332 - 6858
NBT Bank 433 State St 130, Schenectady, NY 12305 +1 (518) 381 - 4512
Lincoln Financial Group 105 Maxess Rd STE 300, Melville, NY 11747 +1 (631) 227 - 0600
Atn Check Cashing Corporation 11303 Sutphin Blvd, Jamaica, NY 11435 +1 (718) 925 - 0404
People's United Bank 135 W Broadway, Port Jefferson, NY 11777 +1 (631) 474 - 7200
People's United Bank 32 S Middletown Rd, Nanuet, NY 10954 +1 (845) 624 - 4240
Sterling National Bank 1133 Westchester Ave, White Plains, NY 10604 +1 (914) 696 - 0209
Wells Fargo Bank 103 Old Country Rd, Carle Place, NY 11514 +1 (516) 741 - 4089
General Revenue Corporation 325 Daniel Zenker Dr, Horseheads, NY 14845 +1 (800) 727 - 9562

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Cleverdale, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Huntington, NY, Guaranteed Loans in Huntington Station, NY, Payday Loan Without a Credit Check in Islip, NY, Payday Loans in Ithaca, NY, Payday Loans in Jamestown, NY, Payday Loans in Lancaster, NY, Payday Loans in Levittown, NY and Payday Loans in Long Beach, 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 Cleverdale, NY.

Are Payday Loans Legal In Cleverdale, 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

Cleverdale, NY payday loan calculator

Understanding Payday Loans in Cleverdale, New York

Payday loans, also known as cash advances, are prohibited in New York. This means you won’t find any payday loan stores in Cleverdale or any other city in New York. The state government has taken a strong stance against these types of loans due to their high-interest rates, which can trap borrowers in a cycle of debt.

Why are Payday Loans banned in New York?

Payday loans are considered predatory because they are designed to target people who are in desperate need of cash and are often unable to pay back the loan in time. The interest rates on these loans can reach as high as 400%, making it difficult for borrowers to pay them back on time. This leads to a cycle of debt, where borrowers take out multiple loans to pay off their existing debts, which only adds to their financial burden.

The state of New York recognizes this and has taken steps to protect its citizens from these predatory lending practices. In 2013, the state’s Department of Financial Services issued a cease and desist order to all payday lenders in the state, effectively making it illegal to offer payday loans to New York residents.

Alternatives to Payday Loans in Cleverdale, New York

While payday loans may be illegal in New York, there are still plenty of options available to those who need access to quick cash. Some of these options include:

  • Personal Loans: A personal loan is a type of unsecured loan that does not require collateral. These loans typically have lower interest rates than payday loans and longer repayment terms.
  • Credit Cards: Credit cards offer a line of credit that can be used to make purchases or withdraw cash. While interest rates can be high, they are generally lower than payday loans, especially if you pay off the balance in full each month.
  • Government Assistance: If you are facing financial hardship, there may be government assistance programs available to help you. These include food stamps, utility assistance, and emergency financial assistance.

Interesting Facts About Payday Loans in Cleverdale, New York

Fact #1 – Payday loans are prohibited in New York.

As mentioned earlier, payday loans are prohibited in the state of New York. This includes all types of payday loans, including online loans, which are not subject to state regulations in other states. If you live in Cleverdale or anywhere else in New York, you will not be able to get a payday loan from a licensed lender.

Fact #2 – New York has some of the strongest usury laws in the country.

Usury laws are designed to protect borrowers from excessive interest rates and predatory lending practices. In New York, the maximum interest rate that can be charged on a loan is 16%, making it one of the lowest in the country. This means that lenders have little incentive to offer payday loans in the state, even if they were legal.

Fact #3 – Payday loan companies have been known to circumvent state laws.

While payday loan companies are prohibited from offering loans to New York residents, some unscrupulous lenders may attempt to lend money to New York residents through online platforms. It is important to be aware of these scams and to only work with a reputable lender.

Apply Now

If you need access to quick cash, TheGuaranteedLoans can help. We are a loan connection service that will connect you with potential lenders in Cleverdale and throughout New York. Our streamlined application process makes it easy to apply online and get connected with a lender who can offer you a favorable loan. Remember, we are not a direct lender, but rather a connector service that will help you find a lender willing to work with you. Get started today!

Note: TheGuaranteedLoans is a loan connector service, not a direct lender. We do not make credit decisions or broker loans.

F.A.Q.

Can I be sued for not paying back a payday loan in Cleverdale, New York?

Because payday loans are illegal in Cleverdale, New York, lenders cannot sue borrowers for not paying back the loan. However, borrowers may still be responsible for paying back any money they borrowed, even if the loan was illegal.

Can payday loan lenders garnish my wages in Cleverdale, New York?

No, payday loan lenders cannot garnish your wages in Cleverdale, New York because payday loans are illegal in the state.