Payday Loans in Dresden, New York

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

Company nameAddressZip codePhone number
NBT Bank 5390 W Genesee St, Camillus, NY 13031 +1 (315) 487 - 2180
Syracuse Postal Credit Union 5640 E Taft Rd, Syracuse, NY 13212 +1 (315) 458 - 5550
TD Bank 105 E Central Ave, Pearl River, NY 10965 +1 (845) 735 - 5800
Starr Marine Agency Inc 399 Park Ave 1700, New York, NY 10022 +1 (646) 227 - 6449
Anthony J. Pietrafesa Esq - Consumer Lawyer 313 E Willow St 202, Syracuse, NY 13203 +1 (518) 218 - 0851
KeyBank 131 Oriskany Blvd, Whitesboro, NY 13492 +1 (315) 736 - 7503
National Association of Letter Carriers Branch 6000 630 Broadway, Amityville, NY 11701 +1 (631) 789 - 1616
NBT Bank 3121 Vestal Pkwy E, Vestal, NY 13851 +1 (607) 797 - 3773
New York Loan Company 50 W 47th St 319, New York, NY 10036 +1 (646) 956 - 5603
Ecida 95 Perry St 403, Buffalo, NY 14203 +1 (716) 856 - 6525

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Dresden, NY, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Elmont, NY, Payday Loan Companies in Franklin Square, NY, Payday Loan Companies in Freeport, NY, Payday Loans in Guilderland, NY, Short-term Loans in Hamburg, NY, Payday Loan for Haverstraw, NY, Payday Loans in Hempstead, NY and Payday Loans in Henrietta, 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 Dresden, NY.

Beautiful sights of Dresden, NY

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

14441

Are Payday Loans Legal In Dresden, 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

Dresden, NY payday loan calculator

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

When money is tight and you find yourself in a financial bind, payday loans can seem like a tempting solution to your problems. However, if you live in Dresden, New York, it’s important to understand that payday loans are prohibited in the state. In this article, we’ll take a closer look at what payday loans are, how they work, and the regulations surrounding them in New York.

What are Payday Loans?

A payday loan is a small, short-term loan that is typically due on your next payday. These loans are designed to help people bridge the gap between paychecks when unexpected expenses arise. In order to qualify for a payday loan, all you need is proof of income and a checking account.

While payday loans can seem like a quick and easy solution to financial emergencies, they often come with high interest rates and fees that can trap borrowers in a cycle of debt. In fact, according to the Consumer Financial Protection Bureau, 80% of payday loans are rolled over or followed by another loan within 14 days.

The Prohibition of Payday Loans in New York

While payday loans are legal in many states, they are prohibited in New York. The state’s usury laws cap interest rates at 25%, making it impossible for payday lenders to operate within the state. Additionally, the New York Department of Financial Services has issued cease and desist orders to several payday lenders operating online, making it clear that such lenders are not welcome in New York.

Alternatives to Payday Loans in Dresden, New York

Just because payday loans are prohibited in New York doesn’t mean that there aren’t other options available to those in need of emergency funds. Some alternatives to payday loans in Dresden include:

  • Credit unions: Many credit unions offer small loans with low interest rates.
  • Personal loans: Some banks and online lenders offer personal loans specifically designed for people with poor credit.
  • Credit cards: While credit cards come with their own risks, they can be a better option than payday loans as long as you pay off the balance in full each month.
  • Government assistance: If you’re in a particularly dire financial situation, you may qualify for government assistance such as SNAP, TANF, or LIHEAP.

Important Facts and Statistics

While payday loans are prohibited in New York, that hasn’t stopped some lenders from trying to operate within the state. According to a 2019 report from the New York Department of Financial Services, some online payday lenders are still targeting New York consumers, often charging interest rates as high as 1000%. Additionally, the report found that payday lenders disproportionately target communities of color and low-income neighborhoods.

Apply Now

If you’re in need of emergency funds, TheGuaranteedLoans can help connect you with potential lenders who can offer alternatives to payday loans. As a connector service, we are not a direct lender, but we can help facilitate the process of finding a lender who can meet your needs. Fill out an online application on our website to get started today.

In conclusion

While payday loans may seem like a quick fix for financial emergencies, it’s important to remember that they often come with high interest rates and fees that can trap borrowers in debt. In Dresden, New York, payday loans are prohibited, but there are still plenty of alternatives available for those in need. As always, it’s important to do your research and carefully consider all of your options before making any financial decisions.

F.A.Q.

Can I be charged with a crime for taking out a payday loan in Dresden, New York?

It is illegal for lenders to offer payday loans in Dresden, New York, so borrowers cannot be charged with a crime for taking out a payday loan. However, lenders may face criminal charges for engaging in illegal lending practices.

What should I do if I have already taken out a payday loan in Dresden, New York?

If you have already taken out a payday loan in Dresden, New York, you should contact the lender to try to negotiate a repayment plan. If the lender is unwilling to work with you, you may want to seek out alternative forms of financing or seek legal advice.