Payday Loans in Durhamville, New York

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

Company nameAddressZip codePhone number
Community Bank, N.A. 39 N Main St, Alfred, NY 14802 +1 (607) 587 - 8444
People's United Bank 977 Central Park Ave, Scarsdale, NY 10583 +1 (914) 725 - 2105
Chase Bank 249 N Main St, Minoa, NY 13116 +1 (315) 656 - 4183
AmeriCU 6414 NY-31, Cicero, NY 13039 +1 (800) 388 - 2000
Jackson Hewitt Tax Service 101 Sanford farms shopping Center, Amsterdam, NY 12010 +1 (518) 842 - 2106
Capital Bank 25 Park Ave, Clifton Park, NY 12065 +1 (518) 579 - 2080
Chase Bank 180 Atlantic Ave, Freeport, NY 11520 +1 (516) 623 - 8100
Lend You Cash 275 N Pointe Pkwy, Buffalo, NY 14228 +1 (888) 743 - 6229
Self Reliance New York Federal Credit Union 225 N 4th St, Lindenhurst, NY 11757 +1 (631) 867 - 5990
Northwest Bank 3488 Amelia Dr, Orchard Park, NY 14127 +1 (716) 822 - 6900

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Durhamville, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Uniondale, NY, Payday Loans in Utica, NY, Payday Loan for Valley Stream, NY, Online Loans in Warwick, NY, Payday Loans in Webster, NY, Online Loans in West Babylon, NY, Payday Loans in White Plains, NY and Payday Loans in Yonkers, 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 Durhamville, NY.

Beautiful sights of Durhamville, NY

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

13054

Are Payday Loans Legal In Durhamville, 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

Durhamville, NY payday loan calculator

Everything You Need to Know About Payday Loans in Durhamville, New York

Payday loans are a popular option for those facing a financial emergency. However, it is important to note that these loans are prohibited in the state of New York, including in Durhamville. While payday loans might seem like a quick fix, they can often lead to a cycle of debt and financial hardship. In this article, we’ll take a closer look at payday loans in Durhamville, New York and why they are not a viable option for those in need of financial assistance.

What Are Payday Loans?

Payday loans are short-term loans that are typically due on the borrower’s next payday. These loans are usually for a small amount of money, typically no more than $500, and are meant to be used for emergencies or unexpected expenses. The borrower writes a post-dated check for the amount borrowed plus fees and interest, and the lender agrees not to cash the check until the borrower’s next payday.

While payday loans might seem like a convenient way to get fast cash, they come with high fees and interest rates. In many cases, borrowers end up trapped in a cycle of debt, taking out additional loans to pay off previous ones, and accruing more interest and fees in the process.

Payday Loans in Durhamville, New York

It is important to note that payday loans are prohibited in the state of New York, including in Durhamville. The state’s Department of Financial Services warns consumers that payday lending is illegal in New York and that borrowers should not take out payday loans from unlicensed lenders.

While there are no storefront payday lenders in Durhamville, it is important to be cautious of online lenders claiming to offer payday loans to New York residents. These lenders may not be licensed to do business in the state and may charge exorbitant fees and interest rates.

Why Payday Loans are Not a Viable Option

Payday loans often come with high fees and interest rates, making them a risky option for borrowers. In many cases, borrowers end up trapped in a cycle of debt, taking out additional loans to pay off previous ones, and accruing more interest and fees in the process. This cycle can be difficult to break and can lead to long-term financial hardship.

Furthermore, payday lenders often target low-income individuals and those living paycheck to paycheck, who may be unable to pay back the loan on their next payday. This can further exacerbate their financial struggles, causing them to turn to other high-cost forms of credit such as credit card debt or overdraft fees.

Interesting Facts about Payday Loans

  • Payday loans are banned in 14 states, including New York.
  • The average payday loan borrower takes out eight loans per year.
  • The average payday loan in the United States is for $375 and carries an interest rate of 391%.
  • In 2019, the payday lending industry raked in $9 billion in fees alone.

As you can see, payday loans are a costly and risky option for those in need of financial assistance. It is important to explore other alternatives, such as personal loans, credit counseling, or budgeting assistance from a non-profit organization.

Apply Now

If you are in need of financial assistance, TheGuaranteedLoans can help connect you with potential lenders who may be able to provide personal loans that fit your needs. Please note that TheGuaranteedLoans is a connector service, not a direct lender. We do not make credit decisions, and we do not guarantee loan approval. However, we work with a network of trustworthy lenders who may be able to provide the financial assistance you need. To get started, simply fill out our easy online application.

Remember, payday loans are illegal in New York and can lead to long-term financial hardship. Explore other options and make a financial plan that works for you and your situation.

F.A.Q.

Can a payday loan company file a lawsuit against me in Durhamville, New York?

No, a payday loan company cannot file a lawsuit against you in Durhamville, New York because these loans are illegal in the state.

Are there any federal laws that apply to payday loans in Durhamville, New York?

Yes, there are federal laws that apply to payday loans in Durhamville, New York, including the Military Lending Act and the Truth in Lending Act. These laws provide protections for consumers and regulate the practices of payday lenders.