Payday Loans in East Pembroke, New York

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

Company nameAddressZip codePhone number
Davids Check Cashing Inc 868 Prospect Ave, Bronx, NY 10459 +1 (718) 842 - 6699
Walmart Money Center 425 NY-31, Macedon, NY 14502
Community Resource Federal Credit Union 20 Wade Rd, Latham, NY 12110 +1 (518) 783 - 2211
TD Bank 485 Montauk Hwy, West Islip, NY 11795 +1 (631) 422 - 0604
PLS Check Cashing Store 10 E Sunrise Hwy, Freeport, NY 11520 +1 (516) 377 - 1425
Blazing Thunder Sports 1979 NY-11C, North Lawrence, NY 12967 +1 (315) 389 - 5440
Early Bird Capital Inc 80 Cutter Mill Rd 300, Great Neck, NY 11021 +1 (516) 482 - 5402
Citibank 3295 Sunrise Hwy, Wantagh, NY 11793 +1 (516) 882 - 6622
Champion Capital Inc 67 Partition St, Saugerties, NY 12477 +1 (845) 233 - 8207
Visions Federal Credit Union 5788 Cir Dr E, Cicero, NY 13039 +1 (800) 242 - 2120

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in East Pembroke, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Eastchester, NY, Payday Loans in Elmont, NY, Payday Loans in Franklin Square, NY, Payday Loans in Freeport, NY, Payday Loan Without a Credit Check in Guilderland, NY, Payday Loans in Hamburg, NY, Payday Loans in Haverstraw, NY and Payday Loans in Hempstead, 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 East Pembroke, NY.

Are Payday Loans Legal In East Pembroke, 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

East Pembroke, NY payday loan calculator

Understanding Payday Loans in East Pembroke, New York

Payday loans are a type of short-term loan that can be obtained quickly and easily for those in need of emergency funds. They are typically considered to be a type of cash advance, with borrowers agreeing to repay the loan with their next paycheck.

However, it’s important to note that payday loans are actually illegal in the state of New York, including in the town of East Pembroke. Under New York State law, payday loans are considered to be predatory lending, and therefore are prohibited throughout the state.

What Are Payday Loans?

Payday loans are small-dollar, short-term loans that typically range from $100 to $1,000, but can vary depending on the lender and the borrower’s income and credit history. They are often marketed as a quick and easy solution for those in need of emergency cash, with the expectation that the loan will be repaid with the borrower’s next paycheck.

However, payday loans often come with high interest rates and fees, making them difficult to repay and leading to a cycle of debt for many borrowers. As a result, many states, including New York, have enacted laws to protect consumers from predatory lending practices.

Why Are Payday Loans Prohibited in New York?

In 2019, New York Governor Andrew Cuomo signed into law a bill that prohibited payday loans throughout the state. The bill was designed to protect consumers from predatory lending practices, including exorbitant interest rates, hidden fees, and other deceptive practices.

Under New York State law, lenders are not allowed to offer payday loans, either in-store or online. They are also prohibited from advertising or promoting payday loans in the state of New York.

Alternatives to Payday Loans in East Pembroke, New York

While payday loans may not be an option for those in need of emergency cash in East Pembroke, there are alternative options available for borrowers in New York.

  • Credit Union Loans – Credit unions are non-profit financial institutions that offer loans to their members at lower interest rates than traditional banks. They may also have more flexible repayment terms, making them a more affordable option for those in need of emergency loans.
  • Personal Loans – Personal loans are typically unsecured loans that can be obtained from traditional banks, online lenders, or peer-to-peer lending platforms. They often have lower interest rates than payday loans, making them a more affordable option for borrowers.
  • Credit Card Cash Advances – Credit card cash advances can be an option for emergency funds, although they often come with high interest rates and additional fees. It’s important to carefully consider the terms and fees associated with using a credit card cash advance before choosing this option.

Interesting Facts and Statistics About Payday Loans in East Pembroke, New York

  • According to New York State’s Department of Financial Services, more than 123,000 payday loans were issued in the state in 2018, with an average interest rate of over 652%.
  • Since New York State passed a law prohibiting payday loans in 2019, there have been no reported cases of payday lending activity in the state.
  • A 2018 study by The Pew Charitable Trusts found that the average payday loan borrower takes out eight loans per year, with an average loan size of $375.
  • The same study found that payday loan borrowers often end up paying more in fees than they borrowed, with the average borrower paying $520 in fees per year for $375 in loans.

Apply Now for a Loan Through TheGuaranteedLoans

While payday loans may be prohibited in East Pembroke and throughout the state of New York, TheGuaranteedLoans can help connect you with potential lenders who can offer alternative loan options to meet your emergency cash needs.

As a connector service, we work with a network of reputable lenders who can offer personal loans, installment loans, title loans, and other loan options. Simply fill out our online application form and we’ll match you with lenders who can meet your needs.

Keep in mind that TheGuaranteedLoans is not a direct lender, but rather a service that can help you connect with potential lenders. Be sure to carefully read and understand the terms and fees associated with any loan offers you receive before accepting a loan.

Apply now for a loan through TheGuaranteedLoans and get the emergency cash you need today.

F.A.Q.

What should I do if a payday loan lender is threatening me with legal action in East Pembroke, New York?

If a payday loan lender is threatening you with legal action in East Pembroke, New York, you should contact the New York State Department of Financial Services to report the lender's actions. The department may be able to help you resolve the issue and protect your rights.

Is it possible to get a payday loan from a lender in another state and use it in East Pembroke, New York?

No, it is not possible to get a payday loan from a lender in another state and use it in East Pembroke, New York. Payday loans are illegal in East Pembroke, New York, regardless of where the lender is located.