Payday Loans in Freeville, New York

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

Company nameAddressZip codePhone number
Jackson Hewitt Tax Service 3018 East Ave, Central Square, NY 13036 +1 (315) 409 - 7507
Apple Bank 1000 Merchants Concourse, Westbury, NY 11590 +1 (516) 832 - 8020
Capital One Bank 380 Hillside Avenue, Williston Park, NY 11596 +1 (516) 742 - 8900
LeCours, Chertok & Yates, LLP 59 Church St, Saratoga Springs, NY 12866 +1 (518) 583 - 4600
NBT Bank 6563 Weighlock Dr, East Syracuse, NY 13057 +1 (315) 437 - 2546
Multiservices Express Corp. 207 Post Ave, Westbury, NY 11590 +1 (516) 997 - 3080
GPO Federal Credit Union 4311 Middle Settlement Rd, New Hartford, NY 13413 +1 (315) 724 - 1654
Western Union Check Cashing Svcs, 1517 Jericho Tpke Sunrise, New Hyde Park, NY 11040 +1 (516) 488 - 0874
KeyBank 10 E Genesee St, Baldwinsville, NY 13027 +1 (315) 635 - 5021
Geddes Federal Savings & Loan Association 240 W Seneca St, Manlius, NY 13104 +1 (315) 468 - 6281

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Freeville, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan for Huntington, NY, Guaranteed Loans in Huntington Station, NY, No Credit Check Loans in Islip, NY, Bad Credit Loans in Ithaca, NY, Payday Loan Without a Credit Check 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 Freeville, NY.

Beautiful sights of Freeville, NY

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

13068

Are Payday Loans Legal In Freeville, 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

Freeville, NY payday loan calculator

Payday loans are a type of small, short-term loan that is typically due on the borrower’s next payday. These loans are often marketed as a quick and easy solution for people who need money to cover unexpected expenses or bills, but cannot wait until their next paycheck. However, in the state of New York, payday loans are prohibited by law.

The Payday Loan Ban in New York

New York state law prohibits the charging of interest rates above 25% per year for loans under $250,000. This means that payday loans, which typically have APRs of 400% or higher, are illegal in the state. In fact, New York’s Department of Financial Services has taken action against several payday lenders operating in the state, resulting in millions of dollars in settlements and fines.

Why are Payday Loans Banned in New York?

The state of New York has determined that payday loans are predatory and harmful to consumers. Payday lenders target low-income individuals who are often unable to repay their loans on time, leading to a cycle of debt that can be difficult to escape. In addition, payday loans often come with hidden fees and terms that can further trap borrowers in debt.

Alternatives to Payday Loans in Freeville, New York

Just because payday loans are illegal in New York does not mean that there are no other options for people who need money quickly. Here are a few alternatives to payday loans available in Freeville and other parts of New York:

  • Credit Union Loans: Credit unions are non-profit organizations that offer loans to their members at lower interest rates than traditional banks. Many credit unions also offer small-dollar loans specifically designed to help people in need of short-term credit.
  • Personal Loans: Personal loans are another option for people who need to borrow money for unexpected expenses. These loans are typically offered by banks, credit unions, and online lenders, and can be used for a variety of purposes.
  • Credit Card Cash Advances: While not ideal, a credit card cash advance can provide quick access to cash in an emergency. Keep in mind that cash advances often come with high fees and interest rates, so it is important to pay off the balance as soon as possible.

Interesting Facts and Statistics about Payday Loans in Freeville, New York

  • In 2018, the average payday loan borrower in New York had an income of $22,476 per year.
  • Despite the ban on payday loans, some lenders continue to operate in New York by offering installment loans with triple-digit interest rates.
  • A study by the Center for Responsible Lending found that payday loan borrowers in New York pay an average of $975 in fees for a $325 loan.

Apply Now with TheGuaranteedLoans

If you are in need of a loan in Freeville, New York, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we work with a network of reputable lenders who offer personal loans, installment loans, and other types of credit. To get started, simply fill out our online application and we will match you with lenders who meet your needs.

Remember, borrowing money is a serious decision that should not be taken lightly. Before applying for a loan, make sure you understand the terms and conditions, including interest rates, fees, and repayment schedules. If you have any questions or concerns, don’t hesitate to contact us for assistance.

F.A.Q.

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

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

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

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