Payday Loans in Gallupville, New York

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

Company nameAddressZip codePhone number
Allstar Auto 2851 Vestal Pkwy W 1059, Vestal, NY 13850 +1 (607) 786 - 2434
Capital One Bank 225 Glen Cove Rd, Carle Place, NY 11514 +1 (516) 741 - 5800
Royal Alliance Associates Inc 110 Lomond Ct 1, Utica, NY 13502 +1 (315) 724 - 5196
Solid Bank 41 W Merrick Rd, Valley Stream, NY 11580 +1 (516) 837 - 9584
Capital One Bank 46 Windmill Ln, Southampton, NY 11968 +1 (631) 283 - 8300
Amityville Payroll Services 575 Broadway, Amityville, NY 11701 +1 (631) 789 - 3340
Thrivent Financial 77 Deer Park Ave, Babylon, NY 11702 +1 (516) 909 - 3513
PLS Check Cashing 6901 4th Ave, Brooklyn, NY 11209 +1 (718) 745 - 2999
People's United Bank 245 NY-25A, Rocky Point, NY 11778 +1 (631) 821 - 8300
CV Starr & Co 233 Federal Hill Rd, Brewster, NY 10509 +1 (845) 279 - 1801

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gallupville, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Lancaster, NY, Payday Loans in Levittown, NY, Payday Loans in Long Beach, NY, Payday Loans in Manlius, NY, Payday Loans in Mount Vernon, NY, Payday Loans in New City, NY, 24-Hour Loan in New Rochelle, NY and Payday Loans in New York, 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 Gallupville, NY.

Are Payday Loans Legal In Gallupville, 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

Gallupville, NY payday loan calculator

Payday loans are often touted as a quick and easy way to get cash when you need it most. However, in Gallupville, New York, these types of loans are prohibited. The state of New York has taken a strong stance against payday lending, as these loans can often trap individuals in a cycle of debt that’s difficult to break free from.

What are Payday Loans?

Before we dive into why payday loans are prohibited in Gallupville and the rest of New York, let’s first define what these loans are. Payday loans are short-term loans that typically range from $100 to $1,000. They’re designed to be repaid in full when the borrower receives their next paycheck, hence the name “payday loans”.

The application process for payday loans is fairly simple. Borrowers are required to submit proof of income, employment, and a valid bank account. Lenders typically don’t conduct a credit check, making it easier for individuals with poor credit to qualify for these loans.

Why are Payday Loans Prohibited in Gallupville, NY?

New York has strict laws in place to protect consumers from predatory lending practices. In 2006, the state enacted the Payday Loan Reform Act, which effectively banned payday lending in the state. The law was enacted after lawmakers discovered that payday lenders were charging interest rates as high as 400%.

While this law applies to the entire state of New York, Gallupville residents in particular may be at risk for payday lending scams due to the area’s rural nature. Scammers often target low-income individuals who live in rural areas, as they may be in more desperate need of cash and thus more likely to fall for predatory lending practices.

What are the Alternatives to Payday Loans in Gallupville?

While payday loans are prohibited in Gallupville, there are still a variety of alternatives available to individuals who may be in need of quick cash.

  • Credit unions: Credit unions typically offer low-interest loans to their members. If you’re not a member of a credit union, consider joining one to take advantage of their lending services.
  • Credit counseling: If you’re struggling with debt, credit counseling can help you create a budget and develop an action plan to get out of debt.
  • Emergency assistance: If you’re facing a financial emergency, such as an unexpected medical expense, consider reaching out to local charities or government assistance programs for help.

Interesting Facts and Statistics about Payday Loans in Gallupville, NY

  • Payday loans are prohibited in New York but it is still ongoing in some illegal shops and borrowers may face higher interest rates and fees.
  • The average APR on a payday loan in New York is over 600%.
  • New York State Department of Financial Services received nearly 30,000 consumer complaints about payday loans between 2011 and 2019.

Apply Now with TheGuaranteedLoans

While payday loans are not available in Gallupville, individuals who are in need of quick cash can apply for other types of loans through TheGuaranteedLoans. As a connector service, we help individuals connect with potential lenders who may be able to offer them the cash they need.

It’s important to note that TheGuaranteedLoans is not a direct lender and we don’t make credit decisions. However, we do work with a network of reputable lenders who can offer a variety of lending options to meet your needs.

If you’re in need of cash and want to explore your lending options, visit our website and fill out the online application today.

F.A.Q.

Can a payday loan company garnish my wages in Gallupville, New York?

No, a payday loan company cannot garnish your wages in Gallupville, New York because these loans are illegal in the state.

Can a payday loan company repossess my property in Gallupville, New York?

No, a payday loan company cannot repossess your property in Gallupville, New York because these loans are illegal in the state.