Payday Loans in Himrod, New York

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

Company nameAddressZip codePhone number
Citizens Bank 2200 Penfield Rd, Penfield, NY 14526 +1 (585) 377 - 2330
Wink Check Cashing Corp. 5 499-A S Broadway, Yonkers, NY 10705 +1 (914) 965 - 5459
Ukrainian Federal Credit Union - Syracuse Branch 211 Tompkins St, Syracuse, NY 13204 +1 (315) 471 - 4074
Ace Financial Group 100 Meridian Centre Blvd Suite 350, Rochester, NY 14618 +1 (585) 270 - 5170
Walmart Money Center 1200 Marketplace Dr, Rochester, NY 14623 +1 (585) 292 - 6000
Community Bank, N.A. 1 Main St, Waddington, NY 13694 +1 (315) 388 - 4455
People's United Bank 401 Glen Cove Rd, Roslyn Heights, NY 11577 +1 (516) 299 - 8893
Western Union 622 Lake Flower Ave, Saranac Lake, NY 12983 +1 (518) 891 - 4777
Empire National Bank 1707 Veterans Memorial Hwy 8, Islandia, NY 11749 +1 (631) 348 - 4444
iAdvance Now Inc. 300 RXR Plaza, Uniondale, NY 11556 +1 (866) 448 - 7628

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Himrod, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Henrietta, NY, Same Day Loans in Hicksville, NY, Same Day Loans in Huntington, NY, Emergency Loan in Huntington Station, NY, Online Loans in Islip, NY, Payday Loans in Ithaca, NY, Payday Loans in Jamestown, NY and Payday Loans in Lancaster, 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 Himrod, NY.

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

14842

Are Payday Loans Legal In Himrod, 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

Himrod, NY payday loan calculator

Payday loans have become a popular option for people who need quick access to cash. However, if you’re in Himrod, New York, you may be out of luck. Payday loans are prohibited in New York. In this article, we’ll explore what payday loans are, why they’re prohibited in New York, and what alternatives residents of Himrod have when it comes to accessing quick cash.

What are Payday Loans?

Payday loans are short-term loans that are designed to provide people with quick access to cash when they need it. These loans typically have high interest rates and fees. Payday lenders generally don’t require borrowers to go through a credit check, making them an attractive option for people with poor credit or no credit history.

Payday lenders require borrowers to write a check for the amount of the loan plus fees, postdated for the borrower’s next payday. If the borrower is unable to repay the loan on the due date, the lender deposits the check. If the check bounces, the borrower faces additional fees and penalties.

Why Are Payday Loans Prohibited in New York?

Payday loans are prohibited in New York because of the high interest rates and fees associated with these loans. A cap was placed on interest rates charged by lenders in 1976-1977. This cap currently sits at 25% per year for most lenders and 16% per year for licensed lenders. Payday lenders, however, typically charge upwards of 300% APR – well above what is allowed under New York law.

Additionally, payday lenders have come under scrutiny for their lending practices, which are often viewed as predatory. Many borrowers find themselves trapped in a cycle of debt, unable to pay off their loans and forced to take out new ones just to make ends meet.

Alternatives to Payday Loans in Himrod, New York

While payday loans may not be an option for Himrod residents, there are still several alternatives available for those who need quick access to cash.

  • Credit Cards: If you have a credit card, you can use it to make a purchase or get a cash advance. Cash advances typically come with high interest rates and fees, so they should be used as a last resort.
  • Borrowing from Friends or Family: If you have friends or family members who are willing to lend you money, this may be a better option than taking out a payday loan.
  • Personal Loans: Personal loans may be available through banks or credit unions. These loans typically have lower interest rates than payday loans, making them a better choice for those who need to borrow money.
  • Installment Loans: Installment loans are another option for those who need access to quick cash. These loans are repaid in regular installments, rather than in a lump sum like payday loans.

Interesting Facts and Statistics About Payday Loans

While payday loans may not be an option for residents of Himrod, New York, it’s important to be aware of the impact that these loans can have on people’s lives. Here are some interesting facts and statistics:

  • According to the Consumer Financial Protection Bureau, the average payday loan borrower takes out eight loans per year, with an average loan amount of $375.
  • A study by the Pew Charitable Trusts found that the average payday loan borrower is in debt for five months out of the year, spending an average of $520 in fees to repeatedly borrow the same $375.

Apply Now

If you’re in need of quick cash and none of the alternatives listed above are viable options for you, TheGuaranteedLoans can help. We are a connector service that will facilitate your connection with potential lenders. While we are not a direct lender, we can help you find a loan that meets your needs. Fill out our online application today and see what options are available to you.

F.A.Q.

Can I get a payday loan with bad credit in Himrod, New York?

No, payday loans are not available in Himrod, New York regardless of credit history.

Can I get a payday loan without a checking account in Himrod, New York?

No, payday loans are not available in Himrod, New York regardless of banking status.