Payday Loans in Jamesport, New York

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

Company nameAddressZip codePhone number
M&T Bank 76 S Erie St, Mayville, NY 14757 +1 (716) 753 - 2135
Regina Check Cashing Corporation 739 W Nyack Rd, West Nyack, NY 10994 +1 (845) 353 - 6405
Grizzle's 267 Margaret St, Plattsburgh, NY 12901 +1 (518) 570 - 1146
Morgan Stanley 215 Washington St, Watertown, NY 13601 +1 (315) 788 - 5800
Jackson Hewitt Tax Service 1201 NY-300, Newburgh, NY 12550 +1 (845) 863 - 1040
Rite Aid Pharmacy 214 Central Ave, Silver Creek, NY 14136 +1 (716) 934 - 3980
Community Bank, N.A. 1608 W Main St, Woodhull, NY 14898 +1 (607) 458 - 5155
Capital One Bank 340 Washington Ave, Brentwood, NY 11717 +1 (631) 231 - 6100
Niagara Regional Federal Credit Union 1285 Erie Ave, North Tonawanda, NY 14120 +1 (716) 694 - 7344
NBT Bank 1148 Erie Blvd W, Rome, NY 13440 +1 (315) 339 - 3200

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Jamesport, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Without a Credit Check in Haverstraw, NY, Payday Loan Companies in Hempstead, NY, Payday Loans in Henrietta, NY, No Credit Check Loans in Hicksville, NY, Payday Loans in Huntington, NY, Payday Loans in Huntington Station, NY, Payday Loan for Islip, NY and 24-Hour Loan in Ithaca, 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 Jamesport, NY.

Beautiful sights of Jamesport, NY

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

11947

Are Payday Loans Legal In Jamesport, 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

Jamesport, NY payday loan calculator

Payday loans are a type of short-term, high interest loan that are typically used by people who need to bridge the gap between paydays. While these loans can be helpful for some, they come with several risks and should be used with caution. In Jamesport, New York, payday loans are illegal and consumers should be aware of the consequences of using them.

What are Payday loans?

Payday loans are a type of loan that are designed to be paid back in a short period of time, typically within a few weeks. They are usually small loans, ranging from a few hundred dollars to a couple thousand dollars, and are intended to help people who are in need of emergency funds. The repayment schedule for these loans is generally tied to the borrower’s next paycheck, hence the name “payday loan”.

However, payday loans can be extremely expensive. The interest rates on these loans are often very high, sometimes reaching 400% or more. This can lead to a cycle of debt, where borrowers keep taking out new loans to pay off old ones, racking up more and more interest charges in the process.

Payday Loans in Jamesport, New York

In New York, payday loans are illegal. According to New York State law, it is illegal for any lender to make payday loans, whether in-person, by telephone, or over the Internet. This means that there are no payday lenders operating legally in Jamesport, New York.

However, some lenders may try to take advantage of consumers by offering payday loans online. These lenders may claim to be based in other states or even other countries, but they are still subject to New York State law. Consumers should be wary of any lender that is not licensed by the New York State Department of Financial Services.

The Risks of Payday Loans

Payday loans are considered high-risk loans for a reason. They come with several risks that borrowers should be aware of before they take out a loan.

High Interest Rates

The interest rates on payday loans are extremely high, often reaching rates of 400% or more. This means that if you borrow $500, you could end up paying back $2000 or more by the time you repay the loan. This can lead to a cycle of debt, where borrowers keep taking out new loans to pay off old ones, racking up more and more interest charges in the process.

Short Repayment Terms

Payday loans typically have very short repayment terms, often just a few weeks. This can be a problem for many borrowers, who may not be able to come up with the full amount of the loan plus interest in such a short period of time. This can lead to missed payments and even more fees and charges.

Debt Collection Practices

If you default on a payday loan, the lender may resort to aggressive debt collection practices. This can include calling you at home and at work, contacting your friends and family, and even taking legal action against you. These practices can be very stressful and can add to the financial burden of the loan.

Interesting facts or statistics about Payday loans in Jamesport, New York

  • In 2006, the New York State Assembly passed legislation to prohibit payday lending in the state. This law went into effect in 2010 and has been successful in curbing predatory lending practices.
  • Despite the law, some lenders still attempt to offer online payday loans to consumers in New York. In 2018, the New York State Department of Financial Services sent cease-and-desist letters to 35 online lenders operating illegally in the state.
  • According to a 2019 report by the Center for Responsible Lending, payday loans cost Americans $9 billion in fees and interest each year.

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If you are in need of emergency funds, there may be other options available to you. Consider speaking to your employer about a salary advance, or look into low-interest personal loans from a reputable bank or credit union. It is important to exhaust all other options before turning to payday loans.

However, if you have decided that a payday loan is the best option for you, TheGuaranteedLoans can help. We are a connector service that works with a network of trusted lenders to help you find the loan that is right for you. Our online application process is quick and easy, and we will work with you to find a lender that meets your needs. Remember, we are a connector service, not a direct lender, so you can trust that we have your best interests in mind.

At TheGuaranteedLoans, we are committed to helping you find the financial solutions you need. Visit our website today to apply for a loan or to learn more about our services.

F.A.Q.

Can I be sued for not paying back a payday loan in Jamesport, New York?

Because payday loans are illegal in Jamesport, New York, lenders cannot sue borrowers for not paying back the loan. However, borrowers may still be responsible for paying back any money they borrowed, even if the loan was illegal.

Can payday loan lenders garnish my wages in Jamesport, New York?

No, payday loan lenders cannot garnish your wages in Jamesport, New York because payday loans are illegal in the state.