Payday Loans in Java Village, New York

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

Company nameAddressZip codePhone number
KeyBank 11 Division St, Amsterdam, NY 12010 +1 (518) 842 - 7226
KeyBank 115 S Main St, New City, NY 10956 +1 (845) 639 - 7421
M&T Bank 4958 NY-22, Amenia, NY 12501 +1 (845) 373 - 8101
Raymond James Financial Services 43 Durkee St, Plattsburgh, NY 12901 +1 (518) 563 - 7537
Arthur Springer - Raymond James 135 Crossways Park Dr, Woodbury, NY 11797 +1 (516) 364 - 7495
G T Bethel Federal CU 11033 Guy R Brewer Blvd, Jamaica, NY 11433 +1 (718) 739 - 6750
Community Bank, N.A. 84 Bridge St, Carthage, NY 13619 +1 (315) 493 - 0600
Walmart Money Center 101 Sanford farms shopping Center, Amsterdam, NY 12010
Roslyn Savings Bank, a division of New York Community Bank 2 Muttontown Eastwoods Rd, Syosset, NY 11791 +1 (516) 677 - 5300
Community Bank, N.A. 37 Main St, Canaseraga, NY 14822 +1 (607) 545 - 6516

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Java Village, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Staten Island, NY, Short-term Loans in Syracuse, NY, Payday Loans in Troy, NY, Payday Loans in Uniondale, NY, Payday Loans in Utica, NY, Emergency Loan in Valley Stream, NY, Same Day Loans in Warwick, NY and Emergency Loan in Webster, 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 Java Village, NY.

Are Payday Loans Legal In Java Village, 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

Java Village, NY payday loan calculator

In today’s fast-paced world, it is not uncommon to experience financial difficulties. Whether it’s a medical emergency, a car breakdown, or unexpected home repairs, these situations can be expensive. Payday loans have become a popular option for people in need of quick cash. However, it is important to understand that payday loans are illegal in New York.

What are Payday Loans?

Payday loans, also known as cash advance loans, are short-term loans designed to provide borrowers with quick access to cash. These loans are typically granted for two weeks and require the borrower to repay the balance, plus interest and fees, on their next payday. The loan amount is usually based on the borrower’s income, and lenders may require proof of income or access to the borrower’s bank account.

Payday loan regulations in New York

In 2009, the state of New York prohibited payday lending. According to the state law, it is illegal for lenders to make payday loans, whether in person, over the phone, or online. In addition, lenders who offer payday loans are required to be licensed by the state’s banking department. The state law includes strict penalties for lenders who violate the regulation, including fines and possible imprisonment.

Why are payday loans illegal in New York?

The state of New York has determined that payday loans are harmful to consumers. According to the state’s Department of Financial Services, payday loans have triple-digit interest rates and can trap borrowers in a cycle of debt. The interest rates charged by payday lenders are significantly higher than those charged by banks and credit unions, and may exceed 400% APR. In addition, payday lenders may have aggressive debt collection practices that can lead to harassment and intimidation.

Alternatives to Payday Loans

While payday loans may seem like a quick solution, there are alternative options available for consumers in need of quick cash:

  • Personal Loans: Many banks, credit unions, and online lenders offer personal loans with lower interest rates than payday loans.
  • Credit Card Cash Advance: While not ideal due to high-interest rates and fees, a credit card cash advance can be a cheaper alternative to payday loans.
  • Negotiate payment plans: If you are dealing with a medical bill or other expenses, it may be possible to negotiate a payment plan with the provider or creditor.
  • Local Government assistance programs: Depending on your circumstances, you may qualify for local government assistance programs such as welfare, food stamps or rental assistance.

Facts and Statistics

  • The average payday loan borrower takes out eight loans per year in New York
  • Payday loans make up 25% of all bankruptcies filed in New York State
  • According to a poll conducted by the Center for Responsible Lending, 76% of payday loans are due to recurring expenses, such as rent and utilities payments

Apply Now

Although payday loans are prohibited in New York, residents of Java Village may still find themselves in need of quick cash. If you are in a financial emergency and need help covering expenses, TheGuaranteedLoans can help connect you with potential lenders. Our online application process is simple and free of charge. We are not a direct lender, but a connector service that will help you connect with potential lenders. Apply now to get started and learn more about how we can help you.

Remember, payday loans are illegal in New York, and it’s important to educate yourself on alternative options before considering borrowing.

F.A.Q.

Can a payday loan company file a lawsuit against me in Java Village, New York?

No, a payday loan company cannot file a lawsuit against you in Java Village, New York because these loans are illegal in the state.

Are there any federal laws that apply to payday loans in Java Village, New York?

Yes, there are federal laws that apply to payday loans in Java Village, New York, including the Military Lending Act and the Truth in Lending Act. These laws provide protections for consumers and regulate the practices of payday lenders.