Payday Loans in Laurel, New York

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

Company nameAddressZip codePhone number
Cash Concepts Inc DOLLAR TREE PLAZA 3211 Horseblock Road, Medford, NY 11763 +1 (631) 758 - 0110
LibertyX Bitcoin ATM 821 E Brighton Ave, Syracuse, NY 13205 +1 (800) 511 - 8940
Lopez Express Courier International 45 Main St, Brewster, NY 10509 +1 (845) 278 - 2692
AmeriCU 6414 NY-31, Cicero, NY 13039 +1 (800) 388 - 2000
Signature Bank 360 Motor Pkwy 150, Hauppauge, NY 11788 +1 (866) 744 - 5463
ATM Norwich Service Station Inc 6261 Northern Blvd, East Norwich, NY 11732
Greater Woodlawn Federal Credit Union 351 E Fairmount Ave, Lakewood, NY 14750 +1 (716) 763 - 7283
Ridgewood Savings Bank 670 McLean Ave, Yonkers, NY 10704 +1 (914) 964 - 9820
Pioneer - Watervliet Branch 2000 2nd Ave, Watervliet, NY 12189 +1 (518) 273 - 0317
Adirondack Regional FCU 280 Park St, Tupper Lake, NY 12986 +1 (518) 359 - 2921

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Laurel, NY, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Warwick, NY, Payday Loans in Webster, NY, Payday Loans in West Babylon, NY, Same Day Loans in White Plains, NY, No Credit Check Loans in Yonkers, NY, Payday Loans in Albany, NY, Bad Credit Loans in Babylon, NY and Payday Loans in Bay Shore, 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 Laurel, NY.

Beautiful sights of Laurel, NY

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

11948

Are Payday Loans Legal In Laurel, 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

Laurel, NY payday loan calculator

In today’s world, unexpected expenses can arise at any moment. From medical bills to car repairs, these costs can put a significant strain on your finances. In situations like these, you may consider a payday loan as an option to help cover these unexpected expenses. However, it is important to note that payday loans are prohibited in Laurel, New York.

What are payday loans?

Payday loans, also known as cash advances, are short-term loans that typically come with high-interest rates. These loans are usually due on the borrower’s next payday, which is where the term “payday loan” comes from.

Payday loans are often marketed as a quick and easy solution to short-term financial problems. They are typically offered to individuals who have poor credit or limited access to traditional credit. However, payday loans also come with significant risks that could exacerbate financial problems for borrowers.

Why are payday loans prohibited in Laurel, New York?

In New York, payday loans are prohibited under the state’s civil and criminal usury laws. These laws prohibit lenders from charging more than 16% interest on loans under $250,000 and cap interest rates for loans over $250,000 at 25% per year.

The New York State Department of Financial Services warns consumers about the risks of payday loans and urges them to explore alternative options for borrowing money. These options include personal loans, credit cards, and other types of credit that may have lower interest rates and more favorable repayment terms.

What are the risks of payday loans?

  • High-interest rates: Payday loans often come with high-interest rates that can be difficult for borrowers to repay. According to the Consumer Financial Protection Bureau, the average payday loan carries an interest rate of 400%. This can lead to a cycle of debt where borrowers take out additional loans to cover the cost of the previous loan, resulting in a never-ending cycle of interest charges.
  • Hidden fees: Payday loans often come with hidden fees that can add up quickly. These fees may include loan origination fees, prepayment penalties, and late fees.
  • Debt collection harassment: If borrowers are unable to repay their payday loans, lenders may turn to aggressive debt collection tactics, such as harassing phone calls and threats. This can add to the stress of an already difficult financial situation.

Interesting Facts About Payday Loans in Laurel, New York

  • Payday loans are illegal in 14 states, including New York.
  • The interest rates on payday loans in other states can exceed 500% APR.
  • The payday loan industry is worth an estimated $46 billion.

Apply Now with TheGuaranteedLoans

If you are in need of a short-term loan, TheGuaranteedLoans is here to help. We are a connector service that can help connect you with potential lenders who may be able to offer you a personal loan, installment loan, or other types of credit that may be more suitable for your financial needs.

It is important to note that while we are not a direct lender, we are committed to providing our customers with a safe and secure platform to apply for loans. Our application process is quick and easy, and we work with a network of reputable lenders who adhere to state and federal lending laws.

Don’t let unexpected expenses cause you financial stress. Apply now with TheGuaranteedLoans and see if we can help you find the financial support you need.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Laurel, New York?

No, because payday loans are illegal in Laurel, New York, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Laurel, New York?

Yes, the state of New York has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.