Payday Loans in Lisle, New York

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

Company nameAddressZip codePhone number
People's United Bank 59 Kensico Rd, Thornwood, NY 10594 +1 (914) 747 - 1068
New Liberty Loans Pawn Shop 67 W 47th St, New York, NY 10036 +1 (212) 278 - 8282
M&T Bank 12 Chapel St, Prattsburgh, NY 14873 +1 (607) 522 - 3707
NY Merchant Business Cash Advance Network, Inc. 76 N Village Ave Unit 2, Rockville Centre, NY 11570 +1 (917) 409 - 6391
Capital One Bank 2003 Smith Haven Plaza, Lake Grove, NY 11755 +1 (631) 724 - 3400
Wells Fargo Home Mortgage 701 Westchester Ave, West Harrison, NY 10604 +1 (914) 285 - 1440
ESL Federal Credit Union 745 Long Pond Rd, Rochester, NY 14612 +1 (585) 336 - 1000
Americash 1970 Military Rd, Niagara Falls, NY 14304 +1 (716) 298 - 0721
Pioneer - Wynantskill Branch 78 Main Ave, Wynantskill, NY 12198 +1 (518) 283 - 5905
KeyBank 121 W Manlius St, East Syracuse, NY 13057 +1 (315) 437 - 7872

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lisle, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Smithtown, NY, Payday Loans in Southampton, NY, Payday Loans in Spring Valley, NY, Payday Loans in Staten Island, NY, Payday Loans in Syracuse, NY, Payday Loans in Troy, NY, No Credit Check Loans in Uniondale, NY and Bad Credit Loans in Utica, 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 Lisle, NY.

Beautiful sights of Lisle, NY

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

13797

Are Payday Loans Legal In Lisle, 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

Lisle, NY payday loan calculator

The Truth About Payday Loans in Lisle, New York

Many people in Lisle, New York may find themselves in a bind at some point, needing quick cash to cover an unexpected expense. Payday loans may seem like a viable option, but in New York, they are illegal. Despite this, there are lenders who offer payday loans under the guise of alternative lending options, such as installment loans or lines of credit. It’s important to understand the risks and drawbacks associated with these loans and to know your options for legitimate financial assistance.

Why Payday Loans are Illegal in New York

In 2008, New York made it illegal for payday lenders to operate within the state, citing the predatory nature of these loans. Payday loans are short-term loans meant to be repaid on the borrower’s next payday. The interest rates on these loans can reach predatory levels of 400% or more, leading to a cycle of debt that can be difficult to escape.

In addition to the high interest rates, payday lenders often target vulnerable populations, such as low-income individuals or those with poor credit. These lenders may also engage in deceptive practices, such as hiding fees or not disclosing the true cost of the loan.

Alternative Lending Options

While payday loans are illegal in New York, there are legitimate alternatives available. One option is a personal loan from a bank or credit union. These loans typically have lower interest rates and longer repayment periods than payday loans. However, they may also have stricter credit requirements, making them inaccessible to some borrowers.

Another option is a credit card cash advance. While these loans also have high interest rates, they can be more manageable if the borrower has a solid plan to repay the debt quickly. It’s important to read the terms and conditions carefully and to avoid using this option frequently, as it can lead to a cycle of debt.

A third option is a loan from a family member or friend. While this can be an uncomfortable option for some, it can be more cost-effective and less risky than using a payday loan or other alternative lending option.

The Risks of Alternative Lending Options

While alternative lending options may be legitimate, they are not without risks. Borrowers should be aware of the potential pitfalls and drawbacks associated with these loans, including:

  • High interest rates and fees
  • Strict repayment terms
  • Potential damage to credit score
  • Impact on relationships (in the case of borrowing from family or friends)

Interesting Facts and Statistics

  • In 2020, New York’s Department of Financial Services sent cease-and-desist orders to several lenders offering illegal payday loans in the state.
  • The average payday loan borrower takes out eight loans per year, often rolling over the debt and accruing additional fees.
  • In states where payday lending is legal, the average interest rate on a payday loan is 391%.
  • Payday lending generates $8.7 billion in revenue annually.

Apply Now

If you find yourself in need of financial assistance, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we work with a network of trusted lenders to help find an option that works for you. Fill out our online application today to get started.

F.A.Q.

Can I be arrested for taking out a payday loan in Lisle, New York?

It is unlikely that a borrower would be arrested for taking out a payday loan in Lisle, New York, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in Lisle, New York?

Yes, there are several resources available to help consumers avoid predatory lending in Lisle, New York, including the state's Consumer Financial Protection Bureau, the New York State Banking Department, and the New York City Department of Consumer Affairs.