Payday Loans in Mastic Beach, New York

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

Company nameAddressZip codePhone number
Avenue Check Cashing 21233 Jamaica Ave # A, Jamaica, NY 11428 +1 (718) 217 - 8423
TransCapital 145 Orinoco Dr 263, Brightwaters, NY 11718 +1 (646) 372 - 7973
Valley Bank 501 N Broadway, Jericho, NY 11753 +1 (516) 822 - 4000
ESL Federal Credit Union ATM 41 Nichols St, Spencerport, NY 14559 +1 (585) 336 - 1000
Provident Bank 44 NY-59, Nanuet, NY 10954 +1 (845) 627 - 6180
Baldwin Express 1747 Grand Ave, Baldwin, NY 11510 +1 (516) 867 - 0466
Community Bank, N.A. 100 E Main St, Gouverneur, NY 13642 +1 (315) 287 - 2300
Snap Advances LLC 497 Rockaway Ave suite 1, Valley Stream, NY 11581 +1 (516) 218 - 5151
Ulster Savings Bank 1208 NY-300, Newburgh, NY 12550 +1 (845) 567 - 3171
Portfolio Strategies Inc 11 Waverly Pl, Monsey, NY 10952 +1 (845) 352 - 1919

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mastic Beach, NY, you can try to find different companies in big cities near by. Check out the following pages here: Guaranteed Loans in New York, NY, Payday Loans in Niagara Falls, NY, Online Loans in North Tonawanda, NY, Guaranteed Loans in Oceanside, NY, Same Day Loans in Ossining, NY, Payday Loan Without a Credit Check in Oyster Bay, NY, Payday Loans in Penfield, NY and Payday Loans in Poughkeepsie, 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 Mastic Beach, NY.

Beautiful sights of Mastic Beach, NY

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

11951

Are Payday Loans Legal In Mastic Beach, 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

Mastic Beach, NY payday loan calculator

Payday loans, also known as cash advances, are short-term loans that are marketed as a quick and easy way to get money when you need it. However, it’s important to note that payday loan companies tend to charge extremely high-interest rates and fees, making it difficult for borrowers to pay back the loan on time.

In Mastic Beach, New York, payday loans are prohibited by state law. The New York State Department of Financial Services has taken steps to protect consumers from falling into debt cycles by outlawing payday loans. Loans with terms of less than 60 days and APR exceeding 25% are explicitly prohibited and deemed as illegal in the state of New York.

Why are payday loans a bad idea?

Payday loans may seem like a quick-fix solution when you’re in need of cash. However, these loans tend to be predatory, and many people who take them out often find themselves in deeper debt than they were before.

The main reason payday loans are considered a bad idea is the high-interest rates and fees that can come with these loans. Payday lenders commonly charge fees and interest rates that add up to the equivalent of an annual percentage rate (APR) of 400% or more. This means that if you borrow $100 from a payday lender, you may end up paying $75 in fees and interest just to borrow the money for two weeks. This is an enormous amount of money to repay in a short period of time, especially if you’re already struggling financially.

Another reason payday loans are a bad idea is that they can easily lead to a debt cycle. Many borrowers end up taking out payday loans repeatedly because they can’t pay off the loan in full and end up needing to borrow money again just to cover the fees and interest from the previous loan. This can trap people in a cycle of debt that can be very difficult to get out of.

Interesting facts or statistics about Payday loans in Mastic Beach, New York

  • Payday loans in New York have an average APR of 400%, according to a survey by the New York State Department of Financial Services.
  • The state of New York has taken legal action against several payday lenders operating illegally in the state, resulting in restitution for consumers and fines for the lenders.
  • The New York State Department of Financial Services provides a comprehensive list of lenders that are licensed to operate in the state, making it easy for consumers to check if a lender is authorized.

Apply Now Section

If you’re in need of a loan, TheGuaranteedLoans may be able to help. We are a connector service, not a direct lender, and we work with a network of potential lenders to match borrowers with loan options that may be right for them.

Our online application process is simple, and you can fill out an application in minutes. If we’re able to match you with a potential lender, you may be able to get the money you need in as little as one business day.

Remember, if you’re thinking about taking out a payday loan in Mastic Beach, New York, it’s important to know that these loans are illegal in the state. However, there may be other loan options available to you that can help you get the cash you need without falling into a cycle of debt.

F.A.Q.

Why are payday loans illegal in Mastic Beach, New York?

Payday loans are illegal in Mastic Beach, New York because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Mastic Beach, New York?

in Mastic Beach, New York, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.