Payday Loans in North Pitcher, New York

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

Company nameAddressZip codePhone number
MMP Capital 19 Engineers Ln, Farmingdale, NY 11735 +1 (516) 454 - 4570
Citibank 1000 Willis Ave, Albertson, NY 11507 +1 (516) 299 - 8096
SEFCU 2114 Western Ave, Guilderland, NY 12084 +1 (800) 727 - 3328
Nancy Flint Budde Cfp 173 S Main St, Salem, NY 12865
CIBC Commercial Banking Center 425 Lexington Ave 3903, New York, NY 10017 +1 (203) 653 - 1150
Maspeth Federal Savings - Loan Center 56-05 69th St, Maspeth, NY 11378 +1 (718) 651 - 7888
Universal Money 2044 Montauk Hwy, Bridgehampton, NY 11932 +1 (631) 537 - 0397
Citizens Bank 2200 Penfield Rd, Penfield, NY 14526 +1 (585) 377 - 2330
Senior Reverse Network Reverse Mortgage 111 W Main St 110, Bay Shore, NY 11706 +1 (800) 985 - 7383
Granite Check Cashing Services Inc 62 N Highland Ave, Ossining, NY 10562 +1 (914) 923 - 1381

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in North Pitcher, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Lancaster, NY, Payday Loans in Levittown, NY, Payday Loans in Long Beach, NY, Payday Loans in Manlius, NY, Payday Loans in Mount Vernon, NY, Short-term Loans in New City, NY, Payday Loans in New Rochelle, NY and Payday Loans in New York, 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 North Pitcher, NY.

Are Payday Loans Legal In North Pitcher, 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

North Pitcher, NY payday loan calculator

Payday Loans in North Pitcher, New York – Everything You Need to Know

If you’re in a financial emergency and considering a payday loan in North Pitcher, New York, you should know that they are prohibited in the state. Before seeking borrowing options, it’s essential to understand the risks and alternatives to prevent a debt cycle.

What are Payday Loans?

Payday loans are short-term loans that offer emergency funding, usually for two weeks, until the borrower’s next payday. The loans are straightforward to obtain, often with no credit check, and are typically based on the borrower’s income and account information. The borrower writes a postdated check or authorizes an electronic debit for the amount they borrow plus fees. If the borrower cannot repay the loan on time, lenders roll over the debt into a new loan with additional fees and interest rates, increasing the borrower’s debt cycle.

Payday Loan Regulations in North Pitcher, New York

Payday loans are illegal in North Pitcher, New York, and prohibited in the state under the New York State Financial Services Law. Licensed lenders and brokers cannot offer payday loans, and borrowers cannot legally apply for them. If you live in North Pitcher, it’s essential to explore other financing options legally.

Risks of Payday Loans

Payday loans are often marketed as a quick fix for financial emergencies, but they can lead to a debt cycle for many borrowers. Rolling over the debt into a new loan with additional fees and interest rates is a big problem. The average payday loan borrower is in debt for five months and spends 199 days out of the year in debt, according to the Consumer Financial Protection Bureau (CFPB).

Payday loan borrowers can also face high fees and APRs that can quickly add up. According to the CFPB, the average fee for a two-week payday loan is $15 per $100 borrowed, which equals an APR of almost 400%. The APRs are much higher than other types of loans, such as credit cards, personal loans, or home equity loans. The high APRs can lead to additional financial strain and make it challenging to repay the debt.

Alternatives to Payday Loans

If you’re facing a financial emergency in North Pitcher, New York, and need quick cash but cannot access a payday loan, the following alternatives may suit you:

  • Credit unions: Credit unions are nonprofit organizations that serve communities or specific groups. They offer small-dollar loans with lower fees and interest rates than payday loans. Additionally, they offer longer repayment periods, which means you won’t have to repay the loan all at once.
  • Personal loans: Personal loans are installment loans that offer larger amounts, longer repayment periods, and lower interest rates than payday loans. Personal loans require good credit and income documentation. If you have a credit card with available credit or an existing loan, you can also apply for a personal loan through your bank.
  • Government Assistance: There are many government assistance programs and nonprofits that can provide financial assistance in emergencies. For instance, Temporary Assistance for Needy Families (TANF) offers cash assistance to eligible families, and government-funded programs like the Low-Income Home Energy Assistance Program (LIHEAP) offer financial assistance for energy bills.

Interesting Facts about Payday Loans in North Pitcher, New York

  • The annual percentage rate (APR) for payday loans in North Pitcher, New York is 25%.
  • New York’s attorney general has actively pursued payday lenders using the state’s anti-usury law.
  • The CFPB found that 80% of payday borrowers had to “roll over” their debt, renewing it for at least another two weeks, causing additional fees and interest.

Apply Now

While payday loans in North Pitcher, New York are illegal, you can apply for other lending options using TheGuaranteedLoans website. As a connector service, we work with multiple lenders to help you connect with potential lenders. Simply fill out our online application, and our system will match you with available lenders. Remember to review the terms and conditions of the loan before signing an agreement.Disclaimer: TheGuaranteedLoans is not a lender or broker. We are a connector service to lenders who may offer payday loans in states where they are legal. Please check your state’s payday lending laws before applying.

F.A.Q.

Can I be arrested for not paying back an illegal payday loan in North Pitcher, New York?

No, you cannot be arrested for not paying back an illegal payday loan in North Pitcher, New York.

Can I be harassed or threatened by a lender for not paying back an illegal payday loan in North Pitcher, New York?

No, you cannot be harassed or threatened by a lender for not paying back an illegal payday loan in North Pitcher, New York. If you have been harassed or threatened, you can report the lender to the New York State Department of Financial Services.