Payday Loans in Oak Hill, New York

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

Company nameAddressZip codePhone number
The Bank of Greene County 2494 Rte 9W, Ravena, NY 12143 +1 (518) 756 - 3003
Sterling National Bank 955 Hempstead Turnpike, Franklin Square, NY 11010 +1 (516) 352 - 8725
Jovia Financial Credit Union 1934 Deer Park Ave, Deer Park, NY 11729 +1 (516) 561 - 0030
Saratoga National Bank 171 S Broadway, Saratoga Springs, NY 12866 +1 (518) 583 - 3114
MMP Capital 19 Engineers Ln, Farmingdale, NY 11735 +1 (516) 454 - 4570
Trustco Bank 3690 NY-43, West Sand Lake, NY 12196 +1 (518) 674 - 3327
Pawn Starz 3491 E Main St, Fredonia, NY 14063 +1 (716) 952 - 9501
Global Financial Credit, LLC 199 Main St 8th Floor, White Plains, NY 10601 +1 (866) 709 - 1100
Power Equity Corporation 944 Montauk Hwy, Shirley, NY 11967 +1 (631) 730 - 5401
Maspeth Federal Savings 801 Jericho Turnpike, New Hyde Park, NY 11040 +1 (516) 437 - 5000

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Oak Hill, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in New City, NY, Payday Loans in New Rochelle, NY, Payday Loan Companies in New York, NY, Payday Loans in Niagara Falls, NY, Payday Loans in North Tonawanda, NY, Same Day Loans in Oceanside, NY, Bad Credit Loans in Ossining, NY and Emergency Loan in Oyster Bay, 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 Oak Hill, NY.

Beautiful sights of Oak Hill, NY

Are Payday Loans Legal In Oak Hill, 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

Oak Hill, NY payday loan calculator

Payday loans, also known as cash advances, are short-term loans that are typically due on the borrower’s next payday. These loans are advertised as a quick and easy way to get cash when you need it, but they often come with high fees and interest rates that can trap people in cycles of debt. If you’re considering taking out a payday loan in Oak Hill, New York, it’s important to know that they are prohibited in the state.

What are Payday Loans?

Payday loans are often marketed to people who need money quickly and don’t qualify for traditional loans. These loans are typically for small amounts, ranging between $100 and $1,000, and are due on the borrower’s next payday, usually within two to four weeks.

Many payday lenders require borrowers to provide a post-dated check or access to their bank account as collateral for the loan. If the borrower can’t repay the loan on the due date, the lender can cash the check or withdraw the money from the borrower’s account, which can result in overdraft fees and other charges.

Why are Payday Loans Prohibited in New York?

In 2006, the New York State Legislature banned payday loans under the New York State Banking Law. The law prohibits payday lenders from operating in the state and making loans to New York residents. This ban was put in place to protect consumers from predatory lending practices that can lead to financial hardship and debt.

Alternatives to Payday Loans in Oak Hill

There are several alternatives to payday loans that residents of Oak Hill, New York can consider if they need quick cash. Here are a few options:

  • Credit cards: If you have a credit card, you may be able to use it to get a cash advance. While this will likely come with a higher interest rate than your regular purchases, it will still be less expensive than a payday loan.
  • Personal loans: Banks and credit unions offer personal loans that can be used for a variety of purposes, including emergencies. These loans typically have lower interest rates than payday loans and can be repaid over a longer period of time.
  • Friends and family: If you’re in a bind, you may be able to get help from friends or family members. While this can be a sensitive topic, it’s always worth considering before taking out a payday loan.

Interesting Facts and Statistics about Payday Loans in Oak Hill, New York

  • In 2019, there were no licensed payday lenders in Oak Hill, New York.
  • In New York, the maximum annual percentage rate (APR) on a consumer loan is 16%, making payday loans with APRs of 400% or more illegal.
  • The average payday loan borrower takes out 10 loans per year and spends 199 days in debt annually.

Apply Now

If you’re in need of cash and want to explore your options, TheGuaranteedLoans can help. We are a connector service that can connect you with potential lenders who may be able to offer you a loan. Just fill out our online application and we’ll do the rest! It’s important to remember that we are a connector service, not a direct lender, and our service is completely free to use.

Don’t let a payday loan trap you in a cycle of debt. Explore your options and make the best decision for your financial future.

F.A.Q.

Can I be sued for not paying back a payday loan in Oak Hill, New York?

Because payday loans are illegal in Oak Hill, New York, lenders cannot sue borrowers for not paying back the loan. However, borrowers may still be responsible for paying back any money they borrowed, even if the loan was illegal.

Can payday loan lenders garnish my wages in Oak Hill, New York?

No, payday loan lenders cannot garnish your wages in Oak Hill, New York because payday loans are illegal in the state.