Payday Loans in Olivebridge, New York

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

Company nameAddressZip codePhone number
Island Federal Credit Union 920 Middle Country Rd, Selden, NY 11784 +1 (631) 851 - 1100
KeyBank 245 W Bridge St, Catskill, NY 12414 +1 (518) 943 - 6861
Apple Bank 85 Pondfield Rd, Bronxville, NY 10708 +1 (914) 771 - 6770
Tracey Road Equipment Binghamton 1523 US-11, Kirkwood, NY 13795 +1 (607) 775 - 5010
Jackson Hewitt Tax Service 88 W Main St, Ilion, NY 13357 +1 (315) 895 - 4344
Apple Bank 167 Walt Whitman Rd, Huntington Station, NY 11746 +1 (631) 547 - 5370
Chase Mortgage 595 Sunrise Hwy, West Babylon, NY 11704 +1 (631) 587 - 1900
Affordable Auto Leasing LLC 1273 Bay Ridge Ave., Office D, Brooklyn, NY 11219 +1 (718) 702 - 0556
LibertyX Bitcoin ATM 2444 State Rte 55, Hopewell Junction, NY 12533 +1 (800) 511 - 8940
NBT Bank 264 Main St, Massena, NY 13662 +1 (315) 764 - 1112

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Olivebridge, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Coram, NY, Payday Loans in East Meadow, NY, Payday Loans in Eastchester, NY, Payday Loans in Elmont, NY, Payday Loans in Franklin Square, NY, Payday Loans in Freeport, NY, 24-Hour Loan in Guilderland, NY and Payday Loans in Hamburg, 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 Olivebridge, NY.

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

12461

Are Payday Loans Legal In Olivebridge, 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

Olivebridge, NY payday loan calculator

Understanding Payday Loans in Olivebridge, New York

Payday loans are quick and convenient solutions often used by people who need cash urgently and have low credit scores, high debts, or insufficient income to be approved for a traditional bank loan. However, if you are residing in Olivebridge, New York, you should know that payday loans are prohibited in the state. This means that you cannot legally obtain a payday loan in Olivebridge or any other city in New York.

What are Payday Loans?

A payday loan is a short-term loan that usually comes with a high-interest rate and a short repayment period. These loans are usually meant to provide temporary financial relief to individuals with urgent financial needs. Typically, payday loans are to be repaid by the borrower’s next payday. Thus, they are often referred to as “payday advances” or “cash advances.”

In many states, payday loan lenders are subject to regulation and must follow certain guidelines set forth by the state. However, New York State prohibits payday lending entirely.

Payday Loan Laws in New York

In 2009, New York prohibited payday loans altogether. This move was seen as an attempt to protect consumers from the high-interest rates and fees that these loans can carry. While other states generally limit the annual percentage rate (APR) of payday loans to 36% or less, the APR for payday loans in New York was often 400% or higher.

The New York Department of Financial Services monitors the financial activities of all institutions doing business in the state. Prospective borrowers may contact the Department to determine whether a lender is authorized to do business in the state.

What to do if you need cash urgently in Olivebridge, New York?

While payday loans are not available in Olivebridge, New York, there are several alternatives that you can consider if you need cash urgently:

  • Personal loans: You can obtain a personal loan from a credit union or bank if you have a good credit score. Personal loans often have lower interest rates than payday loans, and the repayment period is longer.
  • Credit cards: If you have a credit card, you can access the line of credit provided by the card issuer. Depending on your credit limit and the amount of cash you need, this can be a viable option.
  • Installment loans: Some lenders offer installment loans that provide more flexibility than payday loans. For example, installment loans have longer repayment periods and lower interest rates.

Interesting Facts and Statistics about Payday Loans in New York

  • The typical payday loan in New York has an interest rate of 400% or higher.
  • In the United States, about 12 million people use payday loans each year.
  • The average payday loan borrower takes out eight loans of $375 per year and spends $520 on interest.
  • According to a 2013 study, payday loans cause a net economic loss of $774 million annually due to increased bankruptcy filings and job losses.

Apply Now

While payday loans are not an option in Olivebridge, New York, TheGuaranteedLoans offers a free online connector service that can help you find potential lenders who offer alternative loans. Complete our online application to get started today. Remember that we are not a direct lender, and we recommend that you read the loan agreement carefully before signing it.

Now that you understand the payday loan laws in New York, you can make informed financial decisions. Stay safe and financially secure.

F.A.Q.

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

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

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

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