Payday Loans in Orwell, New York

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

Company nameAddressZip codePhone number
KeyBank 410 Towne Dr, Fayetteville, NY 13066 +1 (315) 251 - 6200
Alco Federal Credit Union 32 Greenwich St, Belmont, NY 14813 +1 (585) 268 - 7835
Hudson Valley Credit Union 415 NY-376, Hopewell Junction, NY 12533 +1 (845) 463 - 3011
Bank of America with Drive-thru ATM 130 N County Shopping Ctr, Goldens Bridge, NY 10526 +1 (914) 232 - 5137
B & H Check Cashing Services 135 Wyckoff Ave, Brooklyn, NY 11237 +1 (718) 366 - 2545
First National Bank of Groton 41 S Main St, Moravia, NY 13118 +1 (315) 497 - 2707
Sterling National Bank 361 Sunrise Hwy, Patchogue, NY 11772 +1 (631) 654 - 0100
KeyBank 8000 NY-12, Barneveld, NY 13304 +1 (315) 896 - 2669
Elmira Savings Bank 2300 N Triphammer Rd, Ithaca, NY 14850 +1 (607) 257 - 8808
KeyBank 74 Brookside Ave, Chester, NY 10918 +1 (845) 610 - 6100

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Orwell, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Freeport, NY, Short-term Loans in Guilderland, NY, Payday Loans in Hamburg, NY, Payday Loans in Haverstraw, NY, Payday Loans in Hempstead, NY, Payday Loan Companies in Henrietta, NY, Payday Loans in Hicksville, NY and Online Loans in Huntington, 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 Orwell, NY.

Beautiful sights of Orwell, NY

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

13426

Are Payday Loans Legal In Orwell, 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

Orwell, NY payday loan calculator

Understanding Payday loans in Orwell, New York

Payday loans are short-term and high-interest rate loans Repayment date typically coincides with the borrower’s next payday. They are often marketed as a quick solution to financial emergencies. However, the state of New York prohibits these types of loans, and Orwell is no exception.

What are Payday loans?

Payday loans are a type of unsecured, short-term loan that usually has a high-interest rate. Lenders do not require collateral from the borrower, and the loan amount is usually based on the borrower’s income and credit score. The repayment date is typically the next payday of the borrower, hence the name “payday loan.”

Payday Loans Prohibited in New York State

Payday loans are prohibited in New York State, including in Orwell. The New York State Banking Law prohibits unlicensed lenders from making loans under $250,000 with an interest rate higher than 16% per annum. New York State also has a set of protections in place for individuals who already have payday loans from unlicensed lenders. The protections prohibit lenders from collecting interest on payday loans, requiring payment of interest on rollover loans, and threatening debt collection.

Facts and Statistics about Payday Loans in Orwell, New York

  • Since payday loans are not allowed in Orwell, residents do not have access to payday loan services.
  • In 2019, the Consumer Financial Protection Bureau reported that the average APR for payday loans in the United States is around 400%.
  • Payday lending often leads to a cycle of debt, where borrowers are unable to pay back their loans on time and end up taking out more loans.
  • In some states where payday loans are legal, borrowers have reported taking out multiple payday loans at one time and end up paying exorbitant amounts in interest rate fees.
  • Some payday lenders have been known to use aggressive collection methods, such as harassing phone calls and threats of legal action, to collect unpaid loans.

Looking for Financial Assistance? Apply Now with TheGuaranteedLoans

Although payday loans are not a viable financial option in Orwell, there are still other types of loans available to borrowers in need of emergency funds. TheGuaranteedLoans is a connector service that can link potential borrowers with direct lenders. Our service is fast, secure, and saves you time by allowing you to apply for different loan types in one place.

It is essential to understand that TheGuaranteedLoans is a third-party connector company and not a direct lender. We will connect you with potential lenders based on your financial needs, but the loan process will take place under the direct lender’s terms and conditions. You can also visit our website for more information about our security policy and the loan process.

The Bottom Line

Payday loans are not an option for residents of Orwell, New York, and the state of New York in general, as they are prohibited under state law. It is important to research and understand your financial options before committing to a loan and to choose a reputable lender who follows ethical lending practices.

At TheGuaranteedLoans, we are here to help you explore various loan options and connect you with a potential lender. Fill out an application today and let us help you find the financial assistance you need.

F.A.Q.

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

Because payday loans are illegal in Orwell, 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 Orwell, New York?

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