Payday Loans in Port Kent, New York

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

Company nameAddressZip codePhone number
Allstar Auto 2851 Vestal Pkwy W 1059, Vestal, NY 13850 +1 (607) 786 - 2434
M&T Bank 1621 South Ave, Syracuse, NY 13207 +1 (315) 476 - 1286
Pawn Starz 3491 E Main St, Fredonia, NY 14063 +1 (716) 952 - 9501
Citibank Roosevelt Field, 502 Old Country Rd, Garden City, NY 11530 +1 (516) 874 - 0338
Americu Credit Union 1053 NY-12, Waterville, NY 13480
Ulster Savings Bank 1571 Ulster Ave, Lake Katrine, NY 12449 +1 (845) 336 - 4835
Marcus & Millichap 1 MetroTech Center 2001, Brooklyn, NY 11201 +1 (718) 475 - 4300
M&T Bank 100 Kasson Rd, Camillus, NY 13031 +1 (315) 487 - 1518
People's United Bank 1 Stevens Way, Orangeburg, NY 10962 +1 (845) 359 - 0824
Community Bank, N.A. 8393 N Main St, Interlaken, NY 14847 +1 (607) 532 - 8333

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Port Kent, NY, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Eastchester, NY, Payday Loans in Elmont, NY, Payday Loan Companies in Franklin Square, NY, Short-term Loans in Freeport, NY, Payday Loan Companies in Guilderland, NY, Payday Loans in Hamburg, NY, Payday Loan for Haverstraw, NY and Payday Loans in Hempstead, 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 Port Kent, NY.

Beautiful sights of Port Kent, NY

Are Payday Loans Legal In Port Kent, 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

Port Kent, NY payday loan calculator

Why Payday Loans are Prohibited in Port Kent, New York?

If you are in need of urgent cash, payday loans may seem like an ideal solution. These loans are marketed as a quick fix for financial emergencies, but they come with high interest rates and fees that can trap borrowers in a cycle of debt. In Port Kent, New York, payday loans are illegal.

What are payday loans?

Payday loans are short-term loans, usually for small amounts. They are meant to be repaid on the borrower’s next payday. The application process is simple, and borrowers with poor credit or no credit history can also apply. However, these loans come with high fees and interest rates that can make them difficult to repay. Borrowers who cannot repay the loan on time may have to roll over the loan or take out another loan, leading to a cycle of debt that can be difficult to break.

Payday loan regulation in Port Kent, NY

In New York, payday loans are illegal. According to the New York State Department of Financial Services, “It is illegal for any lender to make payday loans, whether in person, by telephone, or over the Internet, in New York State.”

The law was passed in 2008 to protect consumers from the predatory lending practices associated with payday loans. The law also applies to online lenders, who are not allowed to extend payday loans to residents of New York.

Those who offer or advertise payday loans in Port Kent, New York are acting illegally and are subject to penalties and fines.

Alternatives to payday loans

While payday loans may seem like an easy solution for those in need of cash, there are alternative options available. These include:

  • Credit counseling: Credit counseling agencies offer free or low-cost services to help consumers manage their money and debts.
  • Credit unions: Credit unions are non-profit financial institutions that offer loans and other financial services to their members.
  • Personal loans: Personal loans from banks or online lenders may offer lower interest rates and fees than payday loans.
  • Friends and family: Borrowing from friends or family may be an option, but it is important to have a clear understanding of repayment terms to avoid damaging relationships.
  • Emergency assistance programs: Non-profit organizations and local government agencies offer emergency assistance programs that may provide financial assistance for those in need.

Facts and Statistics

  • According to the Center for Responsible Lending, payday loans can have an APR of 400% or higher.
  • In 2019, the average payday loan borrower had an annual income of $30,000 or less.
  • The Consumer Financial Protection Bureau found that more than 80% of payday loans were rolled over or followed by another loan within 14 days.

Apply Now

If you are in need of cash, it is important to explore all of your options before turning to payday loans. TheGuaranteedLoans can help connect you with potential lenders who offer personal loans with fair and flexible terms. Fill out our online application today to get started. Remember, TheGuaranteedLoans is not a direct lender, but a connector service that can assist you in finding a lender that meets your needs.

F.A.Q.

Can a payday loan company report me to a credit bureau in Port Kent, New York?

No, a payday loan company cannot report you to a credit bureau in Port Kent, New York because these loans are illegal in the state.

Can a payday loan company take me to court in Port Kent, New York?

No, a payday loan company cannot take you to court in Port Kent, New York because these loans are illegal in the state.