Payday Loans in Preston Hollow, New York

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

Company nameAddressZip codePhone number
Ali Dav Associates Inc 4822 8th Ave, Brooklyn, NY 11220 +1 (718) 853 - 1210
The First National Bank of Long Island 285 E Main St suite 104 suite 104, Smithtown, NY 11787 +1 (631) 265 - 0200
Alsworth Capital Management, LLC 4 W Market St, Corning, NY 14830 +1 (607) 973 - 2665
Investors Bank 97 N Sea Rd, Southampton, NY 11968 +1 (631) 353 - 3291
Chase Bank 1960 Hempstead Turnpike, East Meadow, NY 11554 +1 (516) 794 - 4350
Phyllis Campbell - Prudential Financial 9670 NY-36, Dansville, NY 14437 +1 (607) 545 - 6595
KeyBank 6021 NY-5, Palatine Bridge, NY 13428 +1 (518) 993 - 2212
Riverside Bank, a Division of Salisbury Bank and Trust Company 2064 New Hackensack Rd, Poughkeepsie, NY 12603 +1 (845) 463 - 2265
Daniel Smiles - Mortgage Loan Officer 949 Horseblock Road, Farmingville, NY 11738 +1 (631) 404 - 8937
Apple Bank 943 Carmans Rd, Massapequa, NY 11758 +1 (516) 795 - 4000

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Preston Hollow, NY, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Brentwood, NY, Payday Loans in Brookhaven, NY, Payday Loans in Brooklyn, NY, Payday Loan for Buffalo, NY, Payday Loan Without a Credit Check in Carmel, NY, Online Loans in Centereach, NY, Payday Loan for Central Islip, NY and Online Loans in Cicero, 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 Preston Hollow, NY.

Are Payday Loans Legal In Preston Hollow, 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

Preston Hollow, NY payday loan calculator

Payday Loans in Preston Hollow, New York – What You Need to Know

Payday loans, also known as cash advances, are short-term loans that are designed to help people cover their expenses until they receive their next paycheck. While they can be useful in emergencies, they come with high interest rates and often trap borrowers in a cycle of debt. It is important to understand that payday loans are illegal in New York.

What are Payday Loans?

Payday loans allow borrowers to receive quick cash loans to cover their immediate expenses. These loans are typically due on the borrower’s next payday, which is usually within two weeks to a month from the time of the loan. Payday loans usually have high-interest rates, which can range from 300-500% APR (annual percentage rate).

Why are Payday Loans Illegal in New York?

In New York, payday loans are prohibited by law because of the high-interest rates and predatory lending practices associated with them. While payday loans may seem like an easy way to get cash quickly, they can often put borrowers in a cycle of debt that can be difficult to escape.

What are the Alternatives?

Instead of taking out a payday loan, there are several alternatives available to help you cover your expenses. These alternatives include:

  • Personal loans from a bank or credit union
  • Credit cards or cash advances from credit cards
  • Payment plans with lenders or service providers
  • Borrowing from family or friends

The Risks of Payday Loans

While payday loans may seem like a quick and easy way to get cash, they come with many risks. These risks include:

  • High-interest rates: Payday loans come with extremely high-interest rates that can be difficult to repay.
  • Debt cycle: Many borrowers end up in a cycle of debt, constantly taking out new loans to pay off old loans.
  • Penalties and fees: Late payment fees and penalties can add up quickly, increasing the borrower’s debt burden.
  • Predatory lending practices: Some payday lenders engage in predatory lending practices, taking advantage of vulnerable borrowers.

Interesting Facts and Statistics about Payday Loans in Preston Hollow, New York

Although payday loans are illegal in New York, it is still important to be aware of the impact they can have on local communities. Here are some interesting facts and statistics:

  • In 2018, the New York Department of Financial Services sent cease-and-desist letters to 35 online lenders operating in the state, including several payday lenders.
  • New York has some of the strongest usury laws in the country, making payday loans illegal.
  • The average interest rate for payday loans in other states ranges from 300-500% APR.

Apply Now

If you are in need of financial assistance, there are several alternatives available that can help you cover your expenses. At TheGuaranteedLoans, we offer a connection service that can help you connect with potential lenders. Our process is simple and straightforward, and we do not charge any fees to use our service. Click on the “Apply Now” button below to start your application today.

Please note that TheGuaranteedLoans is a connection service and not a direct lender. We work with a network of reputable lenders that can help you find the financial assistance you need. Our goal is to help you connect with the right lender and get the financial assistance you need as quickly and efficiently as possible.

F.A.Q.

Why are payday loans illegal in Preston Hollow, New York?

Payday loans are illegal in Preston Hollow, New York because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Preston Hollow, New York?

in Preston Hollow, New York, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.