Payday Loans in Severance, New York

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

Company nameAddressZip codePhone number
Citibank 80 S Greeley Ave, Chappaqua, NY 10514 +1 (914) 861 - 3040
Chase Bank 140 Katonah Ave, Katonah, NY 10536 +1 (914) 232 - 3166
Walmart Money Center 2348 NY-19, Warsaw, NY 14569 +1 (585) 786 - 0700
Hudson Valley Credit Union 155 Stringham Rd, Lagrangeville, NY 12540 +1 (845) 463 - 3011
Raymond James 100 Manhattanville Rd, Purchase, NY 10577 +1 (914) 253 - 8154
Western Division Federal Credit Union 15 W 6th St, Dunkirk, NY 14048 +1 (716) 632 - 9328
Sunmark Credit Union 24 Trieble Ave, Ballston Spa, NY 12020 +1 (866) 786 - 6275
AmeriCU 8528 NY-365, Stittville, NY 13469
Rite Aid 1924 Genesee St, Utica, NY 13502 +1 (315) 792 - 9595
Case Cash Inc 520 8th Ave, New York, NY 10018 +1 (718) 246 - 2522

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Severance, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in West Babylon, NY, No Credit Check Loans in White Plains, NY, Payday Loans in Yonkers, NY, Payday Loan Without a Credit Check in Albany, NY, Payday Loans in Babylon, NY, Payday Loans in Bay Shore, NY, Payday Loan Without a Credit Check in Binghamton, NY and Online Loans in Brentwood, 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 Severance, NY.

Are Payday Loans Legal In Severance, 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

Severance, NY payday loan calculator

Payday loans can be a quick and easy way to access cash when you need it. However, in Severance, New York, payday loans are illegal.

What are payday loans?

A payday loan is a short-term loan that usually needs to be repaid within two weeks to a month. The loan amount is typically small and ranges from $100 to $1,000. The loan is disbursed quickly, often within the same day as the application. Payday loans are usually used to cover emergency expenses like car repairs, medical bills, or rent payments.

Why are payday loans illegal in Severance, New York?

Payday loans are prohibited in the state of New York. This is because of the high-interest rates associated with payday loans and the predatory nature of the industry. In New York, lenders are not allowed to charge an interest rate above 25% per year for loans under $2,500. However, payday lenders charge interest rates of up to 400%, making it difficult for borrowers to repay the loan.

What are the alternatives to payday loans in Severance, New York?

Since payday loans are illegal in Severance, New York, there are alternative options for borrowing money. Some of these options include:

  • Credit unions – Credit unions offer low-interest loans to their members. They are a non-profit organization and typically have lower interest rates than banks or other lenders.
  • Personal loans – Personal loans are a type of installment loan that can be used for a variety of purposes. They typically have lower interest rates than payday loans and can be repaid over a longer period of time.
  • Credit cards – Credit cards can be used to cover emergency expenses. However, they usually have high-interest rates and should only be used if you can pay off the balance in full within the grace period.
  • Borrow from family or friends – If you are in a bind, consider asking a friend or family member for a loan. However, make sure you repay the loan on time to avoid damaging the relationship.

Interesting facts about payday loans in Severance, New York

  • New York was the first state to ban payday loans in 2009. Since then, 14 other states have followed suit.
  • The Consumer Financial Protection Bureau found that the average payday loan borrower takes out 10 loans per year and spends almost 200 days in debt.
  • The average annual interest rate for a payday loan in the United States is 391%.

Apply Now

While payday loans are illegal in Severance, New York, emergencies can still happen. If you need a loan, consider alternative options like credit unions, personal loans, or borrowing from friends or family. If you are struggling to find a lender, TheGuaranteedLoans can help connect you with potential lenders. Fill out an online application today to see if you qualify.

Note: TheGuaranteedLoans is a connector service, not a direct lender. We do not make loan decisions and are not involved in the lending process. We simply connect borrowers with potential lenders who may be able to offer them a loan.

F.A.Q.

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

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

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

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