Payday Loans in Solsville, New York

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

Company nameAddressZip codePhone number
Adirondack Bank 136 Oriskany Blvd, Whitesboro, NY 13492 +1 (315) 736 - 6169
Coxsackie Correctional FCU 11260 State Route 9W, Coxsackie, NY 12051 +1 (518) 731 - 6004
Capital One Bank 190 Broadway, Hicksville, NY 11801 +1 (516) 938 - 4003
Edwards Michael W 301 W Franklin St, Horseheads, NY 14845 +1 (607) 796 - 2161
Lakeland Bank 556 NY-32, Highland Mills, NY 10930 +1 (845) 827 - 3160
Chase Mortgage 817 NY-82, Hopewell Junction, NY 12533 +1 (845) 221 - 2881
The First National Bank of Long Island 151 W Main St, East Islip, NY 11730 +1 (631) 277 - 2936
TD Bank 101-10 Metropolitan Ave, Forest Hills, NY 11375 +1 (718) 575 - 2791
Regina Check Cashing & Financial Services 911 Central Ave, Albany, NY 12206 +1 (518) 240 - 8531
Northwest Bank 1035 Payne Ave, North Tonawanda, NY 14120 +1 (716) 693 - 7337

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Solsville, NY, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Schenectady, NY, Payday Loans in Smithtown, NY, Emergency Loan in Southampton, NY, Payday Loan Without a Credit Check in Spring Valley, NY, Payday Loans in Staten Island, NY, Guaranteed Loans in Syracuse, NY, Payday Loans in Troy, NY and No Credit Check Loans in Uniondale, 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 Solsville, NY.

Are Payday Loans Legal In Solsville, 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

Solsville, NY payday loan calculator

Payday Loans in Solsville, New York: Understanding the Law and the Alternatives

Payday loan is a type of short-term loan that usually comes with high-interest rates and fees. New York state has prohibited payday loans, including Solsville. However, some lenders may try to lure you into borrowing illegally, putting you at risk of predatory lending practices. In this article, we’ll discuss the regulations and alternatives to payday loans in Solsville, New York.

What are payday loans?

Payday loans are typically small loans, often ranging from a few hundred dollars to a couple of thousand dollars, intended to be paid back with the borrower’s next paycheck. They usually have high-interest rates and fees, making them an expensive form of borrowing. Some payday lenders may even charge annual percentage rates (APRs) of up to 400 or 500 percent.

In New York, however, payday loans are completely prohibited. This means that you cannot legally obtain one, and lenders cannot offer them to you in-person, online, or by phone or email. Unfortunately, some illegal lenders may still try to entice desperate borrowers into taking out a payday loan in Solsville or other areas of New York.

What are the risks of payday loans?

The risks of taking out a payday loan go beyond the high-interest rates and fees. Because they are typically due on your next payday, they can make it difficult for you to pay for basic necessities, such as rent, utilities, or groceries. This often leads to a cycle of borrowing, wherein borrowers take out one payday loan to pay off another until they are trapped in debt.

Additionally, some payday lenders may not be licensed or regulated, which means that they can engage in predatory practices. They may make false promises, mislead borrowers about the terms of the loan, or even withdraw money from their bank accounts without authorization.

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

If you are in need of emergency cash, it is important to explore all of your options before resorting to a payday loan. Here are some alternatives that you may consider:

  • Credit union loans: Some credit unions offer short-term loans with lower interest rates and fees than payday lenders.
  • Lender-matching services: Some online platforms, like TheGuaranteedLoans, connect borrowers with potential lenders. These services can help you access a wider range of loan options and compare their rates and fees.
  • Credit counseling: A credit counselor can work with you to create a budget and debt repayment plan that can help you avoid future financial emergencies.
  • Emergency assistance: Some nonprofit organizations, churches, or community groups may provide free or low-cost assistance in times of emergency. These may include food pantries, clothing banks, or financial assistance programs.

When considering any alternative, it’s important to verify that the lender or service is licensed or registered with the state of New York. You can check the New York State Department of Financial Services website to ensure the lender or service you choose is authorized to operate in New York.

Interesting facts about payday loans in Solsville, New York

  • 37 states in the US have explicit statutes for payday lending, making it legal or illegal.
  • In 2019, New York Attorney General’s office went after 35 online lenders, among them Solsville borrowers, who marketed and offered loans for regulated interest rates. One of these was a lender that charged a 638% APR to customers in the state.
  • According to a report by the National Conference of State Legislatures, borrowers who use payday loans take out an average of eight to 13 loans per year, spending around $520 on interest alone.

Apply Now with TheGuaranteedLoans

If you’re in need of emergency cash and are considering a short-term loan, TheGuaranteedLoans can help. We connect borrowers with a network of lenders who offer a wide range of loan options, including installment loans, personal loans, and payday loans in other states where they are legal. While we are not a direct lender and cannot make any guarantees, we can help you access funds quickly and conveniently. Apply now and see if you qualify for a loan today!

F.A.Q.

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

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

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