Payday Loans in South Jamesport, New York

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

Company nameAddressZip codePhone number
Bruning Steve 4 Colonial Ct, Johnstown, NY 12095 +1 (518) 762 - 2325
TD Ameritrade 710 Smithtown Bypass A, Smithtown, NY 11787 +1 (631) 240 - 2050
Citizens Bank Supermarket Branch 35 Franklin Plaza, Dansville, NY 14437 +1 (585) 335 - 3320
L.J. Marchese Chevrolet, Inc. 1018 Rte 9W, Fort Montgomery, NY 10922 +1 (845) 446 - 4718
loanDepot 180 E Main St 205B, Patchogue, NY 11772 +1 (631) 652 - 6400
Independent Financial Services 60 Pearl St, Kingston, NY 12401 +1 (845) 339 - 0900
Check 'n Go 4024 Boston Rd, Bronx, NY 10475 +1 (718) 379 - 2604
Chase Bank 2159 Fairport Nine Mile Point Rd, Fairport, NY 14450 +1 (585) 377 - 5502
Chemung Canal Trust Company 100 W McCanns Blvd, Elmira, NY 14901 +1 (607) 734 - 1323
Baird Fixed Income Capital Markets 610 5th Ave 308, New York, NY 10022 +1 (646) 557 - 3200

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in South Jamesport, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Brooklyn, NY, Payday Loans in Buffalo, NY, Payday Loans in Carmel, NY, Emergency Loan in Centereach, NY, Payday Loans in Central Islip, NY, 24-Hour Loan in Cicero, NY, Short-term Loans in Clarence, NY and Payday Loan for Clay, 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 South Jamesport, NY.

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

11901, 11970

Are Payday Loans Legal In South Jamesport, 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

South Jamesport, NY payday loan calculator

Payday Loans in South Jamesport, New York: Understanding the Prohibition

Payday loans are a type of short-term, high-interest loan that many people turn to when they need money quickly. Unfortunately, payday loans are not legal in every state, including in South Jamesport, New York. If you are considering a payday loan, it’s important to know the laws in your state before you proceed.

What are Payday Loans?

Payday loans are small, short-term loans designed to be repaid within a few weeks, typically by your next payday. They are usually marketed to people in need of quick cash to cover an unexpected expense, such as a car repair or medical bill. Payday loans typically have high interest rates and fees, making them an expensive option for borrowing money.

Payday Loans and the Law in South Jamesport, New York

Payday loans are illegal in the state of New York, including in South Jamesport. In fact, the state has very strict regulations in place to protect consumers from predatory lending practices. According to the New York State Department of Financial Services, “payday lending is illegal and constitutes usury under New York law.”

Why are Payday Loans Prohibited in South Jamesport, New York?

The main argument against payday loans is that they often lead to a cycle of debt for borrowers. Because the loans are designed to be repaid quickly, borrowers may struggle to repay the loan in full when it becomes due. This can lead to additional fees and interest charges, making it even harder for the borrower to pay off the loan.

In addition, payday lenders often target low-income communities and people who are already struggling financially, making them vulnerable to high-cost loans. The state of New York has taken steps to protect consumers from these abuses by prohibiting payday lending altogether.

Alternative Options for Borrowing Money in South Jamesport, New York

While payday loans are not legal in South Jamesport, there are other options for people who need to borrow money quickly. Some alternatives to consider include:

  • Personal Loans: Personal loans are available through banks, credit unions, and online lenders. They typically have lower interest rates than payday loans, making them a more affordable option.
  • Credit Cards: If you have a credit card, you may be able to use it to cover unexpected expenses. While credit cards often have high interest rates, they can be a more manageable option than payday loans.
  • Friends and Family: If you have a good relationship with a friend or family member, you may be able to borrow money from them instead of taking out a payday loan. This can be a more affordable option, as you may be able to negotiate a lower interest rate or even borrow money interest-free.

Interesting Facts and Statistics About Payday Loans in New York

  • According to the New York Department of Financial Services, payday loans have an average APR of 400% or higher in the state.
  • The Center for Responsible Lending reports that payday lenders in New York charge an estimated $790 million in fees every year.
  • A 2018 report from Pew Charitable Trusts found that only 14% of payday loan borrowers in New York are able to repay the loan in full on their next payday.

Apply Now to Connect with Lenders for Alternative Options

If you are in need of cash, there are alternative options available to you, even if payday loans are not an option. At TheGuaranteedLoans, we are a connector service that can help you connect with potential lenders who offer personal loans, credit cards, and other borrowing options. It’s important to remember that we are not a direct lender and cannot guarantee approval, but we will do our best to match you with a lender who can meet your needs.

Visit our website today to fill out an online application and get connected with a potential lender.

F.A.Q.

Are payday loans legal in South Jamesport, New York?

No, payday loans are prohibited in South Jamesport, New York.

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

Some options for short-term financial assistance in South Jamesport, New York include credit union loans, personal loans from banks or online lenders, or borrowing from friends or family.