Payday Loans in South Wales, New York

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

Company nameAddressZip codePhone number
NBT Bank of Whitney Point 2950 US-11, Whitney Point, NY 13862 +1 (607) 692 - 7200
Richmond Hill II Check Cashing 2510 Hylan Blvd, Staten Island, NY 10306 +1 (718) 667 - 0551
B & H Check Cashing Services 135 Wyckoff Ave, Brooklyn, NY 11237 +1 (718) 366 - 2545
Lake Shore Savings Bank 3111 Union Rd, Orchard Park, NY 14127 +1 (716) 674 - 2066
CFSC Checks Cashed 518 W 145th 518 W 145th St, New York, NY 10031 +1 (212) 368 - 0745
Raymond James Financial Services 9505 Main St, Clarence, NY 14031 +1 (716) 759 - 0800
Chase Bank 140 Katonah Ave, Katonah, NY 10536 +1 (914) 232 - 3166
KeyBank 7950 Brewerton Rd, Cicero, NY 13039 +1 (315) 699 - 2595
Tompkins Bank of Castile 3140 Monroe Ave, Rochester, NY 14618 +1 (585) 267 - 4220
Harbor Capital Partners 8 Wawapek Rd, Cold Spring Harbor, NY 11724 +1 (516) 888 - 3370

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in South Wales, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Binghamton, NY, Payday Loan for Brentwood, NY, Payday Loans in Brookhaven, NY, Payday Loans in Brooklyn, NY, Guaranteed Loans in Buffalo, NY, Online Loans in Carmel, NY, Payday Loans in Centereach, NY and Payday Loans in Central Islip, 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 Wales, NY.

Are Payday Loans Legal In South Wales, 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 Wales, NY payday loan calculator

In South Wales, New York, payday loans have gained popularity over the years due to various financial challenges that citizens face, such as unexpected expenses and urgent bills. But it is important to note that payday loans are prohibited in New York, hence must be avoided at all costs.

What Are Payday Loans?

A payday loan is a short-term, high-interest loan that borrowers take out against their next paycheck. Typically, payday loans are due on the borrower’s next payday, which is usually within two to four weeks of when the loan was taken out.

Payday loans are usually offered by payday lenders, who offer to lend small amounts of money at high interest rates. While payday loans may seem like a quick and easy solution to urgent financial needs, they come with high fees and interest rates, which can trap borrowers into a cycle of debt.

The Legality of Payday Loans in South Wales, New York

In New York, payday loans are prohibited by a law called The New York State Department of Financial Services, which aims to protect consumers from predatory lending practices. According to the law, payday loans with an interest rate that exceeds 25% are considered illegal in the state.

Therefore, payday loans are not available in South Wales, New York. Those who are in need of financial assistance can consider other options, such as personal loans, credit cards, or borrowing from friends and family. It’s important for borrowers to be careful when considering their options and to avoid predatory lending practices that can harm their financial future.

Payday Loan Alternatives

While payday loans are not an option for South Wales, New York residents, there are other alternatives available. Some of these alternatives include:

  • Personal loans: Personal loans are loans that can be taken out from a bank or credit union. They come with lower interest rates and more reasonable repayment terms than payday loans.
  • Credit cards: Credit cards are commonly used for short-term financial needs. They have lower interest rates than payday loans and can be used for various needs.
  • Credit counseling: Credit counseling can help individuals develop a budget plan and improve their financial situation over time, without the need for a loan.
  • Borrowing from family or friends: Borrowing money from family or friends is another alternative that South Wales, New York residents can consider. It’s important to borrow responsibly and repay the loan on time to avoid damaging relationships.

Interesting Facts and Statistics about Payday Loans in South Wales, New York

Despite being illegal, there were still 1,550 payday loan locations in New York in 2019, according to the Center for Responsible Lending.

According to a 2019 survey conducted by the National Foundation for Credit Counseling, 12% of respondents said they had taken out a payday loan in the previous five years.

Another study by the Pew Charitable Trusts revealed that over 80% of payday loan borrowers did not have enough money to pay off their loans on the due date and often rollover the loan multiple times, incurring additional fees and interest.

Apply Now

While payday loans are not legal in South Wales, New York, TheGuaranteedLoans offers other loan options, such as personal loans and installment loans. Our website serves as a connector service, not a direct lender, connecting customers with potential lenders who may be able to offer them the financial assistance they need.

If you need financial assistance, fill out our online application now and see if you can get the loan you need. The application process is fast, secure, and easy to use.

At TheGuaranteedLoans, we are committed to helping our customers access the financial assistance they need without falling prey to predatory lenders and practices. Contact us today to learn more about our loan options and how we can help you.

F.A.Q.

Can I get a payday loan with bad credit in South Wales, New York?

No, payday loans are not available in South Wales, New York regardless of credit history.

Can I get a payday loan without a checking account in South Wales, New York?

No, payday loans are not available in South Wales, New York regardless of banking status.