Payday Loans in Sugar Loaf, New York

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

Company nameAddressZip codePhone number
Walmart Money Center 2 Gannett Dr, Johnson City, NY 13790 +1 (607) 240 - 5040
Thrivent Financial 5307 64th St, Maspeth, NY 11378 +1 (718) 606 - 9396
Hanover Community Bank 2131 Jericho Turnpike, New Hyde Park, NY 11040 +1 (516) 248 - 4868
Citibank 77 E Main St, Bay Shore, NY 11706 +1 (631) 328 - 2781
MCT Federal Credit Union 39 Market St, Amsterdam, NY 12010 +1 (518) 842 - 1840
M&T Bank 6499 E Seneca Turnpike 351, Jamesville, NY 13078 +1 (315) 469 - 0172
Citibank 670 Merrick Ave, East Meadow, NY 11554 +1 (516) 874 - 0309
Jackson Hewitt Tax Service 1201 NY-300, Newburgh, NY 12550 +1 (845) 863 - 1040
Berkshire Bank 140 Sanford farms shopping Center, Amsterdam, NY 12010 +1 (518) 843 - 5940
Moog Employees Federal Credit Union 7181 Seneca St, Elma, NY 14059 +1 (716) 655 - 2360

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Sugar Loaf, NY, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Ithaca, NY, Payday Loans in Jamestown, NY, Payday Loan Companies in Lancaster, NY, Payday Loans in Levittown, NY, Payday Loans in Long Beach, NY, Payday Loans in Manlius, NY, Payday Loans in Mount Vernon, NY and Payday Loans in New City, 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 Sugar Loaf, NY.

Are Payday Loans Legal In Sugar Loaf, 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

Sugar Loaf, NY payday loan calculator

Payday loans can be a convenient option for those who need access to quick cash. However, in Sugar Loaf, New York, payday loans are currently prohibited by law. It’s important to understand the restrictions and alternatives available to you before considering a payday loan in Sugar Loaf.

What are Payday Loans?

A payday loan is a type of short-term loan typically used to cover unexpected expenses or bridge the gap between paychecks. These loans typically have high interest rates and fees, and are often due within two weeks or on the borrower’s next payday.

While easy access to cash may seem appealing, it’s important to remember that payday loans can have long-term financial consequences. In many cases, borrowers end up trapped in a cycle of debt, taking out new loans to pay off old ones.

The Status of Payday Loans in Sugar Loaf, New York

Currently, payday loans are not legal in the state of New York, including Sugar Loaf. The New York State Department of Financial Services (DFS) regulates all lenders operating within the state, including those offering online loans. While many payday lenders claim to offer loans online in New York, they are still subject to state law and cannot legally offer payday loans to residents of Sugar Loaf or any other area in the state.

Alternatives to Payday Loans

If you’re facing unexpected expenses or a cash shortfall, there are a variety of alternatives to payday loans in Sugar Loaf:

  • Credit counseling services: Credit counseling services can help you create a budget and develop a plan to manage your debt. They may also be able to negotiate with creditors to reduce or eliminate interest rates and fees.
  • Emergency financial assistance: There are a variety of programs and organizations that offer emergency financial assistance, including non-profits, religious organizations, and government agencies.
  • Personal loans: Personal loans from reputable lenders can offer a lower interest rate and longer repayment term than payday loans. However, it’s important to read the terms and conditions carefully before applying for a loan.
  • Alternative financial services: There are a variety of alternative financial services available, such as payday alternative loans (PALs) offered by credit unions and cash advances on credit cards.

Interesting Facts and Statistics about Payday Loans in Sugar Loaf, NY

While payday loans are illegal in Sugar Loaf and the rest of New York, it’s still important to understand the impact these loans can have on borrowers:

  • According to the DFS, the average payday loan in New York has an interest rate of 400% APR.
  • A 2016 report by the Center for Responsible Lending found that the average payday borrower in the United States spends $520 in fees for an average loan of $375.
  • The same report found that payday borrowers are more likely to file for bankruptcy than those who don’t use payday loans.

Apply Now with TheGuaranteedLoans

TheGuaranteedLoans is a connector service that can help you find potential lenders who may be able to offer personal loans with flexible terms and competitive interest rates. Our application process is quick and easy, and our service is free to use. Simply visit our website and fill out the online application form.

Please note that TheGuaranteedLoans is not a direct lender. We work with a network of lenders and financial companies to help you find the best loan options for your needs. You’ll be matched with lenders who meet your criteria, and you can choose the loan that works best for you.

Conclusion

Payday loans may seem like a quick fix for financial troubles, but they can have long-lasting consequences that are hard to overcome. With alternatives like personal loans and emergency financial assistance, it’s important to explore all of your options before considering a payday loan in Sugar Loaf, or anywhere else in New York. If you do decide to pursue a loan, use a connector service like TheGuaranteedLoans to find a reputable lender who can offer you flexible terms and competitive rates.

F.A.Q.

Can I be arrested for taking out a payday loan in Sugar Loaf, New York?

It is unlikely that a borrower would be arrested for taking out a payday loan in Sugar Loaf, New York, as the focus of enforcement efforts is typically on the lenders, rather than the borrowers. However, borrowers who knowingly engage in illegal activities, such as providing false information to a lender or participating in a loan scheme, may face criminal charges.

Are there any other resources available to help me avoid predatory lending in Sugar Loaf, New York?

Yes, there are several resources available to help consumers avoid predatory lending in Sugar Loaf, New York, including the state's Consumer Financial Protection Bureau, the New York State Banking Department, and the New York City Department of Consumer Affairs.