Payday Loans in Tillson, New York

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

Company nameAddressZip codePhone number
Gallego Financial Group of Raymond James 67 W Main St, Oyster Bay, NY 11771 +1 (516) 922 - 4200
The Delaware National Bank of Delhi 42568 NY-28, Margaretville, NY 12455 +1 (855) 423 - 3544
M&T Bank 300 Mamaroneck Ave, Mamaroneck, NY 10543 +1 (914) 698 - 6400
Chase Bank 655 N Wellwood Ave, Lindenhurst, NY 11757 +1 (631) 957 - 8400
The Hartford 301 Woods Park Drive, Clinton, NY 13323 +1 (860) 547 - 5000
ESL Federal Credit Union 1271 Fairport Rd, Fairport, NY 14450 +1 (585) 336 - 1000
Adirondack Bank 13150 NY-12, Boonville, NY 13309 +1 (315) 942 - 3111
Niagara's Choice Federal Credit Union 3577 Niagara Falls Blvd, North Tonawanda, NY 14120 +1 (716) 284 - 4110
Imperial PFS 52 Corporate Cir 208, Albany, NY 12203 +1 (866) 639 - 1333
NBT Bank 5390 W Genesee St, Camillus, NY 13031 +1 (315) 487 - 2180

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Tillson, NY, you can try to find different companies in big cities near by. Check out the following pages here: 24-Hour Loan in Brooklyn, NY, Payday Loans in Buffalo, NY, Short-term Loans in Carmel, NY, Payday Loan Without a Credit Check in Centereach, NY, Online Loans in Central Islip, NY, Short-term Loans in Cicero, NY, Payday Loans in Clarence, NY and 24-Hour Loan in 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 Tillson, NY.

Beautiful sights of Tillson, NY

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

12486

Are Payday Loans Legal In Tillson, 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

Tillson, NY payday loan calculator

Welcome to TheGuaranteedLoans, a trusted online resource for financing solutions. Today, we’re discussing payday loans in Tillson, New York. Although payday loans have been prohibited in New York, we want to educate you about the benefits and drawbacks of these loans so you can make an informed decision about any future lending opportunities.

What are Payday Loans?

A payday loan is a short-term loan used to bridge the gap between paychecks. The loans are often secured with a postdated check from the borrower or through electronic access to their bank accounts. Payday loans are an attractive option for many consumers who need cash quickly, as they typically don’t require a credit check and have less stringent requirements than traditional personal loans.

Payday Loans in Tillson, New York – Prohibited

Before diving into the details, it’s important to note that payday loans have been prohibited in New York since 2009. This is due to the high-interest rates and predatory lending practices associated with these loans. A payday loan is defined as any loan of $500 or less that is due within 45 days with an interest rate greater than 25%.

The Cost of Payday Loans

The high-interest rates on payday loans make them one of the most expensive forms of borrowing. For example, a borrower may take out a $300 payday loan and be charged a fee of $45. The borrower has two weeks to repay the loan in full, but if they can’t, they’ll have to pay another $45 fee to roll the loan over. This cycle can continue until the borrower is unable to pay, which can lead to debt collection and a significant financial burden.

Alternatives to Payday Loans

Although payday loans are not an option in Tillson, New York, there are alternatives available that can help you cover unexpected expenses. Here are some options:

  • Personal Loans: Personal loans have longer terms and lower interest rates than payday loans, making them a more affordable option. With good credit, you may also qualify for a secured personal loan with a lower interest rate.
  • Credit Cards: Credit cards with reasonable fees and interest rates can be used for short-term borrowing. However, it’s essential to be mindful of your credit utilization and avoid carrying a balance to avoid high-interest charges.
  • Credit Counseling: If you are struggling with debt, free credit counseling services are available to help you develop a repayment plan and negotiate with your creditors.

Facts and Statistics about Payday Loans in Tillson, New York

While payday loans are prohibited in Tillson, New York, let’s take a look at some facts and statistics about payday loans nationwide:

  • 12 million Americans: Each year, 12 million Americans take out payday loans.
  • $9 billion in Fees: Consumers pay nearly $9 billion in fees for payday loans each year.
  • 80% are Rolled Over: 80% of payday loans are rolled over into additional loans or followed by another loan within 14 days.
  • 5 Months in Debt per Year: The average payday loan borrower is in debt for five months out of the year and spends an average of $520 in fees to repeatedly borrow $375.

Apply Now for a Personal Loan

Even though payday loans are prohibited in Tillson, New York, we can help connect you with lenders that offer personal loans. TheGuaranteedLoans is a connector service, not a direct lender, and we work with a vast network of lenders who can offer loans to people with bad credit, no credit, or a history of bankruptcy. Apply now for a personal loan and receive your funds fast and easy.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Tillson, New York?

No, because payday loans are illegal in Tillson, New York, lenders cannot sue borrowers or garnish their wages for non-payment.

Are there any protections for borrowers who take out illegal payday loans in Tillson, New York?

Yes, the state of New York has established several protections for borrowers who may be misled or exploited by illegal payday lenders. These include the right to cancel a loan within five days, the right to dispute any charges or fees, and the right to seek legal assistance.