Payday Loans in Verona, New York

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

Company nameAddressZip codePhone number
Jamestown Area Community FCU 181 E Fairmount Ave, Jamestown, NY 14701 +1 (716) 763 - 3642
Albany Hard Money 12 Elmwood Rd, Albany, NY 12204 +1 (518) 810 - 0101
Amityville Payroll Service 1821 Brentwood Rd, Brentwood, NY 11717 +1 (631) 521 - 7855
Capital One Bank 2192 Merrick Rd, Merrick, NY 11566 +1 (516) 867 - 1715
KeyBank 2066 George Urban Blvd, Depew, NY 14043 +1 (716) 651 - 2230
Target Advance 4207 Ave. M, Brooklyn, NY 11234 +1 (718) 517 - 8855
Anthony Tangredi - Raymond James 301 Main St, Goshen, NY 10924 +1 (845) 360 - 5762
Community Bank, N.A. 343 Church St, Hannibal, NY 13074 +1 (315) 564 - 5118
Diligent Credit Solutions 70 Suffolk Ct 300, Hauppauge, NY 11788 +1 (631) 656 - 4300
Regina Check Cashing Corporation 105 E Jefferson St, Syracuse, NY 13202 +1 (315) 423 - 4763

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Verona, NY

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

13478

Are Payday Loans Legal In Verona, 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

Verona, NY payday loan calculator

Payday Loans in Verona, New York – Prohibited But Beware of Alternatives

Payday loans are short-term loans with high-interest rates that are marketed to help people bridge the gap between paychecks. These loans can be an enticing option for those who are dealing with a financial emergency or unexpected bill. However, in New York, payday loans are prohibited by law under the usury cap. So, if you are living in Verona, NY or any other area in New York, you cannot legally access payday loans. Here, we will explore this topic in more detail and offer some alternatives you can consider.

Why Are Payday Loans Prohibited in New York?

The state of New York is among the 15 states that have prohibited payday loans. This is due to the high interest rates charged by lenders, which can easily exceed the usury cap of 25% per annum under New York law. Additionally, these loans can trap borrowers in a spiral of debt, making it difficult for them to repay the loan and get back on their feet, which can lead to a cycle of borrowing.

What Alternatives Are Available for Residents in Verona, NY?

While payday loans are not an option in New York, there are other types of loans available that you can consider, such as personal loans, installment loans, or even credit cards. Personal loans are a popular option, as they have lower interest rates, longer repayment terms, and are available to borrowers with good credit scores. If you have bad credit, however, you may still qualify for an installment loan with higher rates but with longer repayment terms that are much more manageable than payday loans.

Personal Loans

Personal loans are unsecured loans that usually have a fixed interest rate and a repayment term that ranges from one to seven years. They can be a good option for those who have a good credit score and a stable source of income. However, they also tend to have higher interest rates than secured loans, so it’s important to shop around and compare rates carefully.

Installment Loans

An installment loan is another alternative to payday loans. They are similar to personal loans, but usually have lower interest rates, longer repayment terms, and can be available to borrowers with fair or bad credit. Unlike payday loans, installment loans allow borrowers to pay back the loan in fixed installments, making it easier to manage the loan repayments over a longer period of time.

Credit Cards

If you need money to cover an unexpected expense, credit cards can be a good alternative to payday loans. Credit cards often have a lower interest rate than payday loans and can provide you with a revolving line of credit, which you can use as needed and pay back over time. However, it’s important to make your payments on time and avoid racking up high balances, which can hurt your credit score.

Interesting Facts and Statistics About Payday Loans in Verona, New York

  • Payday loans are illegal and unenforceable in New York, including Verona.
  • In 2019, the Consumer Financial Protection Bureau (CFPB) found that 80% of payday loans are rolled over or renewed within 14 days, leading to a cycle of debt.
  • The average APR on a payday loan in the United States is 391%.
  • In 2018, the average payday loan amount was $375, with borrowers paying $520 in fees on average to borrow that amount.

Apply Now

While TheGuaranteedLoans doesn’t offer payday loans, we do offer a service that can help you connect with potential lenders. Our online application process is easy to complete and can connect you with lenders willing to offer loans according to your circumstances. We pride ourselves as a connector service, providing you with access to potential lenders that can help you access the cash you need.

Apply now to get your online loan application processed today!

F.A.Q.

What are the penalties for offering or taking out a payday loan in Verona, New York?

Offering or taking out a payday loan in Verona, New York is considered a criminal offense and can result in fines and imprisonment.

Are there any exceptions to the payday loan prohibition in Verona, New York?

No, there are no exceptions to the payday loan prohibition in Verona, New York.