Payday Loans in Wellsburg, New York

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

Company nameAddressZip codePhone number
Chase Mortgage 1 Rochester St, Scottsville, NY 14546 +1 (585) 889 - 2802
Mumoin Check Cashing 27 Orchard St 107, Monsey, NY 10952 +1 (845) 426 - 1414
Community Bank, N.A. 5378 NY-28, Cooperstown, NY 13326 +1 (607) 547 - 7222
loanDepot 400 Garden City Plaza 103, Garden City, NY 11530 +1 (516) 398 - 3322
First Command Financial Planning 1230 6th Ave, New York, NY 10020 +1 (646) 756 - 2851
Ronak Capital Corporation 1 Blue Hill Plaza, Pearl River, NY 10965 +1 (845) 735 - 3808
The First National Bank of Long Island 147 Main St, Cold Spring Harbor, NY 11724 +1 (631) 367 - 3600
Citibank 22 Pleasantville Rd, Ossining, NY 10562 +1 (914) 236 - 7265
Real Estate Mortgage Network 1401 NY-52, Fishkill, NY 12524 +1 (845) 202 - 5624
KeyBank 5737 S Transit Rd, Lockport, NY 14094 +1 (716) 625 - 6007

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Wellsburg, NY

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

14894

Are Payday Loans Legal In Wellsburg, 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

Wellsburg, NY payday loan calculator

Payday loans are short-term loans often marketed to borrowers as an easy solution to unexpected expenses. But in Wellsburg, New York, payday loans are prohibited, meaning that lenders cannot operate in the state.

What are payday loans?

Payday loans are small, high-interest loans typically used to cover unexpected expenses between paychecks. The loans usually range from $100 to $1,000 and typically must be paid back in full within two weeks to a month.

The loans can be obtained easily and quickly, often requiring only proof of income and an active bank account. However, because they often carry high fees and interest rates, they can trap borrowers in cycles of debt.

Why are payday loans prohibited in Wellsburg, New York?

In an effort to protect consumers from predatory lending practices, New York State prohibits payday loans. The state imposes a cap of 16% APR on loans of $25,000 or less. Payday loans typically carry an APR of 400% or more, making them much more expensive than other types of loans.

The State of New York believes that payday loans prey on vulnerable populations, such as low-income individuals, and often trap borrowers in cycles of debt. By prohibiting payday loans, New York is taking a stand against predatory lenders and promoting financial stability.

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

Although payday loans are not a viable option in Wellsburg, New York, there are alternatives for borrowers in need of quick cash:

  • Credit cards: A credit card can be a good option for borrowers with good credit. If a borrower has a credit card with available credit, they can use it to cover unexpected expenses.
  • Personal loans: Personal loans are another option for borrowers in need of cash. Banks, credit unions, and online lenders offer personal loans with lower interest rates than payday loans.
  • Borrowing from friends and family: Borrowing from friends and family can be a good option for borrowers with strong relationships.

Interesting facts about payday loans in Wellsburg, New York:

  • In New York, payday loans are prohibited, making it one of 15 states that have effectively banned payday lending.
  • The average payday loan in the United States is $350, and borrowers typically pay $15 for every $100 borrowed.
  • According to the Consumer Financial Protection Bureau, only 14% of payday loan borrowers can afford to repay the loan in full within two weeks.

Apply Now

If you need financial assistance in Wellsburg, New York, TheGuaranteedLoans can connect you with potential lenders. We are a connector service and not a direct lender, meaning that we will facilitate your connection with lenders who may be able to provide you with the cash you need. Fill out our online application form today to get started.

F.A.Q.

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

It is unlikely that a borrower would be arrested for taking out a payday loan in Wellsburg, 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 Wellsburg, New York?

Yes, there are several resources available to help consumers avoid predatory lending in Wellsburg, 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.