Payday Loans in Youngsville, New York

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

Company nameAddressZip codePhone number
Tire Discount Center 176 E Broadway, Monticello, NY 12701 +1 (845) 794 - 4455
Cash Depot II 515 Morningstar Rd, Staten Island, NY 10303 +1 (718) 556 - 3100
Five Star Bank 54 Washington St, Ellicottville, NY 14731 +1 (716) 699 - 2366
Gem Pawnbrokers 351 W 125th St, New York, NY 10027 +1 (212) 665 - 9400
Bank of America Financial Center 1012 Payne Ave, North Tonawanda, NY 14120 +1 (716) 694 - 2551
New York Tribeca Group 40 Wall St 43rd floor, New York, NY 10005 +1 (866) 315 - 7715
Raymond James 1175 Pittsford Victor Rd 110, Pittsford, NY 14534 +1 (585) 586 - 0650
Citibank 435 Main St, Armonk, NY 10504 +1 (914) 816 - 1605
Sterling National Bank 526 Union Blvd, West Islip, NY 11795 +1 (631) 587 - 8800
Paddock & Associates 1537 Columbia Turnpike, Castleton-On-Hudson, NY 12033 +1 (518) 935 - 2500

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Youngsville, 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 Loans in Brentwood, NY, Payday Loans in Brookhaven, NY, No Credit Check Loans in Brooklyn, NY, Payday Loans in Buffalo, NY, 24-Hour Loan in Carmel, NY, Payday Loan Without a Credit Check in Centereach, NY and Payday Loan for 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 Youngsville, NY.

Beautiful sights of Youngsville, NY

Are Payday Loans Legal In Youngsville, 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

Youngsville, NY payday loan calculator

Payday Loans in Youngsville, New York: Understanding the Prohibition

If you’re in a financial bind, the idea of a quick fix with a payday loan may be tempting. However, if you live in Youngsville, New York, you should know that payday loans are prohibited in the state. In this article, we will explore why payday loans are prohibited in Youngsville, New York, and what alternatives you may have available to you.

What are Payday Loans?

Payday loans are small, short-term loans that are meant to be repaid on the borrower’s next payday. These loans have high-interest rates, which can trap borrowers in a cycle of debt if they are unable to repay the loan on time. While payday loans may seem like an easy solution in times of financial difficulty, they often result in high fees and interest rates, leaving borrowers with increased debt and financial stress.

Why are Payday Loans Prohibited in Youngsville, New York?

Payday loans are prohibited in New York state under the New York State Banking Law, which outlaws short-term loans with interest rates over 25%. This is because payday loans have been associated with financially vulnerable borrowers falling into a cycle of debt, unable to repay high-interest loans taken out in times of financial stress. While payday lending is restricted in most states, some states, including New York, have outright banned payday lending, recognizing the harm it causes to consumers.

Alternatives to Payday Loans

If you live in Youngsville, New York, and are in need of a short-term loan, there are alternatives available. You may consider:

  • Talking to your bank or credit union about a small loan
  • Applying for a credit card with a low-interest rate
  • Asking friends or family for a loan
  • Exploring other options such as a personal loan

Consumers should also consider speaking with a financial advisor if they are experiencing financial hardship.

Interesting Facts and Statistics

While payday loans are prohibited in Youngsville, New York, they remain popular in other states. According to the Consumer Financial Protection Bureau, over 12 million Americans use payday loans each year, with the average borrower taking out eight loans per year. Additionally, the Center for Responsible Lending found that the average payday loan borrower pays $458 in fees over a five-month borrowing period.

Apply Now

While payday loans may not be available to you in Youngsville, New York, TheGuaranteedLoans can help connect you with potential lenders for personal loans, auto title loans, and other lending options. As a connector service, not a direct lender, we strive to provide our customers with a variety of lending options to fit their unique financial needs. Fill out our online application today to get started!

F.A.Q.

Can I be charged with a crime for taking out an illegal payday loan in Youngsville, New York?

No, taking out an illegal payday loan in Youngsville, New York is not a crime. However, the lender may face legal consequences for offering illegal loans.

Can I be sued for not paying back an illegal payday loan in Youngsville, New York?

No, you cannot be sued for not paying back an illegal payday loan in Youngsville, New York.