Payday Loans in Yulan, New York

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

Company nameAddressZip codePhone number
KeyBank 200 Washington St, Watertown, NY 13601 +1 (315) 785 - 4755
NBT Bank 2 N Main St, Newark Valley, NY 13811 +1 (607) 642 - 3550
Regina Check Cashing 1249 State St, Schenectady, NY 12304 +1 (518) 346 - 6091
Jovia Financial Credit Union 103 Jackson Ave, Syosset, NY 11791 +1 (516) 561 - 0030
The First National Bank of Long Island 151 W Main St, East Islip, NY 11730 +1 (631) 277 - 2936
Imperial PFS 52 Corporate Cir 208, Albany, NY 12203 +1 (866) 639 - 1333
Community Bank, N.A. 7 N Main St, Portville, NY 14770 +1 (716) 933 - 4902
Wells Fargo Home Mortgage 1399 NY-52 Suite 202, Fishkill, NY 12524 +1 (845) 440 - 2302
Greater Niagara Federal Credit Union 160 Ward Rd, North Tonawanda, NY 14120 +1 (716) 695 - 1829
Riverside Bank, a Division of Salisbury Bank and Trust Company 701 U.S. 9, Fishkill, NY 12524 +1 (845) 896 - 9300

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Yulan, NY, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Cicero, NY, Payday Loans in Clarence, NY, Payday Loans in Clay, NY, Payday Loans in Clifton Park, NY, No Credit Check Loans in Commack, NY, Quick Loan in Coram, NY, Payday Loans in East Meadow, NY and Payday Loans in Eastchester, 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 Yulan, NY.

Beautiful sights of Yulan, NY

Are Payday Loans Legal In Yulan, 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

Yulan, NY payday loan calculator

Are you looking for payday loans in Yulan, New York? Unfortunately, payday loans are prohibited in the state of New York. While this may be frustrating for those seeking quick financial solutions, it’s important to understand the reasoning behind the ban and explore alternative options. In this article, we will explore the ins and outs of payday loans, why they are prohibited in New York, and alternative solutions to consider.

What are payday loans?

Payday loans are small-dollar, short-term loans that typically come with high interest rates and fees. These loans are designed to provide quick access to cash for those experiencing financial emergencies or unexpected expenses. The borrower writes a post-dated check for the loan amount plus fees, which the lender cashes on the borrower’s next payday.

While payday loans may seem like a convenient solution at first glance, they can quickly become a debt trap for those who are unable to repay the loan on time. The high fees and interest rates can make it difficult for borrowers to catch up, leading to a cycle of debt and financial instability.

Why are payday loans prohibited in New York?

New York state has effectively banned payday loans in the interest of protecting consumers from predatory lending practices. The state’s Department of Financial Services has stated that payday loans are “designed to trap borrowers in debt,” and has taken action to prohibit payday lending in the state.

Under New York law, lenders are prohibited from offering loans with an APR (annual percentage rate) above 25%. Payday loans, with their high fees and interest rates, often carry APRs well above this threshold, making them illegal in New York state.

Alternative options to consider

While payday loans may not be an option in New York, there are several alternative solutions to consider. These include:

  • Personal loans: Personal loans are unsecured loans that can be used for a variety of purposes. They typically have lower interest rates than payday loans and longer repayment terms, making them a more affordable option for many borrowers.
  • Credit counseling: If you’re struggling with debt and financial instability, credit counseling can be a helpful resource. Counselors can work with you to create a budget, negotiate with creditors, and explore debt management options.
  • Credit cards: While credit cards can also be a source of high-interest debt if not used responsibly, they can be a more affordable option than payday loans. Look for cards with low interest rates and no or low annual fees.
  • Community assistance programs: Many communities have assistance programs that can help with emergency expenses, such as rent and utility bills. Contact your local government or community organization to explore these options.

Interesting facts about Payday loans in Yulan, New York

  • New York has one of the lowest average payday loan interest rates in the country at 16.3%.
  • On average, payday borrowers in New York pay $10 in fees for every $100 borrowed.
  • The Center for Responsible Lending estimated that payday lending in New York could result in $790 million in fees annually.

Apply Now

If you’re in need of a loan, TheGuaranteedLoans can help connect you with potential lenders. As a connector service, we work with a network of lenders to help you find the best loan options for your needs. Fill out our online application today to get started.

Remember, while payday loans may not be an option in New York, there are several alternative solutions to consider. We encourage you to explore these options and make an informed decision that works for your financial situation.

F.A.Q.

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

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

Can I be harassed or threatened by a lender for not paying back an illegal payday loan in Yulan, New York?

No, you cannot be harassed or threatened by a lender for not paying back an illegal payday loan in Yulan, New York. If you have been harassed or threatened, you can report the lender to the New York State Department of Financial Services.