Payday Loans in Fayette, New York

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

Company nameAddressZip codePhone number
Bank of Castile 2367 NY-19, Warsaw, NY 14569 +1 (585) 786 - 3195
Fox Financial 487 N Union St, Olean, NY 14760 +1 (716) 373 - 5904
Belleville & Associates 42 Park St 1617, Tupper Lake, NY 12986 +1 (518) 359 - 3333
Medallion Financial Corporation 437 Madison Ave 38, New York, NY 10022 +1 (212) 328 - 2100
M&T Bank 294 Main St, Saugerties, NY 12477 +1 (845) 246 - 4961
Canandaigua National Bank & Trust 2075 Monroe Ave, Rochester, NY 14618 +1 (585) 242 - 5874
Chester's Broad Street Liquor 882 N Clinton Ave, Rochester, NY 14605 +1 (585) 454 - 1387
Stefans Associates 137 Woodbury Rd, Woodbury, NY 11797 +1 (516) 692 - 2744
Community Bank, N.A. 7395 Turin Rd Suite 1, Lowville, NY 13367 +1 (315) 376 - 7516
CFCU Community Credit Union - Mortgage Office 1050 Craft Rd, Ithaca, NY 14850 +1 (607) 257 - 8500

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Fayette, NY, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Albany, NY, Payday Loans in Babylon, NY, Guaranteed Loans in Bay Shore, NY, Payday Loans in Binghamton, NY, Quick Loan in Brentwood, NY, Payday Loans in Brookhaven, NY, Payday Loans in Brooklyn, NY and Payday Loans in Buffalo, 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 Fayette, NY.

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

13065

Are Payday Loans Legal In Fayette, 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

Fayette, NY payday loan calculator

Payday loans are a type of short-term borrowing where a lender provides borrowers with a cash advance that is intended to be repaid on the next payday. These loans are typically associated with high fees and interest rates, and are often marketed to individuals with poor credit history who are in need of immediate cash. However, in Fayette, New York, payday loans are prohibited by state law.

Why are Payday Loans Prohibited in New York?

In 2009, the New York State government passed the first set of laws regulating the payday loan industry. The laws aimed to protect consumers from the high fees and interest rates commonly associated with these loans. These regulations require that lenders be licensed by the state and restrict the amount of interest that can be charged on payday loans to 25 percent per year. Additionally, payday loans in New York cannot be rolled over or extended, and lenders must provide clear and upfront disclosures about the terms and fees associated with the loan.

What are the Alternatives to Payday Loans in Fayette?

While payday loans are prohibited in Fayette, there are many other options available to individuals who need quick cash. Some of these alternatives include:

  • Personal loans: Borrowers can consider applying for a personal loan from a bank or credit union. These loans typically have lower interest rates and longer repayment terms than payday loans.
  • Credit cards: Borrowers can use their existing credit cards to cover unexpected expenses. If they don’t have a credit card, they can apply for one with a low interest rate or a 0% introductory offer.
  • Employer advances: Borrowers can ask their employers for an advance on their paycheck to cover unexpected expenses. This option can help avoid interest and fees associated with borrowing money.

Interesting Facts About Payday Loans in Fayette, New York

Here are some verified facts about payday loans in Fayette, New York:

  • New York State has some of the strictest laws when it comes to payday loans. The state caps the interest rate that can be charged on payday loans at 25 percent per year, and prohibits the practice of rolling over loans.
  • In 2018, New York State shut down four payday loan companies and fined them a total of $1.2 million for violating state laws and charging customers exorbitant interest rates and fees.
  • The average payday loan borrower in the United States takes out eight loans per year, with an average loan amount of $375. This leads to an average of $520 in fees per borrower per year.

Apply Now

At TheGuaranteedLoans, we offer a secure and convenient online application process for individuals seeking a short-term loan. As a connector service, we work with a network of potential lenders who can provide borrowers with the cash they need. Our application process is quick and easy, and can be accessed from the comfort of your own home. Apply now to get connected with a lender and get the cash you need today!

F.A.Q.

Can a payday loan company garnish my wages in Fayette, New York?

No, a payday loan company cannot garnish your wages in Fayette, New York because these loans are illegal in the state.

Can a payday loan company repossess my property in Fayette, New York?

No, a payday loan company cannot repossess your property in Fayette, New York because these loans are illegal in the state.