Payday Loans in Jacksonville, New York

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

Company nameAddressZip codePhone number
People's United Bank 25 Waterfront Pl, Port Chester, NY 10573 +1 (914) 939 - 2908
Northwest Bank 1055 Union Rd, Buffalo, NY 14224 +1 (716) 809 - 9000
Bank of America with Drive-thru ATM 27 Division St, Saratoga Springs, NY 12866 +1 (518) 584 - 3301
KeyBank 410 Towne Dr, Fayetteville, NY 13066 +1 (315) 251 - 6200
Trustco Bank Loan Center 6 Metro Park Rd # 1, Albany, NY 12205 +1 (518) 459 - 2707
Legend Group Inc 3532 James St, Syracuse, NY 13206 +1 (315) 422 - 5868
AJM Financial Services 12 Covered Bridge Rd, Warwick, NY 10990 +1 (845) 987 - 7202
M&T Bank 100 Kasson Rd, Camillus, NY 13031 +1 (315) 487 - 1518
English Financial Services 1337 Front St, Binghamton, NY 13901 +1 (607) 723 - 5700
NBT Bank 271 Main St, Schoharie, NY 12157 +1 (518) 295 - 7788

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Jacksonville, NY, you can try to find different companies in big cities near by. Check out the following pages here: Emergency Loan in Carmel, NY, Payday Loans in Centereach, NY, Emergency Loan in Central Islip, NY, Payday Loan Without a Credit Check in Cicero, NY, Payday Loan Without a Credit Check in Clarence, NY, Payday Loans in Clay, NY, Payday Loan Without a Credit Check in Clifton Park, NY and Payday Loans in Commack, 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 Jacksonville, NY.

Are Payday Loans Legal In Jacksonville, 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

Jacksonville, NY payday loan calculator

Everything You Need to Know About Payday Loans in Jacksonville

Payday loans are small, short-term loans that are often used to cover unexpected expenses or bridge the gap between paychecks. However, if you live in Jacksonville, New York, you’re out of luck. Payday loans are banned in the state of New York, including Jacksonville. In this article, we’ll explore why this is the case and what alternatives you can turn to if you’re in need of quick cash.

Why are Payday Loans Prohibited in New York?

New York has some of the strictest payday lending laws in the country, with a cap on interest rates at 25%. Payday lenders charge astronomical interest rates, sometimes exceeding 400%, and their customers often become trapped in a cycle of debt. In 2013, the state’s top financial regulator, the Department of Financial Services (DFS), sent cease-and-desist letters to 35 online payday lenders operating in New York. They also demanded that banks stop processing transactions for these lenders.

The DFS argued that these lenders were violating New York’s usury laws by charging excessive interest rates. They also pointed out that these lenders were attempting to collect on loans in states where payday loans are illegal.

Alternatives to Payday Loans in Jacksonville

While payday loans are illegal in Jacksonville and the rest of New York, there are still plenty of options available if you need quick cash:

Credit Cards

One option is to use a credit card, if you have one. Credit cards often have high-interest rates, but they’re usually lower than what you’d pay for a payday loan. Just be sure to pay off the balance in full as soon as possible to avoid incurring more debt.

Personal Loans

Personal loans are another option to consider, especially if you have decent credit. These loans have lower interest rates than payday loans and are structured as long-term installment loans. This means you’ll have more time to pay off the balance and won’t be forced to renew the loan every few weeks.

Credit Counseling

If you’re struggling with debt and financial hardship, credit counseling is a great resource to turn to. These professionals can help you develop a budget, create a debt repayment plan, and negotiate with creditors on your behalf. They can also offer guidance on how to avoid payday loans and other high-interest debt.

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

  • A 2015 study by the Center for Responsible Lending found that payday loans in New York have an average interest rate of 408%.
  • In 2017, the DFS fined three payday lenders over $200,000 for violating state usury laws.
  • According to a survey by the Jacksonville Community Council, 45% of residents said they have used payday loans or similar services.

Apply Now for the Cash You Need

At TheGuaranteedLoans, we’re committed to connecting our customers with trusted lenders who can offer reliable loan solutions. Though we don’t provide direct lending services, our network of lenders offer a wide range of loan options. All you have to do is fill out a simple online application and we’ll take care of the rest. Remember, it’s important to approach credit responsibly and only borrow what you can afford to repay.

Get started today and let TheGuaranteedLoans help you find the financial support you need.

F.A.Q.

Why are payday loans illegal in Jacksonville, New York?

Payday loans are illegal in Jacksonville, New York because they often have high interest rates and fees that can trap borrowers in a cycle of debt. The state's regulations are designed to protect consumers from predatory lending practices.

What are some alternative options for getting quick access to cash in Jacksonville, New York?

in Jacksonville, New York, consumers can seek out alternative forms of financing, such as small personal loans, credit union loans, or even borrowing from friends or family.