Obtaining payday loans in New York
What is a Payday Loan?
A payday loan or payday advance is a small financial loan; typically up to $1000, that can be used to help resolve short term financial emergencies. Payday loans can be an excellent short term source of emergency funds, but the loan needs to be repaid when you get your next paycheck. The loan payment date will be clearly spelled out in the signed loan agreement.
What is the APR?
We are not the lender. Only your lender can provide you with information about your specific loan terms and APR and the implications for non-payment of your loan. The terms of the loan will be clearly spelled out in your loan agreement, please review the loan agreement and related documents before signing. If you do not find the terms of the loan acceptable, you can refuse to sign the loan agreement. You are under no obligation until you sign the loan agreement. Ask your lender for their current rates and charges and their policies for non-payment.
Our lenders may offer you a loan with an APR between: 200% and 2281%. Loans on the lower end of the APR range may be for a larger loan amount and for a longer term. Loans on the higher end of the APR range may be for a smaller loan amount and for a shorter term. Depending on your credit needs and desire to pay your loan off quickly, your lender may only offer you loans with an APR near the high end of the range displayed.
What if I don't pay (implication of non & late payment)?
If you do not pay your loan according to its terms, your lender may:
-Charge you late fees
-Send your account to a collection agency
-Report your information to a consumer reporting agency, which may negatively affect your credit score
-Offer to renew, extend or refinance your loan, which may cause you to incur additional fees, charges and interest
More on Payday loans in NY
Bridge Payday Loan has a massive network of lenders throughout the United States, and processes loans twenty four hours a day, seven days a week.
There are no specific laws that prohibit payday loans in New York when the loans are originated in another state. Many people who are in need of urgent money to meet their requirements make use of such facilities to apply for the loan. This means that if there is a car that’s desperately in need of repairs for work, people now are able to locate a place to turn for small loans for these repairs without having to get fired due to lack of transportation.
The lending companies are not allowed to charge high interest rates on the loans that they provide to individuals. They can, however, collect fees for the services that are offered. Due to this there are many lending companies that offer payday loans in New York by disclosing interest rates as fees.
There are various reasons that people demonstrate where they require money before their next paycheck. These are usually small amounts of money that are required to help customers pass over difficult financial situations. Most people take loans in the range of $100 to $1000 and these amounts are paid when they get their next paycheck.
There are many people who do not have a good credit record and this makes it very difficult to get a regular loan from the bank during emergency situations. The rules and regulations that allow banks to lend to individuals are very stringent and you will not be able to get them approved if you do not have a good credit score. You will be able to get cash quickly and easily when you apply for payday loans. There are minimum requirements that need to be fulfilled by individuals who apply for such loans. You will be able to make an online application even if you do not have a good credit score. The loans are usually applied within a time period of twenty four hours or less depending on the details that are provided in the application.
The basic information that needs to be provided by the applicant will contain details of their checking account and income. They will also need to have completed eighteen years of age to apply for the loan. The lending companies will check all details that are provided in the application form and the cash is transferred immediately to the checking account of the applicant after this process is completed.
If you are unable to pay the loan amount within the specified period, you will be able to extend the deadline by paying additional fees to the lending company. Although there are no state sanctioned payday loans in New York you can make use of the other opportunities that are available to get immediate money.