By Shawn Martin
New York payday loan laws are pretty much non-existent. This state does not have any specific legislation covering payday loans and these companies are alive and thriving.
Loan companies can charge any interest rate agreed upon between the lender and the borrower, and there are no limits on the length or the amount of the loans.
You may roll over these loans as many times as you wish, and you may take out as many as you feel you can manage.
One has to be very careful in this state not to get in over one’s head with payday loan debt.
It is imperative to only borrow what you can pay back in full on the first due date. If you do not follow this advice you can easily find yourself caught in the payday loan trap.
Out of control payday loan debt creates harassing phone calls not only to you at home and at work, but also to all of the references you may have listed when you took out these loans.
These loans can rack up huge fees and roll over charges and many times you may be paying double to triple the amount of the loan by the time you finally get them retired if you can get them paid at all.
We can help!
If you have found yourself over your head in payday loan debt in New York or any other state we can help!