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Looking for an Unsecured Personal Loan in New York?

credit check for unsecured personal loan New YorkYou’ve been there before: on your smartphone, looking at your bank statement, and wondering why there was nothing left to pay the rest of the unpaid bills. “Where did it all go?” you may have asked yourself. What did you do? Did you ignore the issues causing your money to disappear almost before you even saw it? Were you aware that help was available? Did you take control of the situation and seek that help? If you did nothing last time this happened to you, don’t repeat that mistake! Let us find you a solution to your financial problems with our Loan Discovery Process.

Now you’re finding yourself in a similar situation and again are unsure of where to turn for help. Last time, you may have sought out lenders to borrow money from but they didn’t explain the details to you. They left you just as confused as you were when you were looking at your phone and seeing 0.00. Not with Loans Now. We explain how it works and walk you through the process. Our network of lenders is quick to provide you with options, unlike the lenders you dealt with previously. In fact, most results are delivered within 5 minutes of beginning the process. If you need money fast, we are your answer!

Unsecured Loans for People with Bad or No Credit

The last time this scenario happened to you and you took charge by taking out a loan, did you first check your credit score? If not, then you probably discovered after it was too late that your credit was not as bad as you thought. This led you to pay higher interest rates and larger monthly payments that may have been a strain on your monthly budget. Don’t wait until after you receive a loan to check your credit score; our process actually has you do this before you do anything else, for the following reasons:

  • So you know exactly what your credit position is
  • So your current score is not affected by the loan discovery process (there are no initial credit checks with our service)
  • So you do not have to pay a fee for having your credit pulled (it is usually free for you to pull your own credit)
  • So the process can be completed quickly (usually within 5 minutes)
  • So you can start planning on how you are going to rebuild your credit

An unsecured personal loan can do more than simply pay those bills you didn’t have enough money to cover yourself. If you have bad credit and are seeking a loan, now is the right time to make it part of your overall credit-repair plan. With Loans Now, you can request a loan in any dollar amount from $500 up to $70,000. This is the perfect opportunity to not only get you caught up on bills, but you can also use it to consolidate your credit card debt, build an emergency fund, or do whatever is necessary to fix the issues in your credit history.

The Empire State

New York has the 3rd largest economy within the United States, and a lot of that has to do with the city of the same name. Industries of every type are active within New York City, including trade, manufacturing, healthcare, and finance. In fact, NYC is the largest hub in the nation for financing, arts, and communication. With the state being such a popular draw for people of all ages and nationalities, New York has a rather high cost of living. The demand for housing is high and the availability of it is slim in the lower part of the state; this is why so many people live outside of the city and commute every day.

The cost of living is also a reason why New Yorkers carry such a high credit card debt. While the average income per household in the state is $63,000, it is still not enough to cover expenses — especially for someone living in the Big Apple. Because credit cards are so easily accessible, millions of New Yorkers simply pay their bills with their cards, ignorant to the high rates of interest being charged each month. On average, the credit card debt in the state is $8,800, putting New York in 8th for states with the highest credit card debt accumulated.

New York Laws and Regulations for Bad Credit Personal Loanscredit score

New York has two separate laws establishing maximum interest rates for loans issued in the state. The General Obligation Law § 5-501 sets this rate at 6% per year for loans issued in absence of a contract. However, according to § 14-a of the New York Banking Law, the set maximum interest rate permissible for contracted consumer finance loans is 16%. This protects the people of New York from usurious lenders trying to take advantage of their current financial situation.

To prevent unscrupulous lenders from cheating hard-working people out of their money, New York has set the penalty for usurious lending as such: the contract for the loan becomes void and the borrower becomes no longer responsible for repayment of the loan (§ 5-511). Also, any amount of interest in excess of the legal limit that a borrower has already paid must be refunded by the lender (§ 5-513). Even though there are laws against such practices, and penalties that cost lenders money, there are still some who attempt to cheat consumers. Be sure to read the contract before signing.

Loans Now: Core Policies & Procedures

  • Never collect or share sensitive customer information: SSN, DOB, Address.
  • Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
  • Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them

New York Personal Loan for Bad Credit Lending Regulator

New York has multiple offices for its Department of Financial Services located across the state. These locations are placed to assist the department in regulating the consumer finance industry. Each office is responsible for licensing, routine inspections of reports, and investigating complaints of institutions within their designated geographic regions.

New York State Department of Financial Services

One State Street

New York, NY 10004-1511
(212) 480-6400

New York State Department of Financial Services

One Commerce Plaza
Albany, NY 12257
(800) 342-3736

Personal Loans Starting at 4.99%
  • Loan Discovery Process
  • Credit Scores Reviewed to 450
  • 2, 3, 5 & 7 Year Terms
  • Loan Amounts $500 - 70K

No Initial Credit Check!

* Using tool will not lower your score.
* We do not share your information.
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