Payday Loans in Ludlow, Illinois

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No payday loan companies in Ludlow, IL. Consider companies in other cities:

Company nameAddressZip codePhone number
Banterra Bank 110 E Oak St, West Frankfort, IL 62896 +1 (618) 932 - 2131
Payday Loans Joliet Joliet, IL 60432
Security Finance 2222 Plainfield Rd UNIT A, Crest Hill, IL 60403 +1 (815) 773 - 9438
Vibrant Credit Union - East Moline Branch 1101 13th Ave, East Moline, IL 61244 +1 (800) 323 - 5109
Walmart Money Center 4883 IL-130, Olney, IL 62450
NuMark Credit Union 8001 W 159th St, Tinley Park, IL 60477 +1 (708) 429 - 8590
Sun Loan Company 901 W Morton Ave #112b, Jacksonville, IL 62650 +1 (217) 245 - 1300
Title Cash 1300 E Washington St, East Peoria, IL 61611 +1 (309) 699 - 6840
USA Loans 292 S Larkin Ave, Joliet, IL 60436 +1 (815) 730 - 1400
U.S. Bank Branch 1411 Lewis Rd, Edwardsville, IL 62025 +1 (618) 692 - 7000

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Ludlow, IL, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Moline, IL, Same Day Loans in Mount Prospect, IL, Payday Loans in Mundelein, IL, Payday Loans in Naperville, IL, Emergency Loan in North Chicago, IL, Payday Loans in Northbrook, IL, Payday Loans in Oak Lawn, IL and Quick Loan in Oak Park, IL. 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 Ludlow, IL.

Payday Loans Available in Ludlow, IL By The Following ZIP Codes:

60949

Are Payday Loans Legal In Ludlow, Illinois?

Loan Rates and Fees, Laws and Regulations in Illinois.

Illinois Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)404
Maximum Loan Amount$1,000 (or 25% of the gross monthly income)
Minimum Loan Term13 days
Maximum Loan Term120 days
Number of Rollovers Allowed0
Finance Charges15.5% per $100

Ludlow, IL payday loan calculator

Payday loans have become a popular financial solution for many people in need of quick access to cash. One such place where payday loans are legal is Ludlow, Illinois. These types of loans help people cover unexpected expenses, emergencies, or bills that they can’t afford to pay before their next paycheck.

How Payday Loans Work in Ludlow, Illinois

Payday loans are short-term loans, usually lasting about two weeks, that allow consumers to take out small cash advances based on their income and credit history. In Illinois, borrowers can typically borrow up to $1,000, with the actual amount depending on their income and other factors. They’re expected to repay the loan on their next payday, hence the name “payday loan.”

When applying for a payday loan in Ludlow, consumers must provide proof of income and identification. Most lenders will also require the borrower to provide a post-dated check or authorize an automatic debit from their bank account for the full loan amount plus fees and interest. The fees and interest rates associated with payday loans in Illinois are regulated by state law, and lenders must comply with those laws to operate legally.

Pros and Cons Of Payday Loans

Payday loans can be beneficial in certain situations. They offer quick access to cash with no need for collateral. This makes them an attractive option for those without credit cards, home equity, or other forms of traditional credit.

However, payday loans can also come with high fees and interest rates that can trap borrowers in a cycle of debt. This is particularly true for people who repeatedly roll over their loans or take out additional loans to pay off previous ones. Payday loans can also negatively impact the borrower’s credit score if they default on the loan or fail to make timely payments.

Interesting Fact About Payday Loans in Ludlow, Illinois

  • According to the Illinois Department of Financial and Professional Regulation, the average annual percentage rate (APR) for payday loans in Illinois is 404%. This is significantly higher than the average credit card interest rate of about 16%.

Apply Now For A Payday Loan In Ludlow, Illinois

If you’re in need of quick cash in Ludlow, Illinois, TheGuaranteedLoans can help you connect with potential lenders who can offer payday loans. We are a connector service that helps consumers find lenders who can provide the financing they need.

Please note that TheGuaranteedLoans is not a direct lender, and we don’t make credit decisions. We facilitate the connection between borrowers and lenders, making it easy for you to apply for a loan online. With our convenient online application process, you can get started today and potentially get the funds you need to cover your expenses.

Apply now on our website and get connected with a lender that fits your needs!

F.A.Q.

Can I get a payday loan if I have a bankruptcy in Ludlow, Illinois?

Yes, you can still qualify for a payday loan in Ludlow, Illinois even if you have filed for bankruptcy. However, the lender may consider your bankruptcy when determining loan eligibility and terms.

Can I get a payday loan if I have bad credit in Ludlow, Illinois?

Yes, payday loans are designed for individuals with poor or no credit history. However, lenders may still require proof of income and other financial information to determine loan eligibility.