Payday Loans in Maquon, Illinois

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

Company nameAddressZip codePhone number
Mid-Illini Credit Union at Mount Pisgah 801 W Market St, Bloomington, IL 61701 +1 (309) 661 - 1166
TCF Bank 2400 E Lincoln Hwy, New Lenox, IL 60451 +1 (800) 823 - 2265
Illinois Title Loans, Inc. 4513 Avenue of the Cities, Moline, IL 61265 +1 (309) 797 - 1200
Midland Federal Savings and Loan Association 8929 S Harlem Ave, Bridgeview, IL 60455 +1 (708) 598 - 9400
BMO Harris Bank 4844 Hononegah Rd, Roscoe, IL 61073 +1 (815) 623 - 2322
TCF Bank 507 E Woodlawn Ave, La Grange Park, IL 60526 +1 (800) 823 - 2265
La Salle State Bank 654 1st St, Lasalle, IL 61301 +1 (815) 223 - 8800
Sun Loan Company 1836 Broadway St, Quincy, IL 62301 +1 (217) 224 - 0946
Jeff Wilson 240 E Chestnut St, Olney, IL 62450 +1 (618) 395 - 8676
Clarendon Hills Bank 200 Burlington Ave, Clarendon Hills, IL 60514 +1 (630) 323 - 1240

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Maquon, IL, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Bolingbrook, IL, Payday Loans in Buffalo Grove, IL, Online Loans in Calumet City, IL, Payday Loans in Carol Stream, IL, Guaranteed Loans in Carpentersville, IL, Quick Loan in Champaign, IL, Quick Loan in Chicago, IL and Payday Loans in Chicago Heights, 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 Maquon, IL.

Beautiful sights of Maquon, IL

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

61458

Are Payday Loans Legal In Maquon, 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

Maquon, IL payday loan calculator

Understanding Payday Loans in Maquon, Illinois

Many people find themselves in need of quick cash to address sudden and unexpected expenses. In such situations, payday loans are often a tempting option. If you live in Maquon, Illinois, and are considering getting a payday loan, this article will provide you with some valuable insights and guidance.

What are Payday Loans?

Payday loans are short-term loans that are typically due on the borrower’s next payday. These loans are usually for small amounts of money, usually between $100 and $1,000. Payday loans are intended to provide quick and easy access to cash for unexpected expenses or emergencies such as medical bills, car repairs, or home repairs.

Are Payday Loans Legal in Illinois?

Yes. Payday loans are legal in Illinois under the Consumer Installment Loan Act (CILA). The CILA sets various regulations and limits on the fees, charges, and loan terms associated with payday loans.

How Do Payday Loans Work in Maquon, Illinois?

The process of getting a payday loan in Maquon, Illinois, is relatively straightforward. To qualify for a payday loan, you need to meet the following eligibility criteria:

  • You must be at least 18 years old
  • You must have a steady source of income
  • You must have a checking account or a prepaid debit card
  • You must be a US citizen or a permanent resident

Once you have met these eligibility criteria, you can apply for a payday loan through a direct lender or a lending network such as TheGuaranteedLoans. The lender will require you to fill out a loan application form and provide relevant documents such as proof of income and identification.

If the lender approves your loan application, they will typically deposit the funds into your checking account or prepaid debit card within one business day. On your next payday, the loan amount plus fees and interest will be automatically deducted from your account.

The Pros and Cons of Payday Loans in Maquon, Illinois

Like any other financial product, payday loans have their advantages and disadvantages. Here are some of the pros and cons of payday loans in Maquon, Illinois:

Pros:

  • Payday loans are quick and easy to obtain
  • Payday loans do not require a good credit score
  • Payday loans can help you address unexpected and emergency expenses

Cons:

  • Payday loans have high interest rates and fees
  • Payday loans may lead to a debt cycle if you cannot pay them back in time
  • Payday loans do not help you build your credit score

Interesting Facts and Statistics About Payday Loans in Maquon, Illinois

Did you know that the average payday loan amount in Illinois is $354, and the average APR (annual percentage rate) is 404%? In Maquon, Illinois, there are several payday loan lenders, and the loan amounts and terms may vary from one lender to another. However, it is crucial to read and understand the loan terms and conditions, including fees and interest rates, before signing up for a payday loan.

Apply Now

If you need a payday loan in Maquon, Illinois, TheGuaranteedLoans can help connect you with potential lenders. We are not a direct lender, but we provide a platform for borrowers to find suitable lenders. Fill out our online application form, and we will match you with lenders who can offer payday loans that fit your needs and financial situation.

Remember, payday loans are a short-term solution to unexpected expenses. Make sure you can pay back the loan on time and think carefully before borrowing money. If you have any questions or concerns about payday loans in Maquon, Illinois, consult a financial advisor or contact TheGuaranteedLoans for guidance.

F.A.Q.

Are there any protections in place for consumers who take out payday loans in Maquon, Illinois?

Yes, Illinois law provides several protections for consumers who take out payday loans. For example, lenders are required to provide clear and concise information about the terms of the loan, and cannot use deceptive or unfair practices. Borrowers also have the right to cancel a payday loan within 24 hours of signing the loan agreement.

Can I be arrested or have my wages garnished if I default on a payday loan in Maquon, Illinois?

No, Illinois law prohibits lenders from using criminal actions, such as arrest or wage garnishment, to collect on payday loans. If a borrower defaults on a payday loan, the lender can only take legal action to recover the outstanding amount.