Payday Loans in Mason, Illinois

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

Company nameAddressZip codePhone number
CEFCU ATM 500 N Morton Ave, Morton, IL 61550 +1 (800) 542 - 3328
Check Into Cash 911 W Main St, Carbondale, IL 62901 +1 (618) 549 - 6124
loanDepot 18311 N Creek Dr Ste E, Tinley Park, IL 60477 +1 (630) 427 - 8420
Havana National Bank 300 S 2nd St, San Jose, IL 62682 +1 (309) 247 - 3216
TitleMax Title Loans 2633 Northtown Way, Highland, IL 62249 +1 (618) 654 - 1086
Cash Store 1516 N Henderson St, Galesburg, IL 61401 +1 (309) 342 - 5886
MB Financial Bank 401 N La Grange Rd, La Grange Park, IL 60526 +1 (708) 579 - 5200
Midwest Title Loans 1718 Ogden Ave, Lisle, IL 60532 +1 (630) 599 - 7167
Us Bank 1234 S Park Blvd, Freeport, IL 61032 +1 (815) 235 - 8551
Bank of Rantoul 201 E Champaign Ave, Rantoul, IL 61866 +1 (217) 892 - 2143

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Mason, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Schaumburg, IL, Payday Loans in Skokie, IL, Payday Loans in Springfield, IL, Payday Loans in Streamwood, IL, Payday Loans in Tinley Park, IL, No Credit Check Loans in Urbana, IL, 24-Hour Loan in Waukegan, IL and Short-term Loans in Wheaton, 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 Mason, IL.

Beautiful sights of Mason, IL

Are Payday Loans Legal In Mason, 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

Mason, IL payday loan calculator

The Pros and Cons of Payday Loans in Mason, Illinois

While payday loans can be a useful solution for those in need of short-term financial assistance, it’s important to understand the pros and cons of this type of borrowing. In this article, we’ll be taking a closer look at payday loans in Mason, Illinois.

What is a Payday Loan?

A payday loan is a type of short-term borrowing that is typically paid back within a few weeks. These loans are typically for small amounts of money, usually a few hundred dollars at most. They are intended to help people cover unexpected expenses, such as car repairs or medical bills, that can’t wait until their next paycheck arrives.

Pros of Payday Loans in Mason, Illinois

  • If you need money quickly, payday loans can provide a fast solution. The application process is usually quick and easy, and you can often get your money within a day or two of applying.
  • Payday loans are available to people with poor credit. This can be an advantage if you’ve been turned down for other types of loans due to your credit score.
  • Payday loans in Mason, Illinois are legal and regulated by state law, which can provide some protections for borrowers.

Cons of Payday Loans in Mason, Illinois

  • Payday loans come with extremely high interest rates, often in excess of 400 percent. This means that if you borrow $100, you may end up owing $400 or more in interest and fees within a few weeks.
  • The short repayment period for payday loans means that it can be difficult to pay off the loan on time, especially if you’re already struggling with other bills and debts.
  • Some payday lenders in Mason, Illinois have been criticized for predatory lending practices, including excessive fees and interest rates that trap borrowers in a cycle of debt.

How to Apply for a Payday Loan in Mason, Illinois

If you’re considering a payday loan in Mason, Illinois, it’s important to research your options carefully and choose a reputable lender. TheGuaranteedLoans can help you connect with lenders who are licensed and follow all state and federal regulations.

To apply for a payday loan, you’ll need to provide proof of income and employment, as well as a valid ID and bank account. The lender will typically require you to write a postdated check for the full amount of the loan plus interest and fees, which they will cash on the due date.

The Bottom Line

Payday loans in Mason, Illinois can be a useful tool for those who need quick cash to cover unexpected expenses. However, they come with high interest rates and other fees that can make them difficult to repay. It’s important to weigh the pros and cons of payday loans carefully and make sure you have a plan for repayment before you apply.

Interesting Facts and Statistics About Payday Loans in Mason, Illinois

  • According to a study by the Pew Charitable Trusts, about 12 million Americans use payday loans each year.
  • Illinois has some of the strongest payday lending regulations in the country, including limits on the amount of fees and interest that lenders can charge.
  • Average APR on payday loans in Illinois is 404%, according to the Center for Responsible Lending.

Apply Now

Are you in need of a payday loan in Mason, Illinois? TheGuaranteedLoans can help connect you with licensed lenders who follow all state and federal regulations. Fill out our online application form to get started today. Keep in mind that we are not a direct lender and do not make credit decisions ourselves. We are a connector service that can help you connect with potential lenders who can provide the cash you need.

F.A.Q.

Are there any alternatives to payday loans in Mason, Illinois?

Yes, there are several alternatives to payday loans in Mason, Illinois, such as credit union loans, community development financial institution loans, or borrowing from friends or family. Borrowers are encouraged to explore these options before taking out a payday loan.

Can I be charged with criminal activity if I default on a payday loan in Mason, Illinois?

No, in Mason, Illinois, it is illegal for lenders to use criminal charges as a means of collecting on unpaid payday loans. Borrowers who are facing criminal charges related to their payday loan should contact the Illinois Attorney General's office for assistance.