Payday Loans in Bureau, Illinois

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

Company nameAddressZip codePhone number
Community State Bank of Dixon 1021 N Galena Ave, Dixon, IL 61021 +1 (815) 284 - 8500
Jackson Hewitt Tax Service 1160 W Morton Ave, Jacksonville, IL 62650 +1 (217) 732 - 2100
Millennium Trust Company 2001 Spring Rd 700, Oak Brook, IL 60523 +1 (630) 368 - 5600
Same Day Payday Loans W Illinois Ave, Aurora, IL 60506 +1 (855) 748 - 5759
Cornerstone Credit Union 615 W 3rd St, Sterling, IL 61081 +1 (815) 625 - 9276
First American Bank 11821 S Western Ave, Chicago, IL 60643 +1 (773) 524 - 4000
World Finance 221 N Park Ave, Herrin, IL 62948 +1 (618) 988 - 8274
Central Illinois Credit Union 2106 W John St, Champaign, IL 61821 +1 (217) 356 - 9721
First Bankers Trust Co 1395 Buchanan St, Carthage, IL 62321 +1 (217) 357 - 3621
Fast Payday Loans Arlington Heights 120 S Kennicott Ave, Arlington Heights, IL 60005

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Bureau, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Arlington Heights, IL, Payday Loans in Aurora, IL, Payday Loans in Bartlett, IL, Payday Loans in Belleville, IL, Payday Loan Companies in Berwyn, IL, Payday Loans in Bloomington, IL, Emergency Loan in Bolingbrook, IL and Payday Loans in Buffalo Grove, 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 Bureau, IL.

Beautiful sights of Bureau, IL

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

61315

Are Payday Loans Legal In Bureau, 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

Bureau, IL payday loan calculator

Everything You Need to Know About Payday Loans in Bureau, Illinois

Payday loans can be a useful financial tool when you need a small amount of cash quickly. While they come with some risks, they can help cover unexpected expenses between paychecks and are legal in Illinois. Here’s everything you need to know about payday loans in Bureau, Illinois.

What Are Payday Loans?

A payday loan is a short-term, high-interest loan meant to tide you over until your next paycheck. They are typically small-dollar loans, ranging from $100 to $1,000, and are designed to be repaid in full on or shortly after your next payday.

How Do Payday Loans Work in Illinois?

In Illinois, payday loans are legal and regulated by state law. The maximum loan amount is $1,000 or 25% of your gross monthly income, whichever is less. The loan term must be at least 13 days, and lenders must provide a repayment plan of up to 180 days for borrowers who are unable to repay the loan in full on their next payday.

  • Interest Rates: Payday lenders in Illinois can charge up to $15.50 per $100 borrowed. This means that for a $300 loan, you could pay up to $46.50 in interest fees.
  • Rollovers and Renewals: Illinois law prohibits rollovers and renewals on payday loans, which means you cannot take out a new loan to pay off an existing loan.
  • Collection Practices: If you are unable to make a payment on your payday loan, the lender can charge one NSF fee of up to $25. The lender is also allowed to take legal action against you if you fail to repay the loan.

What Are the Risks of Payday Loans?

While payday loans can help cover unexpected expenses, they come with some risks:

  • High Interest Rates: Payday loans often come with high-interest rates, making them an expensive form of credit.
  • Short Repayment Period: Payday loans typically must be repaid within a few weeks, which can be difficult if you are already struggling financially.
  • Debt Cycle: If you are unable to repay your payday loan on time, you may be tempted to take out another loan to cover the fees. This can quickly lead to a cycle of debt and financial stress.

Apply Now for a Payday Loan in Bureau, Illinois

If you are considering a payday loan in Bureau, Illinois, you can apply now on TheGuaranteedLoans website. As a connector service, we are not a direct lender, but we can facilitate your connection with potential lenders. Our online application process is quick and easy, and many borrowers receive funds in as little as one business day.

Remember to only borrow what you can afford to repay, and to carefully consider the risks before taking out a payday loan. With responsible borrowing and timely repayment, a payday loan can be a useful financial tool in a time of need.

Interesting Facts and Statistics About Payday Loans in Bureau, Illinois

  • According to the Illinois Department of Financial and Professional Regulation, there were 476,788 payday loans originated in the state in 2020, with a total loan volume of $1.4 billion.
  • The average payday loan in Illinois is $365.
  • The average annual percentage rate (APR) on payday loans in Illinois is 297%.

F.A.Q.

Are there any protections for borrowers in Bureau, Illinois who take out payday loans?

Yes, Illinois law provides several protections for payday loan borrowers. For example, lenders must provide borrowers with a clear and concise written contract outlining the terms of the loan, including the interest rate, fees, and repayment schedule.

Can payday lenders in Bureau, Illinois garnish my wages if I default on my loan?

No, in Bureau, Illinois, payday lenders cannot garnish wages to collect on unpaid payday loans. Borrowers who are facing wage garnishment related to their payday loan should contact the Illinois Attorney General's office for assistance.