Payday Loans in Congerville, Illinois

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

Company nameAddressZip codePhone number
Heights Finance Corporation 503 N Prospect Rd, Bloomington, IL 61704 +1 (309) 662 - 3868
Advance America 2438 Sycamore Rd, DeKalb, IL 60115 +1 (815) 756 - 3726
Cash Store 401 E Walnut St, Carbondale, IL 62901 +1 (618) 549 - 9500
World Finance 400 W Clark Ave Ste 104, Effingham, IL 62401 +1 (217) 342 - 2922
Tower Loan 23 Executive Plaza Ct STE 1, Maryville, IL 62062 +1 (618) 288 - 1724
Security Finance 7007 N 2nd St Suite A, Machesney Park, IL 61115 +1 (815) 633 - 3000
Security National Bank 103 S Pine St, Irving, IL 62051 +1 (217) 533 - 4351
Peoples State Bank of Sumner 2388 IL-250, Sumner, IL 62466 +1 (618) 936 - 2396
Advance America 2525 Green Mt Commons Dr #110, Belleville, IL 62221 +1 (618) 234 - 2975
Payday Loans Orland Park 9701-9751 W 144th Pl, Orland Park, IL 60462

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Congerville, IL, you can try to find different companies in big cities near by. Check out the following pages here: Online Loans in Crystal Lake, IL, Bad Credit Loans in Danville, IL, Payday Loans in Decatur, IL, Payday Loans in Dekalb, IL, Payday Loans in Des Plaines, IL, Payday Loan for Downers Grove, IL, Payday Loans in Dundee, IL and Short-term Loans in Elgin, 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 Congerville, IL.

Beautiful sights of Congerville, IL

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

61729

Are Payday Loans Legal In Congerville, 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

Congerville, IL payday loan calculator

Payday Loans in Congerville, Illinois

Payday loans are a popular type of short-term loan that many people turn to when they need cash fast. These loans are designed to be repaid in full on your next payday, hence the name. While payday loans can be a financial lifeline for those who need money quickly, they can also come with high interest rates and fees.

If you’re a resident of Congerville, Illinois, and you’re considering taking out a payday loan, it’s important to understand the laws and regulations surrounding these types of loans. In Illinois, payday loans are legal, but there are still certain rules and restrictions that lenders must adhere to.

Rules and Regulations

Illinois law stipulates that payday loans cannot exceed $1,000 or 25% of your gross monthly income, whichever is less. Additionally, the term of the loan cannot be shorter than 13 days or longer than 120 days. Lenders are also required to provide borrowers with a written agreement that outlines the terms and conditions of the loan, including the repayment schedule and any fees that may be charged.

Illinois law also prohibits lenders from rolling over payday loans, which means they cannot extend the loan term by adding additional fees. However, borrowers are allowed to enter into an extended payment plan if they are unable to repay the loan on the due date. This plan must be offered at no additional cost and must be agreed to by both the borrower and the lender.

Interest Rates and Fees

The interest rates and fees associated with payday loans in Congerville, Illinois, can vary depending on the lender and the amount of the loan. However, Illinois law caps the interest rate on payday loans at 404% APR. Additionally, lenders are allowed to charge a fee of up to $15.50 per $100 borrowed.

It’s important to keep in mind that payday loans can be extremely expensive, especially if you are unable to repay the loan on time. If you’re considering taking out a payday loan, it’s essential to carefully consider the cost and whether or not you’ll be able to repay the loan on the due date.

Apply Now

If you’re in need of a payday loan in Congerville, Illinois, TheGuaranteedLoans can help. We are a connector service that can connect you with potential lenders who may be able to offer you a loan. To apply, simply fill out our online application form, and we’ll match you with lenders who meet your needs.

It’s important to note that TheGuaranteedLoans is not a direct lender, and we do not make credit decisions or determine loan terms. We are a connecting service that aims to connect borrowers with lenders who may be able to offer them a loan. If you’re approved for a loan, you’ll work directly with the lender to determine the terms and conditions of the loan.

Interesting Facts and Statistics

  • According to a report by the Illinois Department of Financial and Professional Regulation, Illinois residents took out nearly 230,000 payday loans in 2020
  • The average payday loan in Illinois was $366 in 2020
  • In Illinois, the average APR for payday loans is 297%
  • The state of Illinois receives regulatory reports on payday lending from the Illinois Department of Financial and Professional Regulation and data from one of the largest payday lending companies in the state, Advance America

As with any financial decision, it’s important to carefully consider all of your options before taking out a payday loan. While these loans can be a quick source of cash, they can also come with high interest rates and fees that can put you in a worse financial situation if you’re unable to repay the loan. Make sure to read all of the terms and conditions carefully and only borrow what you can afford to repay on time.

F.A.Q.

Can payday lenders in Congerville, Illinois operate without a license?

No, all payday lenders in Congerville, Illinois must be licensed by the state in order to operate. Borrowers can check the Illinois Department of Financial and Professional Regulation's website to verify that a lender is licensed before taking out a loan.

Is there a maximum number of payday loans that a borrower can take out in Congerville, Illinois?

Yes, Illinois law limits borrowers to taking out a maximum of two payday loans at any one time. Borrowers must also wait at least seven days between taking out consecutive payday loans.