Payday Loans in Gurnee, Illinois

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Payday Loan Companies in Gurnee, IL

Company nameAddressZip codePhone number
BCU 6409 W Grand Ave 60031 +1 (800) 388 - 7000
Nicholas Financial Inc.Gurnee 5572 Grand Ave #3 60031 +1 (224) 399 - 4511
Payday Loans Waukegan 1361-1379 St Paul Ave 60031
Usa Payday Loans 6549 Grand Ave 60031

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Gurnee, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Hanover Park, IL, Guaranteed Loans in Hoffman Estates, IL, Payday Loans in Joliet, IL, 24-Hour Loan in Lombard, IL, Online Loans in Moline, IL, Payday Loans in Mount Prospect, IL, Payday Loans in Mundelein, IL and Payday Loan Companies in Naperville, 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 Gurnee, IL.

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

60031

Are Payday Loans Legal In Gurnee, 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

Gurnee, IL payday loan calculator

Advise to read before applying

Introduction

Payday loans are a form of short-term loan that can provide needed financial assistance when there is an unexpected expense or emergency. Payday loans are designed to bridge the gap between paydays, and provide the funds needed to make it to the next paycheck. In Gurnee, Illinois these loans are available from various lenders and can provide the funds needed in the short term.

Payday Loan Regulations in Illinois

Payday loans are legal in Illinois and are regulated by the Consumer Installment Loan Act. Under this law, lenders are limited to charging no more than 15% per month on the outstanding principal balance of the loan. This law also caps the fees that can be charged for this type of loan, including a one-time loan origination fee of up to $20 and a one-time processing fee of up to $15.

In addition, lenders in Gurnee, Illinois are only allowed to issue a maximum of two payday loans per person at any given time. The loan amount must also be less than $1,000, and borrowers must be able to repay the loan in no more than 45 days.

The Benefits of Payday Loans

Payday loans are a convenient and often necessary form of short-term financing. They provide an easy and fast way to get money when you need it most, and can usually be approved quickly. Payday loans are often used to cover unexpected expenses such as car repairs and medical bills, as well as to pay for things like rent and utilities.

The maximum amount for payday loans in Gurnee, Illinois is $1,000, and these loans are usually due on the borrower’s next payday. This makes them an ideal source of funds for those who need money quickly, but don’t have access to more traditional forms of credit.

The Risks of Payday Loans

It’s important to recognize that payday loans are not a long-term solution to financial problems. The fees and interest associated with these loans can be extremely high, and borrowers may find themselves in a cycle of debt if they are unable to repay the loans in a timely manner.

In addition, payday loans typically do not require a credit check, so they can be easily obtained by borrowers with low or no credit scores. This can make them appealing, but it also means that borrowers may be unable to meet their payment obligations if they take out a loan that is too large for them to handle.

Finding a Payday Loan in Gurnee, Illinois

In Gurnee, Illinois, there are a number of lenders that provide payday loans. These lenders range from banks and credit unions to online services. Shop around to find the best loan terms and conditions, as well as the most competitive fees and interest rates.

When finding a payday loan in Gurnee, Illinois it’s important to make sure that the lender is licensed and follows the Consumer Installment Loan Act. This law ensures that all lenders in Gurnee, Illinois abide by the same regulations and restrictions, and should help to protect borrowers.

Apply Now

If you are in need of short-term, financial assistance in Gurnee, Illinois, a payday loan may be a good option. At TheGuaranteedLoans we can help connect you with a lender in Gurnee, Illinois and get you the funds you need when you need it. Fill out our online application and we can start the process right away. Please remember, TheGuaranteedLoans is not a lender and cannot guarantee loan approval.

FAQ

  • What is the maximum loan amount for payday loans in Gurnee, Illinois? The maximum loan amount for payday loans in Gurnee, Illinois is $1,000.
  • Are payday loans legal in Illinois? Yes, payday loans are legal in Illinois and are regulated by the Consumer Installment Loan Act.
  • What is the maximum interest and fee rate for payday loans in Gurnee, Illinois? The maximum interest and fee rate for payday loans in Gurnee, Illinois is 15% per month on the outstanding principal balance.
  • How many payday loans can I have at one time in Gurnee, Illinois? In Gurnee, Illinois you can have a maximum of two payday loans at one time.
  • What is the maximum length for a payday loans in Gurnee, Illinois? The maximum length for a payday loan in Gurnee, Illinois is 45 days.

More F.A.Q.

Are there any restrictions on the fees that payday lenders can charge in Gurnee, Illinois?

Yes, Illinois law restricts the fees that payday lenders can charge. For example, lenders cannot charge more than $15.50 per $100 borrowed for a payday loan of up to $500, and cannot charge more than $10.50 per $100 borrowed for a payday loan of more than $500.

Can a payday lender require me to provide collateral for a loan in Gurnee, Illinois?

No, payday lenders in Gurnee, Illinois cannot require you to provide collateral for a loan.

How Many Cash Advance Companies are in Gurnee, IL?

With the help of our service, you will be able to find 4 cash advance companies in Gurnee, IL

What Cash Advance Companies in Gurnee, IL are the most popular?

You should check BCU, Nicholas Financial Inc.Gurnee, and Payday Loans Waukegan. Also, you can start your application online on our website.

Look for Short-Term Loans in Other Cities:

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Customer Notice: Cash advance loans should be used for short-term personal requirements primarily, not as long-term budgetary remedies. Clients together with credit score issues ought to look for credit advice. Subject to state regulations, qualification, credit check, underwriting and approval. Rates, terms and conditions apply

Client Guidance: Payday loans are generally designed as a temporary financial bridge that allows individuals to borrow a modest amount of money until their next paycheck arrives. This type of loan is often used as an immediate financial remedy for unforeseen expenses, especially for those lacking a financial cushion or significant savings. If you find yourself struggling to manage your finances and considering a payday loan, it's crucial to consult with a qualified financial advisor. It's also important to familiarize yourself with the specific payday loan laws in your jurisdiction.

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