Payday Loans in Lakewood, Illinois

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

Company nameAddressZip codePhone number
Top Payday Loans Lake Forest 1111 W Westleigh Rd, Lake Forest, IL 60045
CLA CliftonLarsonAllen 123 S Pleasant St, Princeton, IL 61356 +1 (815) 875 - 4541
Commerce Bank 995 Columbia Center, Columbia, IL 62236 +1 (314) 746 - 3002
Citizens State Bank Of Milford 36 E Jones St, Milford, IL 60953 +1 (815) 889 - 4131
Illinois Title Loans, Inc. 410 N Dirksen Pkwy, Springfield, IL 62702 +1 (217) 528 - 2180
PNC Bank 1501 E College Ave, Normal, IL 61761 +1 (309) 823 - 3185
TCF Bank 17117 S Harlem Ave, Tinley Park, IL 60477 +1 (800) 823 - 2265
First Mid Bank & Trust Charleston 6th Street 701 6th St, Charleston, IL 61920 +1 (217) 345 - 8325
SENB Bank 5206 Elevator Rd, Roscoe, IL 61073 +1 (815) 681 - 7362
Walmart Money Center 2591 12th St, Carlyle, IL 62231 +1 (618) 594 - 2465

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Lakewood, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Streamwood, IL, Payday Loans in Tinley Park, IL, No Credit Check Loans in Urbana, IL, Emergency Loan in Waukegan, IL, Payday Loans in Wheaton, IL, Quick Loan in Wheeling, IL, Emergency Loan in Woodridge, IL and Short-term Loans in Addison, 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 Lakewood, IL.

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

62438

Are Payday Loans Legal In Lakewood, 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

Lakewood, IL payday loan calculator

Advise to read before applying

About Payday Loans in Lakewood, Illinois

Payday loans are a type of short-term loan that is usually due on the borrower’s next payday. They seem like an easy way to get cash quickly, but they often come with high-interest rates and fees. In Lakewood, Illinois, payday loans are legal and accessible to residents who need them.

How Do Payday Loans Work?

Payday loans are usually small, unsecured loans that can be used for any purpose. When you take out a payday loan, you typically write a post-dated check or provide your bank account information to the lender. The lender will hold onto the check or account information until your next payday, then cash it or withdraw the funds from your account to repay the loan.

The Cost of Payday Loans in Lakewood, Illinois

In Lakewood, Illinois, payday loan lenders can charge up to $15.50 per $100 borrowed for a 14-day loan. This means that if you borrow $300, you will have to repay $346.50 within 14 days. If you cannot repay the loan in full on your next payday, you may be able to extend the loan by paying additional fees.

Benefits of Payday Loans in Lakewood, Illinois

Payday loans can be a valuable resource for people who need cash quickly and cannot get a traditional bank loan. They have a few key benefits, including:

  • Quick and easy approval process
  • No collateral required
  • No credit check required
  • Funds can be received within 24 hours

Risks of Payday Loans in Lakewood, Illinois

While payday loans may seem like a quick and convenient solution, they come with several risks that borrowers should be aware of. These risks include:

  • High-interest rates and fees
  • Frequent rollovers or extensions can lead to a cycle of debt
  • Automatic repayments can lead to overdraft fees if you do not have sufficient funds in your account
  • Some lenders engage in predatory lending practices

Apply Now

If you need a payday loan in Lakewood, Illinois, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we work with a network of reputable lenders who offer payday loans to borrowers like you. Simply fill out our online application form to get started.

Interesting Facts about Payday Loans in Lakewood, Illinois

  • Illinois residents borrowed over $3.5 billion in payday loans in 2019 alone
  • Payday lenders in Illinois can legally charge an Annual Percentage Rate (APR) of up to 400%
  • The average borrower takes out 10 payday loans per year in Illinois

The Bottom Line

Payday loans can be a valuable resource for people who need cash quickly and cannot get a traditional bank loan. However, they come with high-interest rates and fees, and they can lead to a cycle of debt if not used responsibly. If you do decide to take out a payday loan in Lakewood, Illinois, be sure to read the terms and conditions carefully and only borrow what you can afford to repay. Consider all of your options before taking out a payday loan, including borrowing from friends and family, negotiating with creditors, or seeking assistance from a non-profit credit counseling agency. And remember, TheGuaranteedLoans is here to help you connect with potential lenders who can offer you a payday loan that meets your needs.

F.A.Q.

Can I get a payday loan if I have a bankruptcy in Lakewood, Illinois?

Yes, you can still qualify for a payday loan in Lakewood, Illinois even if you have filed for bankruptcy. However, the lender may consider your bankruptcy when determining loan eligibility and terms.

Can I get a payday loan if I have bad credit in Lakewood, Illinois?

Yes, payday loans are designed for individuals with poor or no credit history. However, lenders may still require proof of income and other financial information to determine loan eligibility.

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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