Payday Loans in Latham, Illinois

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

Company nameAddressZip codePhone number
First National Bank and Trust 5360 Bridge St, Roscoe, IL 61073 +1 (815) 623 - 3300
Cash Store 1479 N State St, Belvidere, IL 61008 +1 (815) 547 - 6277
Raymond James Financial Services 909 W Kirby Ave, Champaign, IL 61821 +1 (217) 365 - 4877
Illinois State Bank 1301 Pyott Rd 100, Lake in the Hills, IL 60156 +1 (847) 658 - 4848
State Street Bank 801 State St, Quincy, IL 62301 +1 (217) 223 - 6480
AmeriCash Loans 3144 W 95th St, Evergreen Park, IL 60805 +1 (708) 930 - 5101
Dieterich Bank Teutopolis 1510 E Fayette Ave, Effingham, IL 62401 +1 (217) 857 - 1313
Vermilion Valley Bank 111 W Hack St, Cullom, IL 60929 +1 (815) 689 - 2146
TitleMax Title Loans 6126 W Dempster St, Morton Grove, IL 60053 +1 (847) 583 - 8220
PLS Loan Store 95 E Roosevelt Rd, Lombard, IL 60148 +1 (630) 916 - 0202

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Latham, IL, you can try to find different companies in big cities near by. Check out the following pages here: No Credit Check Loans in Plainfield, IL, Bad Credit Loans in Quincy, IL, Short-term Loans in Rock Island, IL, Short-term Loans in Rockford, IL, Payday Loans in Romeoville, IL, Guaranteed Loans in Saint Charles, IL, Payday Loan Without a Credit Check in Schaumburg, IL and Payday Loans in Skokie, 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 Latham, IL.

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

62543

Are Payday Loans Legal In Latham, 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

Latham, IL payday loan calculator

Payday Loans in Latham, Illinois: A Comprehensive Guide

If you’re in need of quick cash to cover unexpected expenses, a payday loan can be a viable option. Payday loans are designed to provide immediate financial relief for people who have no other options.

Understanding Payday Loans

A payday loan is a short-term loan that is typically due on your next payday. These loans are smaller in amount and have a higher interest rate than traditional bank loans. They are designed to help people who are in a financial bind, who may have bad credit or no credit, and who cannot access other forms of credit.

While payday loans are legal in Illinois, it is important to understand the terms and conditions of the loan before applying. Illinois state law sets limits on fees, interest rates, and the maximum loan amount that can be borrowed.

How Do Payday Loans Work?

In Latham, Illinois, payday loans are available from licensed lenders online and in-store. To apply for a loan, you must provide proof of income, proof of residence, and a valid ID. Once your application is approved, you will receive the loan amount in cash or via direct deposit into your bank account.

The loan amount and fees will be due on your next payday. If you cannot pay the full amount, you can request an extension, which typically incurs additional fees and interest.

Benefits and Risks of Payday Loans

Benefits:

  • Quick and easy application process
  • No credit check required
  • Funds available immediately

Risks:

  • High interest rates can lead to a cycle of debt
  • Fees and penalties for late payments can add up quickly
  • Failure to repay the loan can result in legal action

Interesting Facts and Statistics About Payday Loans in Latham, Illinois

  • Illinois law limits payday loans to a maximum of $1,000 or 25% of the borrower’s monthly income, whichever is less.
  • The average payday loan in Illinois is $354, and the average APR is 404%.
  • Approximately one in four payday loans in Illinois are rolled over into new loans, leading to additional fees and interest.

Apply Now

If you’re considering a payday loan in Latham, Illinois, TheGuaranteedLoans can help. As a trusted connector service, we work with a network of licensed lenders to help you find the best loan option for your needs.

Our online application process is quick and easy. Simply provide your contact information, employment status, and bank account details. We will then connect you with potential lenders who can provide you with information on loan terms and rates.

Remember, payday loans are an expensive form of credit. They should be used only as a last resort and should be repaid as soon as possible.

TheGuaranteedLoans is not a direct lender and does not provide loans. We are a connector service that helps individuals connect with lenders. Our goal is to make the loan process as smooth as possible for our customers.

Conclusion

Payday loans can be a useful tool for those who need to borrow money quickly and cannot access traditional loans. However, it is important to understand the risks and costs associated with these loans. If you’re considering a payday loan in Latham, Illinois, be sure to do your research and work with a reputable lender.

F.A.Q.

Can I renew or extend a payday loan in Latham, Illinois?

Yes, payday loans in Latham, Illinois can be renewed or extended, but only under certain circumstances. Borrowers must pay off a portion of the loan and any fees before the loan can be extended or renewed.

What happens if I can't repay a payday loan in Latham, Illinois?

If a borrower is unable to repay a payday loan in Latham, Illinois, the lender may attempt to collect the debt through traditional methods, such as phone calls and letters. The lender may also report the default to credit bureaus, which could affect the borrower's credit score.