Payday Loans in Woodson, Illinois

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

Company nameAddressZip codePhone number
Credit Union 1 232 N, Fourth St, Libertyville, IL 60048 +1 (800) 252 - 6950
Check Into Cash 9 Meadowview Center, Kankakee, IL 60901 +1 (815) 928 - 8200
Financial Center 308 S 9th St, Fairbury, IL 61739 +1 (815) 692 - 6615
Jeff Wilson 240 E Chestnut St, Olney, IL 62450 +1 (618) 395 - 8676
World Finance Corporation 1214 Currency Ct, Rochelle, IL 61068 +1 (815) 562 - 2600
Jackson Hewitt Tax Service 730 Tenney St, Kewanee, IL 61443 +1 (309) 761 - 4034
Walmart Money Center 4105 N Vermilion St, Danville, IL 61834
Dan Rodriguez Sr - Ameriprise Financial Services, LLC 425 N Gilbert St Ste D, Danville, IL 61832 +1 (217) 442 - 8067
Title Cash 120 N 4th St suite a, Chillicothe, IL 61523 +1 (309) 274 - 5850
First National Bank-Georgetown 111 S Main St, Georgetown, IL 61846 +1 (217) 662 - 2166

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Woodson, IL, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Elgin, IL, Payday Loans in Elk Grove Village, IL, Payday Loans in Elmhurst, IL, Payday Loan Without a Credit Check in Evanston, IL, Online Loans in Galesburg, IL, Payday Loans in Glendale Heights, IL, Short-term Loans in Glenview, IL and Payday Loans in Gurnee, 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 Woodson, IL.

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

62695

Are Payday Loans Legal In Woodson, 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

Woodson, IL payday loan calculator

Understanding Payday Loans in Woodson, Illinois

When facing an unplanned expense, such as a medical bill or car repair, it can be difficult to know where to turn for help. Payday loans are one option that individuals in Woodson, Illinois may consider.

Payday loans are short-term loans that are typically due on the borrower’s next payday. These loans usually have high interest rates and fees, making them more expensive than traditional loans. However, they can be a helpful option for individuals who are unable to qualify for other types of credit.

How Payday Loans Work

When applying for a payday loan in Woodson, Illinois, the borrower typically provides a post-dated check or authorizes an electronic withdrawal for the loan amount plus fees. The lender then provides the borrower with cash or deposits the funds into their bank account.

On the due date, the borrower must repay the loan amount plus fees, or the lender can cash the check or withdraw the funds electronically. If the borrower is unable to repay the loan, they may be subject to additional fees and interest charges, as well as damage to their credit score.

Requirements for Payday Loans in Woodson, Illinois

To apply for a payday loan in Woodson, Illinois, individuals must meet certain requirements, including:

  • Being at least 18 years old
  • Having a valid government-issued ID
  • Providing proof of income, such as a pay stub or bank statement
  • Having an active checking account

It is important to note that payday loans in Woodson, Illinois are legal and regulated by state law. Lenders must follow specific guidelines, such as capping the loan amount and fees and providing a written agreement outlining the terms of the loan.

Benefits and Drawbacks of Payday Loans

Payday loans can be a helpful option for individuals who are in need of cash quickly. These loans do not require a credit check, making them accessible to those with bad credit or no credit history. Additionally, the application process is typically quick and easy, with funds often available on the same day.

However, payday loans can also be very expensive. The high interest rates and fees can quickly add up, making it difficult to repay the loan on time. This can lead to a cycle of debt, where the borrower is unable to repay the loan and must take out another loan to cover the initial loan and fees.

Interesting Facts and Statistics

  • Average loan amount in Illinois is $365
  • 73% of payday loans go to borrowers who take out 7 or more loans per year
  • The average APR for payday loans in Illinois is 404%
  • Over 300,000 payday loans are taken out in Illinois each month

Apply Now

If you are considering a payday loan in Woodson, Illinois, TheGuaranteedLoans can help. Our website connects borrowers with potential lenders, making it easy to find a loan that meets their needs. We understand that unexpected expenses can be stressful, and we are committed to providing our users with fast and easy access to the funds they need.

Remember, payday loans are an expensive form of credit and should only be used as a last resort. If you are struggling with debt, we encourage you to seek help from a financial advisor or credit counseling service.

Please note: TheGuaranteedLoans is not a direct lender and does not make lending decisions. We are a loan connector service that facilitates connections between borrowers and potential lenders. By filling out an application on our website, you are consenting to be contacted by lenders in our network who may be able to provide a payday loan that meets your needs.

F.A.Q.

Can I get a payday loan if I am on unemployment in Woodson, Illinois?

Yes, you can still qualify for a payday loan in Woodson, Illinois if you are on unemployment. Lenders may require proof of income, such as unemployment benefits, to determine loan eligibility.

Can I get a payday loan if I am on Social Security in Woodson, Illinois?

Yes, you can still qualify for a payday loan in Woodson, Illinois if you are receiving Social Security benefits. Lenders may require proof of income, such as a Social Security award letter, to determine loan eligibility.