Payday loans in Illinois

Legality of payday advance in Illinois

Payday advance in Illinois State is fully legit. To see the details about legit payday loans in Illinois, refer to the credit document 815 ILCS 122 et seq. As we have stated earlier, the maximum sum of short-term loan is lesser of $1000 and cannot exceed 25% gross monthly income. Payday installment loan should be lesser of 22.5% gross monthly income or $1000. You should pay back borrowed funds in 13-45 days and 112-180 for installment payday loans. The creditor will charge you a commission of $15.50 per $100. There is an extra $1 verification fee.

How many payday loans can you have in Illinois?

Payday loan in Illinois state law allows taking just two payday loans at a time. This means after receiving the credit, you can take another loan simultaneously and return the money at a given location within the indicated time frame. This is since the credits are for a short period and relatively minor amounts.

Direct payday loan lenders in Illinois

How can you apply for online payday loans in Illinois?

The online application procedure is simple and less time-consuming than in offline locations. Individuals must meet the listed requirements to get an online payday advance in Illinois:

should be 18 years old and/or older;

be a US citizen;

provide a permanent address, phone number, and email address;

have the required level of earnings and a proof of sufficient income;

obtain a bank account to which the borrower receives money;

have a valid ID document.