uptomyears
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Sub: #1 No rollovers please explain
Replied on 09-01-2009, 09:17 AM
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I am trying to understand what no rollovers mean, in Illinois it is illegal to Rollover your loan, is that the same as extending it? TIA




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Sub: #2
Replied on 09-01-2009, 10:05 AM
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yes they are the same thing.basically you have to payoff after two weeks.then you can re-loan,but anything besides that is considered a rollover.

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uptomyears
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Sub: #3
Replied on 09-01-2009, 10:43 AM
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So when a payday lender "extends" my loan they are actually rolling it over? That is totally illegal in Illinois, a lot of places make you contact them to pay off the amount or they automatically roll it over. How do these companies get away with this BS?




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