IL payday loan laws

Payday lending is legal in the State of Illinois. You need to contact the Illinois Division of Financial Institutions in order to find out whether or not your payday lenders are licensed to operate in your state. If you find that they are not licensed to operate in your state, then you can check out the given page in order to know how you should deal with them: http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html . However, if they are legal in your state, then you may check out the option of payday loan consolidation in order to deal with them.

If you are sure that the lenders are illegal, then you will only have to pay the principal amount. You are not legally obligated to pay the interests or fees. But if they are legal, then you will have to pay the principal amount including the interests and fees. If you can't afford to pay the loan, then you may get help of payday loan debt settlement.

being as i'm in IL as well i can help but i need the following.

1)names of each lender
2)amount borrowed from each
3)amount debited by/paid to each thus far


please provide that info,and we can help you here.

Thanks guys - I will get the names and post all info below. I also followed the link on what to do about them - GREAT!!!

Brought up a question, though. 2 of these are with Indian nations and they try to state that it is "under the laws of [insert tribe] nation" and not under the laws of whatever State they are physically in. Regardless of whether they are a sovereign Indian Nation, would not State and Federal laws and licensing apply to them?

Thanks - I wasn't sure what to make of that particular situation.

- Mark

I called the State office after I read your post, and they were extremely helpful (to a point).

I was told that while they do license internet PDL's, there are actually very, very few licensed. She said that most of the PDL's licensed in Illinois have a physical storefront(s) throughout the State.

Other than being willing to say if someone is licensed or not, that was the about all they could help with.

first the "tribal loans are illegal as all get.they can spew the line"your laws don't apply to us"but there laws don't apply to us.meaning they can't do spit.as long as you gave the wage assignment revocation letter to your employer they are powerless.now can you give us more info on your other loans.we can help.

Here are some payday lenders I have. The top 5 are mine. My neighbor and good friend, when he found out I was doing this, gave me the bottom 3. I have encouraged him to join this community as well.

1) Lakota Cash (Pay Day Financial, LLC)

2) Integrity Payday Loans

3) One Click Cash

4) Sureadvance.com

5) greatskycash.com

6) nationwidecash.com

7) Spot On Loans (1-800-707-0102 - trying to find other contact info on them)

8) Plain Green Loans (Plain Green, LLC)

Thanks for the help!

I posted this once already - but have not seen it show up yet, so here it goes again.

These are the PDL's that myself and a friend a wrestling with:

1 - Lakota Cash (Pay Day Financial, LLC)
2 - Integrity Payday Loans
3 - One Click Cash
4 - sureadvance.com
5 - Plain Green Loans
6 - Spot On Loans
7 - Nationwidecash.com
8 - greatskycash.com

I can't speak to my friends balances (yet), but the top 5 are mine and are all $300 except for Lakota Cash which is now $450.

Thanks again for any help - I am eternally grateful.

okay now i need more info still like.

1)how much was borrowed from each
2)how much was debited by each thus far

you see none have a license in IL meaning all are ilegal.also meaning that they not only owe the principle and nothing more,but anything debited in "fees"gets deducted from that.example:

they borrow 300.00 from lakota cash.they debit 90.00 three times.they only owe lakota 30.00.so please try to come up with that info.you will be suprised by how little if anything they really owe.not what the illega says they do.

Here are the first couple (more coming from friend a little later). Read 'em and weep (like I do):

Spot On Loans - Borrowed: $500; Payments so far: $300

Web Sure Advance: Borrowed $500; Payments so far: $800

One Click Cash: Borrowed $$500; Payments: $$300

Integrity: Borrowed: $600; Payments: $750

Lakota Cash: Borrowed: $600; Payments so far: $1155

three you have overpaid(lakota way overpaid)and the other two you only owe 200.00 each.please tell me you closed/secured your account.if not do so right away,and go to the sticky titled DEALING WITH ILLEGAL LENDERS.follow it and don't skip steps.that is important.do that and keep us posted.

Here's the last:
Great Sky: Borrowed $300; Paid so far: $320
Nationwide: Borrowed: $500; Paid: $840
Plain Green: Borrowed $800 (he said this is a "payday installment loan" - whatever that is); Paid so far: $236.15
Thanks again!!!!! Can't wait to hear from you.

Paul,

was the first part of your reply missing? It just starts with "three"

of these last three you only owe plain green,and if it was procured as plain green you only owe the principle on that as they still must be registered in IL as such.he other two you again overpaid.once again please say you secured/closed your account as all of these places will debit indefinitely if you allow it.the only way to stop it is to close that account,and cut off their access to your money.

Making a personal visit to my bank today - but have already been in contact with them by phone, so they are aware of my needs and are willing to help me.

The sticky you referred me to mentioned state websites/offices and filing complaints. Can you give me any direction for IL?

- Mark

our AG requires complaints to be mailed.there should be a printable form on the website.as for the bank speak to the manager only.just an FYI,but ms.madigan(the IL AG)requires complaints to be mailed.if the forms are no longer available on the website you can email a request and they send it in excel via email.

I will call Ms Madigan's office - after all, I voted for her!!

I will also request a copy of the form in case there is any way to post it on this forum for someone else's use.

I work as a therapist and social worker in central and southern IL (hence the low pay and poor economy that got me in this mess in the first place), and I know that I can help others with this once i get good at it.

That said - how can I tell the difference between a PDL and a CSO? Would a CSO show on the State's license registry?

however i can say with certainty that none of yours are licensed,or registered with our state,but yes CSO'S are registered.

http://www.idfpr.com/

Contains a list of licensees for different types of financial business - including Payday loans and Installment Loan lenders.

Also has a handy way to file a complaint ONLINE!