PDL vs installment loan laws
Date: Sat, 07/17/2010 - 09:31
I live in Illinois. Thought I took out a PDL, but it was a high interest installment loan at a payday loan place.
Now, I can barely pay the interest each month, let alone anything extra towards the principle, because my child-support just went from $725 per month to $215 per month due to my ex's unemployment.
If this were a PDL I could request an interest free repayment plan after 35 days. I can't find any clear indication on if I have any similar rights w/high interest installment loan in IL.
Does anybody know where I could find information?
Now, I can barely pay the interest each month, let alone anything extra towards the principle, because my child-support just went from $725 per month to $215 per month due to my ex's unemployment.
If this were a PDL I could request an interest free repayment plan after 35 days. I can't find any clear indication on if I have any similar rights w/high interest installment loan in IL.
Does anybody know where I could find information?
Hello Guest, I have covered this same question in some of my
Hello Guest,
I have covered this same question in some of my old posts. Please read below link to get more information on installment loans. Hope this helps!
debtconsolidationcare.com/forums/showthread.php?t=35304
