How to apply for Payday Loans in Chicago

by | Feb 12, 2013 | loan

Life is unpredictable and there might come a time when you may be in need of payday Loans in Chicago. The benefits of a good company that can lend you money is a fast, secure and confidential loan application. The approval of the loan can be instant and the funds can be deposited into your account within 24 hours. The great thing about payday loans in Chicago is the fact that you will not need to go through credit checks in order to be approved for the loan. You can apply for the loan today and see the cash tomorrow.

In order to be eligible for most payday loans in Chicago, you must be employed for at least three months with the same employer. In addition, you should not be having more that 2 payday or installment payday loans that are outstanding. A person also needs to have an active and open checking account. A person must also be a US citizen and over the age of 18. A person who earns at least 375 dollars per week will also be eligible for payday loans in Chicago. There are other restrictions that can apply and you can learn more when you consult with a lender.

Rates & Terms

The rates and terms of the payday loans in Chicago depend upon the state of Chicago and state laws as well as regulations which need to be followed. The contact information must be given when you are applying for the loan and you shall be contacted via phone or email if your loan has been approved. In order for the loan to be approved, some documents may need to be faxed and they include check stubs. Once the payday loans in Chicago have been approved, the money will be sent within a business day.

Payday loans in Chicago have different repayment options and in Illinois, you have to repay the remainder of these loans in equal installments, but your first payment can be different. The aim of the payday loans in Chicago is not to meet long term financial needs, rather, it is to be used for short term cash needs. The reason is because the cost of these loans are usually higher when compared to regular loans. The Department of Financial and Professional Regulation is the body that regulates these loans and if you are having credit difficulty, it is advisable that you go for credit counseling.

In addition to payday loans in Chicago, you can also be provided with financial advice so that you can be able to handle your finances in a wise manner. Everyday tips on budgeting can be provided and you can be assisted in understanding your credit score. Smarter financial choices can be made in the future if you educate yourself today. Smart and simple measures can be taken in order to keep finances secure from identity thieves. Your personal information needs to be safeguarded and in this way, you can avoid losing money. These types of loans will give you a great relief financially and help meet short term expenses.


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