Looking for an Unsecured Personal Loan in Illinois?
Getting ahead financially can be difficult sometimes, but what about just making sure the bills are paid at the end of the month? There are many situations that cause someone to struggle through life and end up needing a boost. What if there was a program that could not only get you caught up on your monthly bills but also give you enough money to get ahead of those financial responsibilities? Well, there is! By going through our 5-minute Loan Discovery Process, you can have options to get the money you need — often within 24 hours!
Now, what if this service didn’t affect the amount of money you already have in your wallet? After all, what good is using a service to seek money if you have to pay money to use it? No need to worry. With Loans Now, there are no fees for using our services; you can explore more on our How It Works page, but know that it is completely free to have Loans Now help you through this pressing time. Keep what you have and put it towards what you need. Simply complete our simple, 60-second questionnaire and be on your way to obtaining an unsecured personal loan to make ends meet.
Unsecured Loans for People with Bad or No Credit
Have you been struggling to find the help you need to get the bills paid? If you have bad credit and are going through multiple lenders trying to find assistance, then yes: you are going to struggle. The same thing, unfortunately, is true for those who have no credit. With little to base a decision on, or too many negative reports keeping your credit score down, your struggle will only get harder to face. Not with Loans Now! Let us find you a solution to your current credit situation, one that will benefit you not only now but also in the future. Some of the benefits of an unsecured personal loan can be long-term and could include:
- Covering the monthly bills
- Paying for any unexpected expenses
- Creating an emergency fund
- Consolidating your existing debt (including credit card balances)
- Improving your credit score
- Starting a side business (for a little extra income)
People with bad credit can benefit from our services. Loans Now works with nearly every situation and most credit scores, even those as low as 450, to provide you with the options you need to get through the month. Often, it is a person’s credit score that hinders them from receiving approval for a personal loan. We do not conduct a credit check up-front, so our services do not initially affect your credit score. By asking you to check your credit score before getting started, you not only provide us with information necessary to the processing of your request but you are also protecting your credit score from further damage (it is usually free to request your own credit score).
Illinois Can’t Pay
Illinois is itself struggling. The economy is on the lower end of the spectrum amongst the 50 states, with its fiscal stability the worst in the nation. It is in such disarray financially that it is the only state in the US with a Standard and Poor’s rating of BBB. There are many reasons for Illinois’ financial troubles. High property taxes are causing individuals and families to move to other states with a lower cost of living. High state income taxes are driving companies out of Illinois to reduce costs and improve profits. And there is a large disparity between top earners and the middle and lower classes.
Things have been so bad in recent years that employees of the Illinois Department of Corrections were not paid overtime pay because it was not in the budget for them to do so. Even now, as payments of backpay begin to trickle out, current and former employees are not seeing the full amounts they are owed. It is for times like these that an unsecured personal loan can help. While the courts decide what outcome should occur from cases such as these, and the government or entity involved resists or is unable to pay the mandated amount, your bills are adding up. Get the money you need now so you do not end up in dire straits waiting for the system to work itself out.
Illinois Laws and Regulations for Bad Credit Personal Loans
The maximum interest rate lenders can apply to personal loans in the State of Illinois is flexible. This can change from time to time, so the Illinois Compiled Statutes § 815 ILCS 205/4 has been written in such a way to account for future changes. The interest rate cap for each contract is what is determined by law at the time the loan is issued. This protects lenders from having to make changes to loan agreements as well as prevents borrowers from having to pay higher interest rates should the legal limit be increased. This stipulation prevents a flexible interest rate from being applied to a loan. This creates stability for both the issuer of the loan and the consumer taking out the loan.
Current Illinois law sets the maximum limit on interest rates in the state at 9% per year. This is lower than many states and has been set intentionally to assist the impoverished residents of Illinois with their financial needs. Any person or company found assessing a finance charge higher than the legally-permitted percentage is subject to refunding double the amount of all interest paid on the loan, any additional fees, and all legal costs, court and attorneys.
Loans Now: Core Policies & Procedures
- Never collect or share sensitive customer information: SSN, DOB, Address.
- Never collect up-front payment to process a customer’s loan application / or fund a loan. Loans Now will NEVER ask you to send us money in any form.
- Introduce customers to our Loan Discovery Process. A one-on-one loan service strategy that fits every customer’s unique needs with the right lender for them
Illinois Personal Loan for Bad Credit Lending Regulator
Illinois has placed the monitoring of consumer financial services under the jurisdiction of the Department of Financial and Professional Regulation. The Division of Financial Institutions regulates non-depository lenders to ensure they are following responsible business practices.
- Loan Discovery Process
- Credit Scores Reviewed to 450
- 2, 3, 5 & 7 Year Terms
- Loan Amounts $500 - 70K