By the Regular, authorities payday loan are called «deferred presentment services exchange.» The brand new glance at of your own buyer try paid off after a particular several months (deferred). The fresh cash advance inside Regular regarding Illinois are regulated of the Deferred Presentment Services Exchange Work. They find brand new restricted number for Regular Cash advance that you normally receive meanwhile (it is only two fund), solution costs which you can pay so you can a primary lender, and you may limitations a repayment months contained in this 31 months from the day off getting money.
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