Content with tag payday loans .

payday loans

Groups urging governor to sign bill on payday loan protections

In Illinois, the average annual percentage rate on a payday loan is 297%, and the average annual percentage rate on a car title loan is 179%. Half of the people who apply for payday loans make less than $30,000 and end up paying thousands of dollars in fees for loans of around $500 to $1,000, according to advocates for lending reform.

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