Limits on Title Loans in Illinois

Most title lenders in Illinois give loans of atleast 61 days or greater. The new rule would will not except these lenders from refinance limitations and instigate a cool off period. I have no idea how they’re going to enforce this. How does a lender know if someone else gave a person a loan less than 15 days ago?

Regardless, these rules have to get through committee. This Blog does a very good job of explaining the process.

The Chicago Tribune also published the story, “Limits on title loans called a ‘Good Start’

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