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Payday Loan Reform Act Goes into Effect December 6
Written by Tom Feltner
November 05, 2005
The Illinois Payday Loan Reform Act will go into effect December 2nd, 2005. The new law sets the maximum allowable fee at $15.50 per $100 dollars borrowed and offers a no-cost repayment plan for borrowers trapped in a cycle of debt. For information on the availability of the repayment plan or any other aspect of the new law, e-mail
Woodstock Institute
or call us (312) 427-8070.
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