Loans
| All Credit Lenders has been serving customer's needs since 1999. All Credit Lenders has convenient store locations throughout Illinois. In addition, All Credit Lenders-Wisconsin has locations through out the state of Wisconsin. All Credit Lenders was formed to fill your emergency loan needs with combined expediency and convenience. Here at All Credit Lenders, we treat you with courtesy and respect during your occasional cash needs. Cash Advance A cash advance is a short term personal loan given to a customer that is not typically secured by the customer’s residence or other real estate. Cash Advance is a general term than can refer to a payday loan, an installment loan, line of credit or revolving credit agreement. Short terms loans are not designed to meet your long term financial needs. Line Of Credit Unlike the installment and payday loans, a Line of Credit or Revolving Credit Plan does not have a set maturity date and is an opened credit product. You pay interest on a per diem basis based on the amount of time from when you receive a cash advance until you repay the principal. There may be additional fees associated with a Line of Credit involving cash advance fees, billing cycle fees or late fees. You will receive regular billing statements typically every month or every other week reflecting the amounts you owe. If you have a Line of Credit with a Credit Limit, you can take cash advances up to your credit limit, but not exceeding your credit limit. Payday Loans This is a short term loan typically due in less than 30 days. The borrower receives money and agrees to repay it the amount borrowed plus interest and/or fees on the due date which may be your next payday. If the borrower does not repay the loan on the due date, then the lender may offer refinancing extending the term of the loan for another 14 or 30 days depending on the lender and the state. The borrower may incur additional finance charges. Some Lender may request that the borrower provide a personal check as security for the repayment of the loan and in the event that the borrower does not repay the loan on the due date, the Lender will cash the check to repay the loan. Installment Loans Installment loans are loans where you receive the loan amount and the repayment of your loan is made over a period of installment payment. The terms or length of the repayments if an installment loan can vary by state or by lender. The typically term for an installment loan can vary from 120 days to 2 years. The installment payments are typically due bi-weekly or monthly. The payments may be interest only or may include both principal and interest. If the loan payments are interest only than you will have to make a large balloon payment at the end of the loan as the final installment of the loan. If the payments included both principal and interest and is fully amortized, then if you make your payment timely, you will not have a balance at the end of your loan. It is important to know which type of loan you receive. One benefit to any installment loans is that it gives the borrower addition time to repay the loan and has a long term than a traditional payday loan. Typical Payment Methods Auto ACH Loan: This payment method takes your payment out of your checking account every payment due date. You must have direct deposit to qualify. Debit Card Loan:This payment method takes your payment right off your debit card every payment due date. You must have direct deposit to your debit card to qualify. Walk in Loan: This payment method is offered at store locations only. Payments are made in person at the store. See store for details Locations. |