Payday Loans in Illinois

At a Glance
  • Nickname: The Prairie State
  • Population: 12.74 million
  • Capital: Springfield
  • Website:

Illinois is the sixth most populous state in the country, home to Chicago, the third-largest city, and the capital of many industries. But it also has one of the bleakest financial outlooks of any American state. Illinois’ persistent financial problems are compounded by population loss, a weak jobs outlook, and sluggish growth.

How does this dark reality impact Illinoisans and their families?

  • Illinois has a poverty rate of 13% and an unemployment rate of 5.9% (according to 2017 figures).
  • 7% of Illinois households are unbanked.
  • 6% of the state population lives in “extreme poverty.”
  • 40% of Illinois children live in low-income families.
  • Illinoisans of color are two to three times more likely be impoverished.


Average Credit Card Debt and Median Household Income in Illinois vs. the U.S.
Average Credit Card Debt (Q1 2019)
Median Household Income (2018)

Payday Loans in Illinois

The Illinois Department of Financial & Professional Regulation reports that during March 2011 through December 2017, 670,091 payday loan consumers took out 2,675,522 payday loans (which comes out to about four loans per consumer at a total amount of $1.80 billion). The average loan in the state was $365.30, and most borrowers saw an average pay-back term of about 5 months.

According to the Consumer Financial Protection Bureau (CFPB), eighty percent of payday loans are re-borrowed within the month. The Center for Responsible Lending has calculated that Illinoisans pay over half a billion dollars per year in fees.

Payday Loan Statistics for Borrowers in Illinois vs. the U.S.
Average Loan Amount

Consumer Protection in Illinois

How to Report a Lender in Illinois

Harassment and a lack of truthful information can be misleading and is against Illinois Law. If you need to file a complaint against a payday lender in Illinois, visit the Illinois Division of Financial Institution and Professional Regulation website’s complaint form. Once you fill out the form, submit it online or print and send it to the IDFPR at the address listed below.

The Illinois Division of Financial Institutions and Professional Regulation (IDFPR)

  • Address: 320 West Washington, 3rd Floor, Springfield, IL 62786
  • Phone: (888) 473-4858
  • Website:

Guides to Payday Loans in Illinois Cities

Check out these payday loan guides for the following cities in Illinois…

Chicago | Peoria | Rockford | Springfield