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Internet Payday Loans

Question: What should I do if I got served with court papers for breach of contract and fraud for multiple Internet payday loans? I had several online payday loans prior to July 2013. One became 2 and 2 became 10. I finally sought help from the attorney general after I realized they were illegal. Now I got served with court papers for breach of contract and fraud. Is this illegal?

Answer: Attempts to collect a loan made to an Illinois resident for nonbusiness purposes at more than 9% interest by a party who is not a licensed lender or a bank (most internet lenders are not licensed) may violate the Fair Debt Collection Practices Act and other laws. In addition, you should have a defense to the claim against you. The loan is not enforceable. Do not default. Consult an attorney immediately.