Money & Debt
Worried about doing this on your own? You may be able to get free legal help.
A title loan is similar to a payday loan. But instead of your paycheck, the loan is based on your car title. This means your car title is the collateral for the loan. Your car title is the legal document that establishes that you own your car. If you fall behind on a title loan, your car may be repossessed and sold by the lender.
Learn more about Car Repossession.
If you have borrowed money from a title loan store, talk to a consumer advocate attorney to see if they can get you off the hook. Sometimes short-term lenders do not follow all the laws.
Complaints against a payday loan outfit or a title loan lender can be directed to Illinois Department of Financial and Professional Regulation, the Office of the Illinois Attorney General, and the Consumer Financial Protection Bureau.
