Legal Question in Credit and Debt Law in Illinois

I went to a Title loan place and borrowed $1500 I have paid them back $2500 none of that money has went to the principal loan they say that is all interest the interest percent is 360% so I still owe them $1500 i borrowed. I can't afford to keep paying them How do I clear this up and get my car title back?


Asked on 4/28/10, 7:59 am

1 Answer from Attorneys
Jonathan Shimberg Shimberg and Crohn, P.C.

When you get juice loan, that is what happens. It may be that they did not do proper paperwork on your loan, but otherwise, that what you agreed to when you borrowed the money.

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Answered on 5/03/10, 12:44 pm


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