Mississippi Payday Loans
People that are in need of payday loan services in Mississippi are allowed to obtain those funds for up to $400. Cash advance companies have a long list of requirements to meet in order to comply with Mississippi laws, however. All cash advance companies, like ones in Jackson, must have a permanent U.S. address, have at least 100 square feet of operating space and not be located near a pawnshop, title pledge company or small loan office. As far as consumers are concerned, Mississippi payday lenders must sign the loan agreement on the date of the transaction and refer to all charges as service fees, not interest. Cash advance companies can even give customers coupons and incentives to return - as long as those initiatives benefit the client financially. No criminal charges are allowed against customers that default or fall behind on their cash advance payments.
A borrower can ask for up to $400 in payday loans.
Length of Loan
Loan terms are set at 30 days.
No extensions or rollovers of payday loans are permitted.
The most a payday lender can charge is 18 percent of a check's amount. For a two week loan, the service fee is $22 on every $100 borrowed.
For a two-week loan of $100, the APR is 572 percent.
Jackson, MS 39202
Jackson, MS 39212
Ocean Springs, MS 39564
Ridgeland, MS 39157
Jackson, MS 39213
Vicksburg, MS 39180
Grenada, MS 38901
Holly Springs, MS 38635
Booneville, MS 38829
Corinth, MS 38834
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