Payday Loans in Pheba, Mississippi

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No payday loan companies in Pheba, MS. Consider companies in other cities:

Company nameAddressZip codePhone number
World Finance 909B Robinson St, Waynesboro, MS 39367 +1 (601) 735 - 6566
Money Matters Title Loans 205 W Main St, Okolona, MS 38860 +1 (662) 447 - 0177
Tallahatchie Title Loans 515 W Main St, Charleston, MS 38921 +1 (662) 647 - 3335
Fidelity National Loans 902 N Main St, Ripley, MS 38663 +1 (662) 512 - 5552
BancorpSouth Bank 205 W Sweet Potato St, Vardaman, MS 38878 +1 (662) 682 - 7501
Tylertown Check Cash 111 N Cherry St, Tylertown, MS 39667 +1 (601) 222 - 0800
Express Check Advance 2117 Hwy. 82 E., Greenville, MS 38703 +1 (662) 378 - 5499
Republic Finance 115B Heritage Dr, Oxford, MS 38655 +1 (662) 234 - 4992
Speedee Cash 1910 US-82 suite d, Greenwood, MS 38930 +1 (662) 455 - 2515
BancorpSouth Branch 1284 Main St, Tishomingo, MS 38873 +1 (662) 438 - 6394

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Pheba, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Greenville, MS, No Credit Check Loans in Gulfport, MS, Online Loans in Hattiesburg, MS, Bad Credit Loans in Jackson, MS, Payday Loan for Meridian, MS, Payday Loans in Olive Branch, MS, Payday Loans in Southaven, MS and Payday Loans in Tupelo, MS. But also, you can apply for a loan online, not coming out of your home. Just fill out a simple application on our website and we will connect you with trusted direct lenders in Pheba, MS.

Are Payday Loans Legal In Pheba, Mississippi?

Loan Rates and Fees, Laws and Regulations in Mississippi.

Mississippi Loan Regulations

Legal StatusLegal
Interest Rate (APR, %)521
Maximum Loan Amount$500
Minimum Loan TermNot Specified
Maximum Loan Term30 days
Number of Rollovers Allowed6, loan must be reduced by at least 5% for every rollover
Finance Charges<$250 = not more than $20 per $100 $250 - $500 = not more than $21.95 per $100

Pheba, MS payday loan calculator

The Ins and Outs of Payday Loans in Pheba, Mississippi

Payday loans can be an option for those living paycheck to paycheck who need some extra cash. In Pheba, Mississippi, payday loans are legal. However, it is important to understand the terms and conditions of the loan and the potential risks involved before taking one out. In this article, we will delve into everything you need to know about payday loans in Pheba, Mississippi.

What is a Payday Loan?

A payday loan is a small, short-term loan that borrowers take out to cover immediate expenses. Typically, these loans are due on the borrower’s next payday. In Pheba, Mississippi, borrowers can take out a maximum of $500, with a loan term of at least 28 but no more than 30 days. However, the interest rates on these loans can be high, with APRs ranging from 300% to 500%.

How do Payday Loans Work?

To take out a payday loan in Pheba, Mississippi, you must provide proof of income and a government-issued ID. The lender will then give you a loan agreement specifying the loan amount, fees, and repayment date. If you agree, you will provide the lender with a post-dated check or authorize an electronic withdrawal. On the due date, the lender will cash the check or withdraw the amount owed from your account.

The Risks of Payday Loans

While payday loans can provide quick cash, they also come with significant risks. Given the high-interest rates and short repayment terms, borrowers may find themselves stuck in a cycle of debt, unable to pay back the loan on time. This can lead to additional fees, further damaging their financial situation. Additionally, some lenders have been known to engage in predatory practices, including false advertising and excessive penalties, which can harm borrowers.

The Benefits of Payday Loans

Despite the risks, payday loans can be beneficial in certain circumstances. For those who need immediate cash for an unexpected expense, payday loans can provide a lifeline. Additionally, these loans are relatively easy to obtain, with minimal requirements compared to traditional bank loans. Furthermore, payday loans can help those with poor credit, who may not be eligible for traditional loans due to their credit history.

Interesting Facts and Statistics

  • According to data from the Mississippi Department of Banking and Consumer Finance, there were over 1.9 million payday loans made in Mississippi in 2018, with a total value of over $430 million.
  • The average interest rate on a payday loan in Mississippi is 521%, one of the highest in the United States.
  • A study by the Consumer Financial Protection Bureau found that more than 80% of payday loans are rolled over or renewed within two weeks.

Apply Now

If you are considering a payday loan in Pheba, Mississippi, TheGuaranteedLoans can help. With our fast and convenient online application process, we can connect you with potential lenders who may be able to offer you a loan that fits your needs. Remember, we are a connector service, not a direct lender, so we cannot guarantee loan approval or the terms of the loan. However, we are committed to providing our users with a seamless and transparent lending experience.

Overall, payday loans can be a helpful option for those facing a financial emergency. However, it is important to weigh the pros and cons before taking one out. By understanding the terms of the loan and working with a reputable lender, borrowers can make informed decisions that will benefit their finances in the long run.

F.A.Q.

Are there any regulations on how many payday loans a borrower can take out in Pheba, Mississippi?

Yes, there are regulations on how many payday loans a borrower can take out in Pheba, Mississippi. A borrower is limited to a maximum of $500 in outstanding payday loans at any given time.

Are there any restrictions on the fees and charges associated with payday loans in Pheba, Mississippi?

Yes, there are restrictions on the fees and charges associated with payday loans in Pheba, Mississippi. The maximum finance charge is $21.95 per $100 borrowed, and the maximum total charge is $56.95 per $100 borrowed.