Payday Loans in Philipp, Mississippi

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

Company nameAddressZip codePhone number
First South Farm Credit 203 Cossar Blvd, Charleston, MS 38921 +1 (662) 647 - 3401
Marion Finance Co 805 Main St, Columbia, MS 39429 +1 (601) 736 - 7366
Cash Tyme 1510 Clay St, Vicksburg, MS 39183 +1 (601) 619 - 7666
Money Matters Title Loans 810 Jefferson St, Macon, MS 39341 +1 (662) 726 - 2929
Family Check Advance 3204 Service Dr, Pearl, MS 39208 +1 (601) 932 - 1969
Brown Finance Inc 2224 Denny Ave, Pascagoula, MS 39567 +1 (228) 762 - 4344
Title Plus 507 N Hayden St, Belzoni, MS 39038 +1 (662) 247 - 1300
Check Now Title Loan & Payday Advance 1922 Military Rd, Columbus, MS 39701 +1 (662) 244 - 5929
Republic Finance 2415 Hwy 43 South, Ste D, Picayune, MS 39466 +1 (601) 889 - 1135
Hope Credit Union 106 E Main St, Utica, MS 39175 +1 (601) 991 - 3336

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Philipp, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Tupelo, MS, Payday Loans in Biloxi, MS, Payday Loans in Greenville, MS, Short-term Loans in Gulfport, MS, Payday Loans in Hattiesburg, MS, Payday Loans in Jackson, MS, Emergency Loan in Meridian, MS and Payday Loans in Olive Branch, 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 Philipp, MS.

Beautiful sights of Philipp, MS

Are Payday Loans Legal In Philipp, 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

Philipp, MS payday loan calculator

Payday Loans in Philipp, Mississippi: Understanding the Basics

In Mississippi, payday loans are legal, but they come with strict regulations. Payday loans are meant to be short-term loans designed to help individuals cover unexpected expenses until their next paycheck. If you live in the small town of Philipp, Mississippi, and are facing financial difficulties, a payday loan may be just what you need to cover the costs.

How do Payday Loans Work?

Payday loans are usually for small amounts, ranging from $100 to $500, and are due on your next payday, which is usually within two to four weeks. To qualify for a payday loan, you will typically need to provide proof of income, such as a pay stub, and a valid form of identification.

When you apply for a payday loan, the lender will ask you to write a post-dated check for the amount you are borrowing, plus interest and any fees. The lender will then hold onto the check until your next payday, at which point they will cash the check to cover the loan. If you are unable to pay the loan off in full on your next payday, the lender may allow you to roll over the loan by paying an additional fee.

Regulations on Payday Loans in Mississippi

Mississippi has strict regulations on payday loans to protect borrowers from predatory lending practices. The maximum loan amount is $500, and lenders can charge a maximum fee of $20 per $100 borrowed. This means that if you borrow $500, you will owe $600 in total.

In addition, Mississippi law limits the maximum term of a payday loan to 30 days, and borrowers are only allowed one loan at a time. If you are unable to pay off your loan on time, the lender cannot take any legal action against you unless you have closed your bank account or stopped payment on the check.

Interest Rates on Payday Loans

Payday loans are notorious for their high interest rates, and Mississippi is no exception. The annual percentage rate (APR) on a payday loan in Mississippi can be as high as 573%, which means that if you borrow $100 for two weeks, you could owe $135 in total.

It is important to be aware of the high interest rates and fees associated with payday loans before taking one out. If you are unable to pay back the loan on time, the fees and interest can quickly add up, trapping you in a cycle of debt that can be difficult to break.

Apply Now with TheGuaranteedLoans

If you are in need of a payday loan in Philipp, Mississippi, TheGuaranteedLoans can help. We are a connector service that works with a network of trusted lenders to help you find the right loan for your needs. Our online application process is fast and easy, and you can get connected with potential lenders within minutes.

It is important to remember that TheGuaranteedLoans is not a direct lender, and we do not make credit decisions or determine loan terms. Our role is to connect you with potential lenders and facilitate the loan application process. If you are approved for a loan, the lender will provide you with the loan terms, including the interest rate and fees, before you sign the loan agreement.

Interesting Facts and Statistics about Payday Loans in Philipp, Mississippi

  • In Mississippi, the average payday loan borrower takes out eight loans per year.
  • According to a study by the Pew Charitable Trusts, 12 million Americans take out payday loans each year, spending an average of $520 in fees to borrow $375.
  • Mississippi has the third-highest poverty rate in the United States, which contributes to the high demand for payday loans in the state.

Overall, payday loans in Philipp, Mississippi can provide valuable financial assistance to individuals facing unexpected expenses. However, it is important to approach payday loans with caution and only borrow what you can afford to pay back. If you are considering a payday loan, be sure to shop around and compare lenders to find the best loan terms and interest rates.

Apply Now and Get Connected with Potential Lenders

If you are in need of a payday loan in Philipp, Mississippi, TheGuaranteedLoans can help. Our simple online application process can help you get connected with potential lenders quickly and easily. Fill out our application today and take the first step towards financial security and peace of mind.

F.A.Q.

Can I be sued or have my wages garnished if I default on a payday loan in Philipp, Mississippi?

Yes, if you default on a payday loan in Philipp, Mississippi, the lender may take legal action to collect the debt. This may include suing you or garnishing your wages. It is important to communicate with your lender and try to come to a repayment plan if you are unable to make your payment.

Can I get a payday loan if I have bad credit in Philipp, Mississippi?

Yes, you can get a payday loan even if you have bad credit in Philipp, Mississippi. Payday loans do not typically require a credit check, so your credit history will not be a factor in your eligibility.