Payday Loans in Scooba, Mississippi

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

Company nameAddressZip codePhone number
Cash Express 711 N 4th St, Baldwyn, MS 38824 +1 (662) 365 - 5889
Quick Cash 1073 Goodman Rd, Horn Lake, MS 38637 +1 (662) 349 - 5626
PLS Auto Title Loan 3921 Bienville Blvd, Suite F1, Ocean Springs, MS 39564 +1 (228) 689 - 1011
1st Heritage Credit 408 N Applegate St, Winona, MS 38967
Family Check Advance 2317 Pass Rd, Gulfport, MS 39501 +1 (228) 864 - 8797
Speedee Cash 1910 US-82 suite d, Greenwood, MS 38930 +1 (662) 455 - 2515
United Credit of Forest 234 Woodland Dr N A, Forest, MS 39074 +1 (601) 469 - 1200
Loanmax Title Loans 16481 US-90, Pearlington, MS 39572 +1 (228) 533 - 2540
Jackson Hewitt Tax Service 810 Main St, Collins, MS 39428 +1 (601) 765 - 5040
Cash Inc 828 Union Church Rd, Brookhaven, MS 39601 +1 (601) 833 - 0700

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Scooba, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loan Companies in Olive Branch, MS, Payday Loan Without a Credit Check in Southaven, MS, Payday Loans in Tupelo, MS, Guaranteed Loans in Biloxi, MS, Payday Loan Without a Credit Check in Greenville, MS, Payday Loan for Gulfport, MS, Payday Loans in Hattiesburg, MS and Short-term Loans in Jackson, 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 Scooba, MS.

Beautiful sights of Scooba, MS

Payday Loans Available in Scooba, MS By The Following ZIP Codes:

39358

Are Payday Loans Legal In Scooba, 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

Scooba, MS payday loan calculator

Payday Loans in Scooba, Mississippi – What You Need to Know

When faced with financial emergencies, many people turn to payday loans to get quick access to cash. And if you’re in Scooba, Mississippi, you’re in luck because payday loans are legal in the state. But before you rush to apply for a payday loan, it’s important to understand how they work, the benefits and risks, and any legal implications involved. In this comprehensive guide, we’ll explore everything you need to know about payday loans in Scooba, Mississippi.

What are Payday Loans?

First, let’s define what payday loans are. Payday loans are short-term loans that are typically due on the borrower’s next payday. They are designed to help people bridge the gap between paychecks when faced with unexpected expenses or emergencies.

Payday loans are known for their fast and easy application process. Unlike traditional loans that may require credit checks and extensive documentation, payday loans typically only require proof of income and a valid ID. This makes them an attractive option for people with bad credit who may not qualify for traditional loans.

The Benefits of Payday Loans

  • Fast and easy application process
  • No credit check required
  • Can be used for any purpose
  • Approved funds can be available in as little as one business day

The Risks of Payday Loans

  • High interest rates and fees (APR can be as high as 500%)
  • Short repayment terms (often due on the borrower’s next payday)
  • May lead to a cycle of debt if not paid back on time
  • May lead to legal action if the borrower fails to repay the loan

Payday Loans in Scooba, Mississippi – Legal Requirements

Although payday loans are legal in Mississippi, the state has strict regulations in place to protect consumers. According to Mississippi law, payday loans are limited to $500 per loan and must have a repayment term of no less than 28 days and no more than 30 days. Additionally, lenders are prohibited from renewing or extending payday loans, and borrowers may not take out more than one payday loan at a time.

It’s important to note that lenders in Mississippi are required to be licensed with the Mississippi Department of Banking and Consumer Finance. Before applying for a payday loan in Scooba, make sure the lender you choose is licensed and in compliance with state regulations.

Interesting Facts and Statistics about Payday Loans in Scooba, Mississippi

  • The average payday loan amount in Mississippi is $375.
  • Mississippi has the highest concentration of payday lenders per capita in the United States.
  • Payday lenders in Mississippi charge an average APR of 520%.
  • More than 80% of payday loans in Mississippi are rolled over or renewed, leading to a cycle of debt for many borrowers.
  • In 2019, Mississippi legislators attempted to pass a bill that would cap payday loan interest rates at 36%, but the bill failed to pass.

Apply Now for a Payday Loan in Scooba, Mississippi

If you’re in need of a payday loan in Scooba, Mississippi, TheGuaranteedLoans is here to help. As a connector service, we work with a network of trusted lenders who may be able to provide you with the funds you need. To apply for a payday loan, simply fill out our online application form. We’ll review your application and connect you with potential lenders in our network. Remember, payday loans should only be used for short-term financial emergencies, and it’s important to repay them on time to avoid the high fees and interest rates associated with these types of loans.

F.A.Q.

Is it mandatory for payday lenders to provide information on alternative forms of credit in Scooba, Mississippi?

Yes, payday lenders in Scooba, Mississippi are required to provide information on alternative forms of credit to borrowers. This is to ensure that borrowers have access to other options for borrowing money, and to prevent them from taking out multiple payday loans.

Are there any protections for borrowers of payday loans in Scooba, Mississippi?

Yes, there are protections for borrowers of payday loans in Scooba, Mississippi. These include the requirement for lenders to disclose the terms and conditions of the loan, the prohibition on rollovers and renewals, and the maximum interest rate and fees that can be charged. Borrowers also have the right to dispute any incorrect information on their credit reports.