Payday Loans in Scott, Mississippi

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

Company nameAddressZip codePhone number
The Peoples Bank 122 N Guyton Blvd, Blue Mountain, MS 38610 +1 (662) 685 - 4064
Hutchinson Enterprises 105 1st Ave SE, Magee, MS 39111 +1 (601) 849 - 5454
Advance Money Payday 122 W Commerce St, Aberdeen, MS 39730 +1 (662) 369 - 7295
Houston Check Cashers & Tax 686 N Jackson St, Houston, MS 38851 +1 (662) 456 - 4020
Carroll County Bank 704 Lexington St, Carrollton, MS 38917 +1 (662) 237 - 9206
Money Now 214 W Beacon St Suite A, Philadelphia, MS 39350 +1 (601) 656 - 7782
Southern Bancorp Bank 815 Darby Ave, Lambert, MS 38643 +1 (800) 789 - 3428
Eagle Financial Inc. 5914 US 49 20, Hattiesburg, MS 39401
First Consumers Financial of Brandon 211 Woodgate Dr S suite b, Brandon, MS 39042 +1 (601) 724 - 1118
Advance America 6667 US-45 ALT, West Point, MS 39773 +1 (662) 492 - 5949

Payday Loan Companies in Nearby Cities

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

Beautiful sights of Scott, MS

Are Payday Loans Legal In Scott, 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

Scott, MS payday loan calculator

What are payday loans in Scott, Mississippi?

Payday loans are short-term loans designed to help people cover unexpected expenses or emergency financial needs. These loans are usually due on the borrower’s next payday and are accompanied by high interest rates and fees.

In Scott, Mississippi, as in other states across the US, payday loans are legal. In fact, Mississippi has some of the most lenient payday loan regulations in the country, with lenders allowed to charge up to 572% APR on a two-week loan of up to $500.

How do payday loans work in Scott, Mississippi?

To obtain a payday loan in Scott, Mississippi, borrowers typically need to provide proof of income, a valid ID, and a checking account. Lenders may also require a post-dated check or an ACH authorization to withdraw the loan amount plus fees from the borrower’s account on the due date.

In Mississippi, borrowers can take out up to $500 in payday loans, which typically have a term of 14 days. The lender can charge up to $20 per $100 borrowed, plus a $30 NSF (non-sufficient funds) fee if the borrower’s check or ACH authorization bounces.

What are the risks of payday loans in Scott, Mississippi?

Payday loans can be a viable option for borrowers facing financial emergencies, but they come with high risks and should be used with caution.

One of the main risks of payday loans is their high cost. With interest rates and fees that can add up to hundreds of dollars on a small loan, borrowers may find themselves in a cycle of debt that is difficult to break.

Another risk of payday loans is their short-term nature. With a term of only 14 days, borrowers may find it impossible to repay the full amount plus fees by the due date, which can result in rollovers or renewals that add to the cost and extend the debt cycle.

Interesting facts and statistics about payday loans in Scott, Mississippi:

  • According to the Mississippi Center for Justice, Mississippi has more payday lenders per capita than any other state in the US, with one lender for every 4,915 residents.
  • A study by the Center for Responsible Lending found that the average payday borrower in Mississippi takes out 8 payday loans per year, with an average loan amount of $375 and an average APR of 521%.
  • In 2019, Mississippi lawmakers passed a bill to create a statewide database to track payday lending activity and prevent borrowers from taking out multiple loans at once. The database is expected to launch in 2021.

Apply now for a payday loan in Scott, Mississippi

If you need a payday loan in Scott, Mississippi, TheGuaranteedLoans can 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.

Our online application process is quick and easy, and you can receive a loan decision in minutes. Just fill out our secure form and we’ll connect you with a lender who may be able to help.

Remember, payday loans should be used with caution and only for emergency expenses. If you’re unable to repay a payday loan on time, contact your lender as soon as possible to discuss your options.

F.A.Q.

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

Yes, if you default on a payday loan in Scott, 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 Scott, Mississippi?

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