Payday Loans in Union Church, Mississippi

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

Company nameAddressZip codePhone number
1st Franklin Financial 1667 US 49 #4, Magee, MS 39111 +1 (601) 849 - 5510
Bank of Kilmichael 120 S Depot Ave, Kilmichael, MS 39747 +1 (662) 262 - 7844
Regions Bank 211 N Main St, Calhoun City, MS 38916 +1 (662) 628 - 5181
First State Bank 313 Lafayette Ave, Leakesville, MS 39451 +1 (601) 394 - 2321
Direct Payday Loans 870 U.S. 1, Greenville, MS 38703 +1 (877) 244 - 8254
All American Check Cashing 1107 E Frontage Dr, Wiggins, MS 39577
Community Loans, LLC. 4611 8th St, Meridian, MS 39307 +1 (601) 482 - 2777
Deweese Title Loan 2409 US-45, Columbus, MS 39705 +1 (662) 244 - 5626
Cash Inc 12100 US 49, Gulfport, MS 39503 +1 (228) 831 - 8000
Charlie's Cash For Titles 17377 MS-21, Sebastopol, MS 39359 +1 (601) 625 - 8712

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Union Church, MS, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Gulfport, MS, Payday Loan Without a Credit Check in Hattiesburg, MS, Payday Loans in Jackson, MS, Payday Loans in Meridian, MS, Payday Loans in Olive Branch, MS, Online Loans in Southaven, MS, Payday Loans in Tupelo, MS and Emergency Loan in Biloxi, 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 Union Church, MS.

Are Payday Loans Legal In Union Church, 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

Union Church, MS payday loan calculator

Payday Loans in Union Church, Mississippi: What You Need to Know

If you’re in need of quick cash in Union Church, Mississippi, you may be considering a payday loan. But before you borrow, it’s important to understand the basics of payday lending, the specific laws and regulations in Mississippi, and the potential risks and benefits of this borrowing option.

What is a Payday Loan?

A payday loan is a short-term, high-interest loan designed to tide the borrower over until their next payday. These loans are usually for small amounts, often $500 or less, and may require repayment in full within two weeks or less.

Payday loans are often marketed as a quick and easy way to get cash, but they can come with high fees and interest rates. In fact, according to the Consumer Financial Protection Bureau (CFPB), the average payday loan comes with an annual percentage rate (APR) of around 400 percent.

Payday Loan Laws in Mississippi

Payday lending is legal in Mississippi, but there are strict laws and regulations governing these loans. Under state law, payday lenders must be licensed and are required to follow certain rules, including:

  • Limits on loan amounts and terms
  • Maximum interest rates and finance charges
  • Requirements for written contracts and disclosures

It’s important to note that some jurisdictions within Mississippi may have additional regulations or restrictions on payday lending, so be sure to check with your local government.

The Pros and Cons of Payday Loans

Like any borrowing option, payday loans come with both potential benefits and risks. Some potential pros of payday loans include:

  • Quick access to cash
  • No credit check required
  • May be more accessible to those with poor credit or no credit history

However, the potential risks of payday loans should also be considered, including:

  • High interest rates and fees
  • Short repayment terms
  • Potential for repeated borrowing and debt traps

Facts and Statistics about Payday Loans in Union Church, Mississippi

According to data from the Mississippi Department of Banking and Consumer Finance, in 2020, there were a total of 357,155 payday loans taken out in the state, totaling $131,926,156 in loan volume. The average loan amount was $369, and the average APR was 657 percent.

It’s important to note that these statistics cover the entire state of Mississippi, and data on payday lending specifically in Union Church is not readily available. However, these figures give an indication of the prevalence and potential impact of payday lending in Mississippi as a whole.

Apply Now with TheGuaranteedLoans

If you’re in need of a payday loan in Union Church, Mississippi, TheGuaranteedLoans can help. As a connector service, we work with a network of potential lenders to help match borrowers with the loan options that best fit their needs and financial situation.

To get started, simply fill out our online application. We’ll ask for some basic personal and financial information, and once you submit your application, we’ll work quickly to connect you with potential lenders. If you’re approved, you’ll typically receive your cash within one to two business days.

Remember, it’s important to borrow responsibly and only borrow what you can afford to repay. Payday loans can be a helpful borrowing option in the right circumstances, but they’re not a long-term solution to financial difficulties.

The Bottom Line

Payday loans can be a quick and easy way to get cash when you’re in a pinch, but they come with high costs and potential risks. If you’re considering a payday loan in Union Church or elsewhere in Mississippi, be sure to do your research, understand the applicable laws and regulations, and borrow responsibly.

F.A.Q.

Are there any restrictions on how I can use the funds from a payday loan in Union Church, Mississippi?

Payday lenders in Union Church, Mississippi may place restrictions on how you can use the funds from a payday loan. For example, the funds may need to be used for a specific purpose, such as paying bills or covering unexpected expenses.

Can I get a payday loan if I am receiving social security or disability benefits in Union Church, Mississippi?

Yes, you may be able to get a payday loan if you are receiving social security or disability benefits in Union Church, Mississippi. However, the lender may require additional documentation to verify your income and ability to repay the loan.