Payday Loans in Wheeler, Mississippi

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

Company nameAddressZip codePhone number
Quick Cash Payday Center 515 MS-19, Meridian, MS 39307 +1 (601) 581 - 1990
CB&S Bank 28171 MS-15, Walnut, MS 38683 +1 (662) 223 - 4073
PLS Auto Title & Loan Store East, 100 Meadowbrook Dr #107, Petal, MS 39465 +1 (601) 544 - 0342
Payday Auto Title Loan Store 482 Highway 90 # B, Waveland, MS 39576 +1 (228) 467 - 8059
Cash Express 7189 Will Robbins Hwy, Nettleton, MS 38858 +1 (662) 963 - 1320
Ruleville Cash & Pay 700 N Oak Ave, Ruleville, MS 38771 +1 (662) 756 - 0333
First Heritage Credit 110 Market Pl, Hazlehurst, MS 39083 +1 (601) 894 - 0116
CMB Financial Services, Inc. 5891 US 49 40, Hattiesburg, MS 39402 +1 (601) 583 - 2622
Check Into Cash 6083 U.S. Highway 98, Suites A/B, Hattiesburg, MS 39402 +1 (601) 296 - 6890
Regions Bank 29 E Main St, Ackerman, MS 39735 +1 (800) 734 - 4667

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Wheeler, MS, you can try to find different companies in big cities near by. Check out the following pages here: Same Day Loans in Biloxi, MS, Payday Loans in Greenville, MS, Guaranteed Loans in Gulfport, MS, Payday Loan for Hattiesburg, MS, Emergency Loan in Jackson, MS, Payday Loans in Meridian, MS, Online Loans in Olive Branch, MS and Payday Loans in Southaven, 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 Wheeler, MS.

Beautiful sights of Wheeler, MS

Are Payday Loans Legal In Wheeler, 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

Wheeler, MS payday loan calculator

Payday Loans in Wheeler, Mississippi: What You Need to Know

If you’re living in Wheeler, Mississippi, and you’re facing unexpected expenses, you may have considered taking out a payday loan. Payday loans, also known as cash advances or paycheck advances, are short-term loans that can help you bridge the gap until your next paycheck arrives. However, before taking out a payday loan, it’s essential to understand the regulations and laws in Mississippi.

Payday Loans in Mississippi

Payday loans are legal in Mississippi, but there are specific regulations in place to prevent predatory lending practices. For example, Mississippi law requires payday lenders to be licensed and regulated by the Mississippi Department of Banking and Consumer Finance. The law also limits the amount you can borrow based on your income, caps interest rates, and restricts how many loans you can take out at once.

How Do Payday Loans Work?

Payday loans are typically short-term loans that are meant to be repaid on your next payday. You’ll need to provide proof of income and a government-issued ID to apply for a payday loan. Once approved, you’ll receive the loan amount (minus any fees) in cash, on a prepaid debit card, or directly deposited into your bank account.

In Wheeler, Mississippi, the maximum loan amount is $500, and the term can be between 14 and 30 days. The interest rate cannot exceed 572% APR, and you’re limited to taking out one loan at a time. However, it’s essential to note that the interest and fees can add up quickly, making it challenging to pay off the loan on time.

Pros and Cons of Payday Loans

While payday loans can be helpful in emergency situations, they also come with risks and drawbacks. Here are some pros and cons to consider:

Pros:

  • Easy to qualify, even with bad credit
  • Quick approval and funding
  • No collateral required

Cons:

  • High fees and interest rates
  • Short repayment terms can lead to a debt cycle
  • Can negatively impact your credit score

Interesting Facts and Statistics about Payday Loans in Wheeler, Mississippi

  • Approximately 60% of payday loan borrowers in Mississippi have a gross monthly income of $2,000 or less
  • In Mississippi, the average payday loan amount is $368, with an average interest rate of 521%
  • Mississippi has one of the highest concentrations of payday lenders in the country, with over 1,000 licensed locations

Applying for a Payday Loan in Wheeler, Mississippi

If you’re considering applying for a payday loan in Wheeler, Mississippi, TheGuaranteedLoans can help connect you with potential lenders. We are a connector service, not a direct lender, and we work with a network of reputable lenders who can provide you with competitive loan options.

To apply for a payday loan through TheGuaranteedLoans, simply fill out our online application form. You’ll need to provide basic personal information, such as your name, address, and income. Once you submit your application, we’ll send it to our lender network, and you’ll receive multiple loan offers to choose from.

Final Thoughts

Payday loans can be a helpful tool in the short term, but they come with risks and high costs. Before taking out a payday loan, it’s essential to understand the regulations and laws in Mississippi, as well as the pros and cons. If you decide to move forward, consider working with a reputable lender, such as those in TheGuaranteedLoans network, to ensure you’re getting the best possible loan terms.

F.A.Q.

Can I rollover or renew my payday loan in Wheeler, Mississippi?

Yes, some payday lenders in Wheeler, Mississippi may allow you to rollover or renew your loan for an additional fee. However, it is important to carefully consider the potential risks and costs associated with renewing a payday loan.

Are payday loans regulated in Wheeler, Mississippi?

Yes, payday lending is regulated in Wheeler, Mississippi and all lenders must be licensed and adhere to state laws governing interest rates and fees.