Payday Loans in Winstonville, Mississippi

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

Company nameAddressZip codePhone number
Bank of Kilmichael 24944 MS-15, Mathiston, MS 39752 +1 (662) 263 - 4744
Oddity Title Loan 109 E Church St # A, Greenwood, MS 38930 +1 (662) 455 - 7753
Regions Bank 405 Bank St, Union, MS 39365 +1 (769) 222 - 3480
Danco Finance 1223 Main St B, Tupelo, MS 38801 +1 (662) 841 - 5083
A Dollar Cash Advance 2218 Main St, Tupelo, MS 38801 +1 (662) 840 - 3138
Community Choice Financial (formerly Quik Cash) 1406 Jerry Clower Blvd N, Yazoo City, MS 39194 +1 (662) 746 - 1313
MoneyGram 1698 Crescent Meadow Dr, Holly Springs, MS 38635 +1 (662) 274 - 0070
Quick Check Services Inc 2306 Chicot St, Pascagoula, MS 39581
Check Into Cash 801 Highway 11 South, Ste B, Picayune, MS 39466 +1 (601) 799 - 2406
Check Time 812 Spring St D, Waynesboro, MS 39367 +1 (601) 735 - 4867

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Winstonville, MS, you can try to find different companies in big cities near by. Check out the following pages here: Bad Credit Loans in Meridian, MS, Payday Loans in Olive Branch, MS, Payday Loans in Southaven, MS, Same Day Loans in Tupelo, MS, Short-term Loans in Biloxi, MS, Payday Loans in Greenville, MS, Payday Loans in Gulfport, MS and Payday Loans 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 Winstonville, MS.

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

38781

Are Payday Loans Legal In Winstonville, 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

Winstonville, MS payday loan calculator

Payday Loans in Winstonville, Mississippi

Life is full of surprises, and they’re not always pleasant. You can find yourself in a tricky financial situation at any time, and that’s where payday loans come in. They are short-term loans that can help you cover unexpected expenses until your next payday. In Mississippi, payday loans are legal, and if you’re a resident of Winstonville, you have access to a variety of lenders who can help you out. In this article, we’ll take a closer look at payday loans in Winstonville, Mississippi.

How Do Payday Loans Work?

Payday loans are a type of short-term borrowing that typically carries high-interest rates. The loans are typically for small amounts, ranging from a few hundred to a few thousand dollars. The repayment period for payday loans is usually two to four weeks. Unlike traditional loans that require a credit check, payday loans in Mississippi are based on your income and ability to repay.

When you apply for a payday loan, you’ll need to provide proof of employment and income, such as a pay stub. The lender will then evaluate your income to determine how much you can borrow. Once your loan application is approved, you’ll receive the money, and the repayment period begins. The amount you borrow plus interest and fees will be due on your next payday.

Most payday lenders in Mississippi allow borrowers to extend their loan period if they can’t repay the loan on time. However, this extension usually comes with additional fees and interest charged on the outstanding balance.

Payday Loan Regulations in Mississippi

Payday loans are regulated by the Mississippi Department of Banking and Consumer Finance. The state has set certain guidelines that lenders must follow to operate legally. Some of the guidelines include:

  • Maximum loan amount: $500
  • Loan term: 30 days
  • Maximum finance charge: 18% of the loan amount
  • APR (Annual Percentage Rate): 520%

It’s worth noting that Mississippi doesn’t have a cooling-off period, which means you can take out multiple payday loans in succession. However, this can lead to a cycle of debt that’s difficult to break free from.

Why Do People Take Out Payday Loans?

People take out payday loans for various reasons. Some of the common ones include:

  • Emergency expenses
  • Medical bills
  • Car repairs
  • Utility bills

Most people who take out payday loans in Mississippi do so because they have no other source of credit. That’s because payday lenders don’t require a credit check or collateral to secure the loan.

Benefits of Payday Loans in Winstonville, Mississippi

Payday loans offer several benefits to borrowers in Winstonville, Mississippi, including:

  • Quick access to cash
  • Easy application process
  • No credit check required
  • Flexible repayment options

Drawbacks of Payday Loans in Winstonville, Mississippi

Despite their benefits, payday loans in Mississippi also have their downsides. Some of the drawbacks include:

  • High-interest rates and fees
  • Short repayment period
  • Cycle of debt
  • Potential impact on credit score

Interesting Facts and Statistics About Payday Loans in Winstonville, Mississippi

Did you know that:

  • The average APR for payday loans in Mississippi is 521%?
  • Mississippi has one of the highest poverty rates in the United States, with 19.8% of the population living below the poverty line?
  • Over 100,000 Mississippians take out payday loans every year, with an average loan amount of $375?
  • Mississippi is one of 32 states that allows triple-digit payday loan interest rates?

How to Apply for a Payday Loan in Winstonville, Mississippi

If you’re a resident of Winstonville, Mississippi, in need of a payday loan, you can apply on our website. TheGuaranteedLoans is a connector service that facilitates connections between borrowers and potential lenders. We’re not a direct lender, but we work with numerous lenders across the state to help you get the best loan terms possible. To apply, simply fill out our online application form, and we’ll take care of the rest.

Please note:

Interest rates, loan amounts, and loan terms may vary depending on the lender and your creditworthiness. You should always read the terms and conditions of any loan offer before accepting it. If you have any questions or concerns about payday loans in Winstonville, Mississippi, feel free to contact us. We’re always happy to help.

In Conclusion

Payday loans in Winstonville, Mississippi, offer a useful source of credit for people who need quick access to cash. However, it’s essential to borrow responsibly and only take out a loan if you can afford to repay it. If you’re struggling with debt, seek help from a financial counselor or debt relief agency. TheGuaranteedLoans is always here to help you find the right lender and loan terms that fit your needs and budget.

F.A.Q.

What is the interest rate on a payday loan in Winstonville, Mississippi?

The interest rate on a payday loan in Winstonville, Mississippi varies by lender and may be affected by factors such as your credit score, income, and ability to repay the loan. Interest rates on payday loans are generally higher than on traditional loans.

Can I have more than one payday loan at a time in Winstonville, Mississippi?

It is generally not recommended to have more than one payday loan at a time, as this can lead to financial difficulties and increased interest and fees. Some payday lenders in Winstonville, Mississippi may require you to pay off any existing payday loans before applying for a new one.