Payday Loans in Anguilla, Mississippi

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

Company nameAddressZip codePhone number
Advance America 405-B N Applegate St, Winona, MS 38967 +1 (662) 283 - 1112
United States Postal Service 6061 MS-413, French Camp, MS 39745 +1 (800) 275 - 8777
CB&S Bank 342 Washington Ave, Greenville, MS 38701 +1 (662) 334 - 7400
BancorpSouth Bank 1107 N 2nd St, Booneville, MS 38829 +1 (662) 728 - 4114
A-1 Check-Cashing Inc. 4511 Terry Rd, Jackson, MS 39212 +1 (601) 373 - 8500
Quick Cash for Checks 4154 HWY 51 S, McComb, MS 39649 +1 (601) 250 - 0079
Peoples Bank of the South 125 Main St, Liberty, MS 39645 +1 (601) 657 - 9133
Poplarville Check Cashing 1624 S Main St, Poplarville, MS 39470 +1 (601) 795 - 4599
Advance America 2525 US-90 Ste. 1, Gautier, MS 39553 +1 (228) 497 - 6654
All American Check Cashing 124 W Center St, Canton, MS 39046 +1 (601) 859 - 2273

Payday Loan Companies in Nearby Cities

If there are no payday loan companies in Anguilla, MS, you can try to find different companies in big cities near by. Check out the following pages here: Payday Loans in Hattiesburg, MS, Payday Loans in Jackson, MS, Payday Loans in Meridian, MS, Payday Loans in Olive Branch, MS, Quick Loan in Southaven, MS, Payday Loan Companies in Tupelo, MS, Payday Loans in Biloxi, MS and Bad Credit Loans in Greenville, 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 Anguilla, MS.

Beautiful sights of Anguilla, MS

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

38721

Are Payday Loans Legal In Anguilla, 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

Anguilla, MS payday loan calculator

Understanding Payday Loans in Anguilla, Mississippi: A Guide for Borrowers

Payday loans are an increasingly popular option for borrowers in need of quick cash. While the terms and conditions may vary from one lender to another, payday loans are generally short-term loans with high interest rates and fees. In Anguilla, Mississippi, payday loans are legal and regulated by the Mississippi Department of Banking and Consumer Finance.

How Payday Loans Work

Payday loans are designed to provide an advance on a borrower’s paycheck. Typically, the loan amount ranges from $100 to $500 and is due on the borrower’s next payday. The borrower writes a post-dated check for the loan amount plus fees or provides the lender with authorization to debit their bank account on the due date.

The fees for payday loans in Anguilla, Mississippi are regulated by state law. Lenders can charge up to 22% of the loan amount as a finance charge, which is equivalent to an annual percentage rate (APR) of 572%. For example, for a $100 loan, a lender can charge up to $22 in fees. If the loan is not repaid on the due date, additional fees and interest may be charged.

Benefits of Payday Loans

  • Quick and easy access to cash
  • No credit check required
  • No collateral required
  • No restrictions on how the funds are used

These benefits make payday loans an attractive option for borrowers who may not have good credit or access to other forms of credit. However, payday loans should be used as a last resort due to their high costs and potential for debt traps.

Risks of Payday Loans

While payday loans can provide short-term relief for borrowers in need of cash, they also come with significant risks, including:

  • High fees and interest rates
  • Short repayment terms
  • Potential for debt traps
  • Impact on credit score

Borrowers who are unable to repay the loan on the due date may face additional fees and interest charges. This can lead to a cycle of debt where the borrower takes out new loans to repay the old ones. Additionally, payday loans are not reported to credit bureaus unless the borrower defaults on the loan, which means regular repayment does not help to build credit.

Interesting Facts and Statistics about Payday Loans in Anguilla, Mississippi

Did you know that:

  • According to the CFPB, more than 80% of payday loans are rolled over or followed by another loan within 14 days.
  • The average payday loan borrower takes out eight loans a year, with a total of 18 weeks in debt.
  • Payday lending costs Mississippi families over $270 million in fees every year.
  • The majority of Mississippians living in poverty are women, and women are more likely to take out payday loans than men.

Apply Now with TheGuaranteedLoans

If you are considering a payday loan in Anguilla, Mississippi, TheGuaranteedLoans can help you connect with potential lenders who may be able to provide you with the funds you need. We are a lending connector service, not a direct lender, which means we help you find loan options that match your needs and financial situation.

To apply for a payday loan, simply provide us with some basic information about yourself and the loan you need using our online application form. We will then match you with lenders who may approve your loan request.

Please note that payday loans are a short-term borrowing option and should not be used as a long-term financial solution. Before applying for a payday loan, consider other alternatives such as credit cards, personal loans, or borrowing from friends and family.

At TheGuaranteedLoans, our goal is to help you make informed financial decisions and connect with lenders who may be able to provide you with the funds you need. Apply now and take the first step towards financial freedom.

F.A.Q.

Are there any regulations on how many payday loans a borrower can take out in Anguilla, Mississippi?

Yes, there are regulations on how many payday loans a borrower can take out in Anguilla, Mississippi. A borrower is limited to a maximum of $500 in outstanding payday loans at any given time.

Are there any restrictions on the fees and charges associated with payday loans in Anguilla, Mississippi?

Yes, there are restrictions on the fees and charges associated with payday loans in Anguilla, Mississippi. The maximum finance charge is $21.95 per $100 borrowed, and the maximum total charge is $56.95 per $100 borrowed.