Mississippi Payday Loan Laws and Regulations in (MS)

(last updated 01/02/2018)
Payday loans and cash advances are legal in Mississippi. The Mississippi Department of Banking and Consumer Finance has been regulating Payday Loans and Cash Advances since February 20th, 2003. As of 01/01/2015 there were 326 licensed lenders and 1,011 licensed locations in Mississippi.
 
The maximum payday loan allowed in Mississippi is $500 face value of check. The maximum payday loan as a percentage of income is not specified. The number of loans that can be open at one time is not specified. The maximum permissible fees allowed in Mississippi is under $250: $20 per $100 advanced; $250-$500: $21.95 per $100 advanced. The finance charge for a $100 14 day loan is $20. The Maximum APR for a $100 14 day loan is 520%. The cooling off or waiting period for obtaining another loan is 0 days. The number of rollovers that are permitted is none (cannot renew or extend). The minimum loan term is not specified. The maximum loan term is 30 days for loans under $250 and 28 to 30 days for loans of $250-$500.
 
This information is for informational purposes only. Although care has been taken to accurately describe the laws and regulations in Mississippi, no guarantees are implied or expressed about its accuracy. This is not legal advice. If you need legal advice, please consult an attorney or the Mississippi Department of Banking and Consumer Finance.
 
The following classes of lending organizations may be exempt from some, all, or none of the laws set by the state of Mississippi. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for example) a Native American Tribe or the country of Antigua.

Mississippi Payday Lending Regulator (MS)

Regulating Authority
Mississippi Department of Banking and Consumer Finance
901 Woolfolk Building
501 North West Street Suite A
Jackson, MS 39201
(800) 844-2499, (601)359-1031
www.dbcf.state.ms.us/

Agency for Handling Complaints
Mississippi Department of Banking and Consumer Finance
901 Woolfolk Building
501 North West Street Suite A
Jackson , MS 39201
(800) 844-2499, (601)359-1031
www.dbcf.state.ms.us/complaints.asp

 


Related Mississippi Loan Programs

Personal Loans for Bad Credit in MS
$500 to $5,000 - Credit Score Less Than 650
 
Personal Loans in MS
$1,000 to $35,000 - Credit Score 650+
 
Small Business Loans in MS
$2,000 - $500,000 - All Credit Welcome


Positive Thumbs Up Best Payday Loan Tips


Tips for finding the Best Payday Loans.

Payday Loan Application


Apply for a Payday Loan in MS
Flag of the State of Mississippi Everybody likes to park in the shade, including the lousy drivers- like the one that backed into your car. The damage isn’t severe enough to meet your deductible, but it’s bad enough that it needs to be fixed, putting a dent in your wallet. Then, on a scorching summer day, the air conditioning at home bites the dust. Unexpected repairs can be very frustrating and have a way of creeping up on us when we can least afford them. A little bit of extra cash is what you need to get you through to your next payday.

We Give Loans offers unique access to more than 1,120 payday loan sources that can give you the financial peace of mind that you need. Our no cost, no obligation, consumer-to-lender pairing process allows you to find the right payday loan lending source or sources for your circumstances. Whether you have perfect credit, average credit, bad credit, or even no credit at all, we can help. Apply online now. In just moments, you can find the right payday loan lending source for your borrowing needs. Simply fill out our short, secure, online form to get started!


 

Mississippi Payday Loans (MS) by City

Biloxi
Booneville
Brandon
Brookhaven
Canton
Clarksdale
Cleveland
Clinton
Columbia
Columbus
Corinth
Gautier
Greenville
Greenwood
Grenada
Gulfport
Hattiesburg
Hernando
Holly Springs
Horn Lake
Indianola
Jackson
Kosciusko
Laurel
Long Beach
Louisville
McComb
Meridian
Natchez
New Albany
Ocean Springs
Olive Branch
Oxford
Pascagoula
Pearl
Philadelphia
Picayune
Ridgeland
Senatobia
Southaven
Starkville
Tupelo
Vicksburg
West Point
Yazoo City

Mississippi Debt Relief, Financial Counseling, and Consumer Credit Information


If you would like to look into the possible benefits of these services, National Debt Relief - Whom Offers a Free Debt Relief Quote is a leading provider of financial counseling services in Mississippi.