Payday Loans in Clarksdale, Mississippi

Things happen, and we usually find ourselves in a place where we have to pay for some surprise bills. Think about applying for a payday loan in Clarksdale, Mississippi, to see if you are eligible.

The loan process is fast and simple. To be eligible, borrowers have to meet a couple of straightforward requirements.

What is a Payday Advance Loan? What Can It Be Put Towards?

A payday loan is where the borrower will be extended a petite sum of cash on a short-term contract. This is considered an unsecured personal loan because no collateral is required.

When unexpected costs come up, like missed rent or utility fees, auto fixes, medical or vet fees, and so forth, individuals frequently turn to paycheck advance loans.

Payday Loan Criteria In Clarksdale, MS

In Clarksdale, MS, payday advance loan borrowers are required to meet several stipulations to qualify for a loan.

The borrower must:

• Prove that they live in Clarksdale, MS
• Must be 18 years old
• Have a steady stream of income that they can provide proof of being at least $1,000/month
• Provide up-to-date contact information including phone number and email address
• Give their SSN

If a borrower does not meet the above rules, they will immediately be denied a cash advance loan. Make sure you can provide the documents needed when applying for a loan.

Laws and Regulations Regarding Payday Loans in Clarksdale, Mississippi

Mississippi has deemed paycheck advance lending legal. However, they have created the following rules and regulations for the cash advance lending market:

• A single money lender can't offer a loan for more than $600. Borrowers cannot have greater than two outstanding loans from different lenders. There is no minimum loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In the State of Mississippi, borrowers are unable to rollover their loans.
• The fees and charges are different for each lender. The service fees enacted by lenders on a payday loan do not fall under interest. The service fees apply to every $100 borrowed and can vary between 11-15%.
• An interest rate must be mutually settled upon. APR can range up to 369%.

Will Paycheck Advance Lenders in Clarksdale, Mississippi, Perform Credit Checks? What If I Have Poor/No Credit History At All?

Yes, the lenders we have a relationship with will do a credit check on you, still, even if you have no credit or poor credit, you might still be eligible for a loan provided you can prove that you can pay back the loan. Lenders are commonly unbothered by your credit if you have proof of income and a plan to pay back the loan.

Lenders will conduct a soft credit inquiry, which will have no impact on your credit score. This is simply to get a feel of your credit history and basic information.

A hard credit check, alternatively, requires your permission. These credit inquiries are performed for a plethora of purposes, such as mortgages, credit card applications, and more.

You can still qualify for a cash advance loan with less than great credit in Clarksdale, MS, as long as you can prove you will repay the loan.

So, when you apply for a loan, whether it is in person or online, make sure that you have your income information at hand and any other documents proving that you can pay back the loan. The more evidence you show, the more likely your loan request will be granted.

When Will I Get My Funds in Clarksdale, MS?

When you receive your loan truly relies on your lender as some lenders advertise same-day payday advance loans, which means you will get your payday advance loan on the same day you apply, as long as you receive an approval.

Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses usually close for holidays and weekends. So, if you submit your application on a Friday, you may not receive your loan until Monday.

If you're needing a same-day payday loan in Clarksdale, Mississippi, you will need to make sure you're applying by 10:30 am. Any and all same-day payments going out that day will be approved by that deadline. However, you should apply earlier than that if possible, as it will boost the likelihood that you see your funds on the day that you submit your application.

One other factor that you should be aware of is despite if the money lender grants your loan request and posts the credit to your checking account, sometimes the bank won't release that deposit right away. It's important to let your bank know that you plan to receive a payday loan, so they could possibly make an exception in releasing the cash earlier.

Overall, it's wise to prepare in advance to receive cash on the next business day. That way, you're not left in the lurch if you cannot get it on the same day.

Consider Borrowing From PaydayLoanRadar

If you possess bad credit or no credit and are wanting to secure a cash advance loan, consider applying through us, as you most likely have a higher chance of approval.

We work with more than one hundred different lenders who provide their services online. Much of the time you will see your money on the following business day so ensure that you plan appropriately.

However, you can always find the closest paycheck advance loan storefront to you and apply in person to boost the chances of receiving your cash on the same business day. When requesting a loan in person, make sure that you have your government ID or driver's license; a passport is sufficient. Now and again, lenders may request proof of address, so take along a utility bill to the store too.

To locate the nearest payday advance loan storefront, please use the list below and locate your city.

Payday Loan Direct Lender Companies in Clarksdale, MS

Below you will find a list of payday loan companies offering their services in Clarksdale, Mississippi. If you can't find a lender near your location in Clarksdale, consider applying in a nearby city in Mississippi. Alternatively, you can apply online on our website and get a decision almost instantly.