Payday Loans in Columbus, Mississippi
Incidents happen, and we usually end up in a place where we have to cover some unexpected expenses. Consider applying for a cash advance loan in Columbus, Mississippi, to see if you qualify.
The loan process is fast and simple. To be eligible, loan borrowers must meet a few basic conditions.
What is a Payday Loan? What Can It Pay For?
A payday advance loan is where the borrower will be extended a petite amount of cash on a short-term agreement. This is deemed to be an unsecured loan due to the fact that no collateral is required.
When unforeseen financial needs come up, such as past due rent or utility payments, car bills, medical or vet payments, and so on, individuals commonly turn to paycheck advance loans.
Payday Advance Loan Stipulations In Columbus, MS
In Columbus, MS, paycheck advance loan borrowers need to meet a few stipulations to qualify for a loan.
The borrower is required to:
- Provide proof that they live in Columbus, Mississippi
- Must be 18 or older
- Receive an income that they can prove that's at least $1,000 per month
- Provide active contact details including phone number and email address
- Provide their SSN
If a borrower does not satisfy the above criteria, they will automatically be denied a cash advance loan. Ensure that you have the documentation needed when requesting a loan.
Laws and Regulations Concerning Payday Loans in Columbus, MS
The State of Mississippi has ruled payday lending legal. However, they have created the following rules and regulations for the payday advance lending industry:
- An individual lender cannot extend a loan greater than $600. Borrowers may not possess greater than two unpaid loans from different lenders. There is no smallest loan amount.
- The minimum loan term is not determined, the maximum loan term length is 31 days. In the State of Mississippi, borrowers cannot rollover their loans.
- The fees and charges change for each loan lender. The service fees enacted by lenders on a cash advance loan are not considered interest. The service fees apply to each $100 borrowed and can vary from 11% up to 15%.
- An interest rate must be mutually decided upon. APR can range up to 369%.
Will Cash Advance Lenders in Columbus, MS, Run Credit Checks? What If I Have Bad/No Credit History At All?
Yes, the lenders we have a relationship with will run a credit check on you, still, even if you have no credit or less than optimal credit, you might still be eligible for a loan given that you can show that you can repay the loan. Lenders are generally unbothered by your credit if you provide proof of income and a strategy to pay back the loan.
Lenders will perform a soft credit pull, which will not impact your credit score. This is simply to get a feel of your credit history and basic information.
A hard credit inquiry, alternatively, requires your permission. These credit checks are utilized for a plethora of purposes, including mortgages, credit cards, and more.
You can still be approved for a cash advance loan with imperfect credit in Columbus, MS, as long as you have proof of repayment.
Therefore, when you apply, whether it is in person or online, ensure that you have your income information at hand and any other documents verifying that you can repay the loan. The more proof you provide, the more likely your loan application will be approved.
When Will I Get My Cash in Columbus, MS?
When you get your money really relies on your lender as some lenders offer same-day payday loans, which means you will see your cash advance loan on the same day you request a loan, as long as you're approved.
Much of the time, however, lenders will give the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Because of this, if you apply on a Friday, you may not get your funds until Monday.
If you're wanting a same-day cash advance loan in Columbus, MS, you will need to be sure that you're applying by 10:30 am. Any and all same-day funds going out that day will be approved by that deadline. However, you should submit an application earlier than that if able, as it will increase the likelihood that you get your loan on the day that you submit your application.
One more consideration that you should be aware of is even if the money lender grants your loan request and posts the deposit to your checking account, occasionally the bank won't release that loan at that time. It's paramount that you let your bank know that you plan to receive a payday loan, so they might make an exception in releasing the cash earlier.
On the whole, it's wise to prepare ahead of time to receive your loan on the following business day. That way, you're not out of luck if you cannot receive it on the same day.
Consider Borrowing From PaydayLoanRadar
If you possess poor credit or no credit and are searching to get a payday advance loan, consider applying through us, as you usually have a higher chance of approval.
We work with more than one hundred different lenders who offer their services online. Frequently you will see your money on the following business day so make sure that you plan correctly.
However, you can always find the nearest payday advance loan store to you and apply in person to increase the chances of receiving your money on the same business day. When submitting an application in person, ensure that you have your government ID or driver's license; a passport will work as well. Infrequently, lenders may ask for proof of address, so bring a utility bill to the store too.
To locate the nearest paycheck advance loan store, please use the list below and search for your city.
Payday Loan Direct Lender Companies in Columbus, MS
Below you will find a list of payday loan companies offering their services in Columbus, Mississippi. If you can't find a lender near your location in Columbus, consider applying in a nearby city in Mississippi. Alternatively, you can apply online on our website and get a decision almost instantly.
If you can't find a lender near your location in Columbus, consider checking out payday loan lenders in nearby cities. Alternatively, apply online on our website and get an instant decision. If approved, you will get your cash the same or next business day.