Payday Loans in Jackson, Mississippi

Events happen, and we often wind up in a spot where we have to cover some surprise costs. Consider applying for a payday advance loan in Jackson, MS, to see if you are eligible.

The loan request process is quick and straightforward. To qualify, you have to satisfy a couple of basic conditions.

What is a Payday Loan? What Can It Pay For?

A payday loan is where the borrower will receive a small sum of funds on a short-term basis. This is considered an unsecured personal loan due to the fact that no collateral is required.

When unexpected costs present themselves, for example past due rent or utility bills, auto fixes, medical or vet bills, and so forth, people commonly seek out payday advance loans.

Payday Loan Stipulations In Jackson, MS

In Jackson, MS, payday loan borrowers must meet a few criteria to be eligible for a loan.

The borrower has to:

• Provide proof that they are a resident of Jackson, MS
• Must be at least 18
• Have a steady stream of income that they can prove that's at least $1,000/month
• Give up-to-date contact information including phone number and email address
• Provide their social security number

If a borrower does not abide by the above requirements, they will immediately be denied a payday advance loan. Make sure you possess the documents required when requesting a loan.

Laws and Rules Concerning Payday Advance Loans in Jackson, MS

The State of Mississippi has deemed payday lending legal. Although, they have created the following rules and regulations for the payday advance lending market:

• An individual lender can't extend a loan greater than $600. Borrowers are not allowed to possess more than two active loans from different lenders. There is no smallest loan amount.
• There is no minimum loan term, the maximum loan term length is 31 days. In Mississippi, borrowers are unable to rollover their loans.
• The fees and charges are different for each money lender. The service costs charged by lenders on a cash advance loan are not considered interest. The service fees apply to every $100 borrowed and can range between 11-15%.
• An interest rate is required to be mutually decided upon. APR can be as much as 369%.

Will Paycheck Advance Lenders in Jackson, Mississippi, Run Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we have a relationship with will perform a credit check on you, but, even if you have no credit or less than optimal credit, you might still be eligible for a loan provided you can show that you can pay back the loan. Lenders are commonly unbothered by your credit if you possess proof of income and a plan to repay the loan.

Lenders will perform a soft credit check, which will not impact your credit score. This is simply to get an idea of your credit history and general information.

A hard credit pull, on the other hand, requires your explicit consent. These credit pulls are used for a plethora of purposes, including mortgages, credit cards, and more.

You can still qualify for a payday advance loan with poor credit in Jackson, Mississippi, if you have proof of repayment.

So, when you request a loan, albeit in person or online, ensure that you have your income information ready and any other documents showing that you can pay back the loan. The more evidence you have, the better chance your loan request will be granted.

When Will I Receive My Cash in Jackson, Mississippi?

When you see your money truly relies on the lender as some lenders advertise same-day paycheck advance loans, which means you will see your cash advance loan on the same day you submit your application, as long as you receive an approval.

Most of the time, though, lenders will give the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Because of this, if you apply on a Friday, you may not receive your loan until Monday.

If you're needing a same-day paycheck advance loan in Jackson, Mississippi, you will need to be sure that you're applying by 10:30 am. All same-day deposits going out that day will be approved by that deadline. However, you should request a loan earlier than that if able, as it will increase the likelihood that you receive your money on the same day that you apply.

One other consideration that you should be aware of is despite if the money lender approves your application and posts the deposit to your bank account, occasionally the bank won't release that funds at that time. It's vital that you let your bank know that you plan to get a cash advance loan, so they might make an exception in releasing the deposit earlier.

Overall, it's best to prepare in advance to receive your deposit on the following business day. That way, you're not out of luck if you cannot get it on the same day.

Think About Borrowing From Us

If you possess underwhelming credit or no credit and are wanting to secure a paycheck advance loan, think about applying through us, as you probably have a better chance of approval.

We work with hundreds of different lenders who offer their services online. Often you will receive your funds on the following business day so ensure that you plan appropriately.

Although, you can always locate the nearest payday loan storefront to you and apply in person to boost the chances of seeing 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 will work as well. Now and again, lenders may request proof of address, so bring a utility bill to the store as well.

To find the nearest payday loan store, please use the list below and search for your city.

Payday Loan Direct Lender Companies in Jackson, MS

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