Payday Loans in Meridian, Mississippi

Incidents happen, and we often end up in a spot where we have to pay for some surprise costs. Think about submitting an application for a payday loan in Meridian, Mississippi, to see if you meet the requirements.

The loan request process is quick and effortless. To be eligible, you have to satisfy a few simple conditions.

What is a Cash Advance Loan? What Can It Be Used For?

A payday advance loan is where the borrower will be extended a petite amount of money on a short-term agreement. This is thought of as an unsecured personal loan as no collateral is required.

When unforeseen costs arise, like missed rent or utility fees, car bills, medical or vet payments, and so forth, people frequently turn to payday loans.

Payday Advance Loan Criteria In Meridian, Mississippi

In Meridian, MS, payday loan borrowers must meet several requirements to be eligible for a loan.

The borrower is required to:

• Prove that they reside in Meridian, MS
• Must be 18 years of age
• Have an income that they can provide proof of being at least $1,000 per month
• Provide active contact details like phone number and email address
• Provide their SSN

If a borrower does not abide by the above rules, they will automatically be denied a payday loan. Ensure that you possess the documentation required when submitting your application.

Laws and Regulations Regarding Payday Loans in Meridian, MS

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

• A single money lender cannot offer a loan for more than $600. Borrowers may not have more than two active loans from different lenders. There is no smallest loan amount.
• The minimum loan term is not set, the longest loan term length is 31 days. In the State of Mississippi, borrowers may not rollover their loans.
• The fees and charges are different for each loan lender. The service costs enacted by lenders on each loan or transaction do not fall under 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 be as much as 369%.

Will Paycheck Advance Lenders in Meridian, MS, Complete 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 possess no credit or less than stellar credit, you might still be eligible for a loan given that you can show that you are able to repay the loan. Lenders are usually unbothered by your credit history if you offer 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 look at your credit history and general information.

A hard credit check, dissimilarly, must have your explicit consent. These credit inquiries are used for a variety of purposes, such as mortgages, credit cards, and more.

You might still qualify for a payday loan with less than great credit in Meridian, MS, as long as you have proof of repayment.

So, when you apply for a loan, albeit in person or online, double check that you have your income information easily accessible and any other documents verifying that you can pay back the loan. The more proof you have, the better chance you are to be approved.

When Will I Get My Deposit in Meridian, Mississippi?

When you receive your cash actually depends on your lender as some lenders provide same-day cash advance loans, which means you will receive your paycheck advance loan on the same day you apply, as long as you get an approval.

Most of the time, however, lenders will send the borrower their lump sum on the following business day. Businesses generally close for holidays and weekends. Therefore, if you submit your application on a Friday, you might not see your cash until Monday.

If you're wanting a same-day payday loan in Meridian, Mississippi, you will need to ensure you're applying by 10:30 am. Any and all same-day loans going out that day will be approved by that cut-off. However, you should request a loan earlier than that if able, as it will increase the likelihood that you see your cash on the day that you submit your application.

One additional consideration that you should be aware of is even if the lender grants your loan request and posts the loan to your bank account, occasionally the bank won't release that credit immediately. It's paramount that you let your bank know that you plan to receive a paycheck advance loan, so they might make an exception in releasing the cash earlier.

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

Think About Working With PaydayLoanRadar

If you have less than great credit or no credit and are searching to secure a paycheck advance loan, think about applying through us, as you frequently have a higher chance of approval.

We work with hundreds of different lenders who offer their services online. Most of the time you will get your loan on the following business day so ensure that you plan correctly.

Although, you can always locate the closest payday loan storefront to you and apply in person to boost the chances of getting your loan on the same day. When requesting a loan in person, ensure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may request proof of address, so take along a utility bill to the store too.

To find the nearest cash advance loan storefront, please refer to the list below and locate your city.

Payday Loan Direct Lender Companies in Meridian, MS

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