Payday Loans in New Albany, Mississippi

Things happen, and we often find ourselves in a situation where we have to pay for some unforeseen costs. Think about applying for a paycheck advance loan in New Albany, Mississippi, to see if you meet the requirements.

The loan application process is fast and simple. To qualify, borrowers have to meet a few simple criteria.

What is a Payday Advance Loan? What Can It Cover?

A cash advance loan is where the borrower will be extended a petite amount of funds on a short-term contract. This is considered an unsecured personal loan as no collateral is expected.

When unexpected expenses present themselves, such as past due rent or utility expenditures, vehicle costs, medical or vet expenditures, and so forth, people often turn to paycheck advance loans.

Payday Advance Loan Criteria In New Albany, MS

In New Albany, Mississippi, paycheck advance loan borrowers are required to meet a few stipulations to be eligible for a loan.

The borrower is required to:

• Show proof that they reside in New Albany, Mississippi
• Must be 18 or older
• Have a steady stream of income that they can provide proof of being at least $1,000 per month
• Give active contact information including cell phone number and email address
• Give their social security number

If a borrower does not satisfy the above rules, they will immediately be denied a cash advance loan. Ensure that you possess the documentation required when applying.

Laws and Regulations Regarding Payday Advance Loans in New Albany, Mississippi

Mississippi has ruled cash advance lending legal. However, they have put forth the following rules and laws for the payday advance lending market:

• An individual money lender can't extend a loan in excess of $600. Borrowers are not allowed to take out more than two active loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not determined, the longest loan term length is 31 days. In the State of Mississippi, borrowers may not rollover their loans.
• The fees and charges change for each lender. The service costs enacted by lenders on a loan do not fall under interest. The service fees apply to every $100 loaned and can range from 11% up to 15%.
• An interest rate must be mutually agreed upon. APR can be as much as 369%.

Will Paycheck Advance Lenders in New Albany, MS, Run Credit Checks? What If I Have Dismal/No Credit History At All?

Yes, the lenders we partner with will do a credit check on you, still, even if you have no credit or less than optimal credit, you may still be approved 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 have proof of income and a plan to repay the loan.

Lenders will conduct a soft credit pull, which will not impact your credit score. This is solely to get a feel of your credit history and basic information.

A hard credit pull, dissimilarly, must have your explicit consent. These credit inquiries are done for a variety of purposes, including mortgages, credit card applications, and more.

You can still be approved for a cash advance loan with less than great credit in New Albany, Mississippi, as long as you can prove you will repay the loan.

Therefore, when you apply, whether it is in person or online, make sure that you have your income information ready and any other documents proving that you can repay the loan. The more proof you provide, the more likely you are to be approved.

When Will I See My Loan in New Albany, MS?

When you get your cash really relies on the lender as some lenders advertise same-day payday loans, which means you will receive your cash advance loan on the same day you request a loan, as long as you're approved.

Most of the time, though, lenders will send the borrower their lump sum on the following business day. Businesses often close for holidays and weekends. Therefore, if you apply on a Friday, you might not get your loan until Monday.

If you're looking for a same-day payday advance loan in New Albany, 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 cut-off. However, you should submit an application earlier than that if able, as it will boost the likelihood that you get your cash on the same day that you apply.

One other factor that you should understand is despite if the money lender grants your loan request and posts the deposit to your bank, occasionally the bank won't release that credit immediately. It's paramount that you let your bank know that you plan to receive a payday advance loan, so they might make an exception in releasing the funds earlier.

Overall, it's best to prepare ahead of time to get your deposit on the next business day. That way, you're not out of luck if you cannot get it on the same day.

Consider Working With Us

If you have poor credit or no credit and are looking to get a payday loan, think about applying with us, as you frequently have a higher chance of approval.

We partner with more than one hundred different lenders who offer their services online. Much of the time you will receive your loan on the next business day so make sure that you plan accordingly.

Although, you can always locate the closest payday advance loan store to you and apply in person to increase the chances of seeing your cash on the same day. When submitting an application in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may request proof of address, so bring a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in New Albany, MS

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