Payday Loans in Pontotoc, Mississippi

Incidents happen, and we usually wind up in a place where we must cover some surprise expenses. Consider applying for a paycheck advance loan in Pontotoc, MS, to see if you qualify.

The loan application process is fast and painless. To be eligible, you must meet a few general conditions.

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

A cash advance loan is where the borrower will get a petite sum of cash on a short-term agreement. This is considered an unsecured loan due to the fact that no collateral is required.

When surprise bills present themselves, such as past due rent or utility expenditures, vehicle fees, health or vet fees, and so on, people frequently rely upon cash advance loans.

Payday Loan Stipulations In Pontotoc, MS

In Pontotoc, MS, payday loan borrowers are required to satisfy several requirements to qualify for a loan.

The borrower is required to:

• Prove that they are a resident of Pontotoc, MS
• Must be at least 18
• Receive a steady stream of income that they can prove that's at least $1,000 per month
• Give current contact information such as cell phone number and email address
• Give their SSN

If a borrower does not satisfy the above criteria, they will automatically be denied a payday advance loan. Ensure that you can provide the documents required when applying.

Laws and Rules Regarding Payday Advance Loans in Pontotoc, Mississippi

The State of Mississippi has deemed payday lending legal. Still, they have enacted the following rules and regulations for the paycheck advance lending industry:

• An individual money lender cannot offer a loan in excess of $600. Borrowers are not allowed to take out more than two outstanding loans from different lenders. There is no minimum loan amount.
• The minimum loan term is not set, the longest loan term length is 31 days. In Mississippi, borrowers are not allowed to rollover their loans.
• The fees and charges are different for each lender. The service fees enacted by lenders on a loan do not fall under interest. The service fees apply to every $100 borrowed and can vary 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 Pontotoc, Mississippi, Run Credit Checks? What If I Have Bad/No Credit History At All?

Yes, the lenders we work with will complete a credit check on you, but, even if you possess no credit or less than optimal credit, you may still be eligible for a loan as long as you can prove that you are able to pay back the loan. Lenders are generally unconcerned about your credit if you offer proof of income and a plan to pay back the loan.

Lenders will perform a soft credit check, 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 inquiry, dissimilarly, needs your explicit consent. These credit pulls are performed for a plethora of purposes, such as mortgages, credit card applications, and more.

You might still be approved for a payday loan with bad credit in Pontotoc, MS, as long as you have proof of repayment.

So, when you request a loan, whether it is in person or online, ensure that you have your income information ready and any other documents showing that you can repay the loan. The more evidence you show, the more likely your loan application will be approved.

When Will I See My Money in Pontotoc, MS?

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

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

If you're looking for a same-day paycheck advance loan in Pontotoc, MS, you will need to make sure you're applying by 10:30 am. Any and all same-day loans 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 see your deposit on the day that you submit your application.

One more consideration that you should understand is despite if the lender grants your loan request and posts the funds to your bank account, occasionally the bank won't release that funds immediately. It's vital that you let your bank know that you plan to get a paycheck advance loan, so they could possibly make an exception in releasing the funds earlier.

Overall, it's wise to prepare ahead of time to get your loan on the following business day. That way, you're not surprised if you cannot get it on the same day.

Consider Working With PaydayLoanRadar

If you possess underwhelming credit or no credit and are needing to secure a payday loan, consider applying through us, as you frequently have a higher chance of approval.

We partner with over one hundred different lenders who offer their services online. Most of the time you will get your deposit on the following business day so make sure that you plan accordingly.

However, you can always find the nearest paycheck advance loan storefront to you and apply in person to increase the chances of receiving your loan on the same day. When applying in person, make sure that you have your government ID or driver's license; a passport is sufficient. Sometimes, lenders may ask for proof of address, so take along a utility bill to the store as well.

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

Payday Loan Direct Lender Companies in Pontotoc, MS

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