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Payday advances in Mississippi. Mississippi has among the greatest concentrations of licensed lenders that are payday the U.S

Payday advances in Mississippi. Mississippi has among the greatest concentrations of licensed lenders that are payday the U.S

Having a median home earnings of just $44,717, Mississippi is well underneath the national average of $61,937. Not merely may be the median home earnings one of several cheapest within the country, Mississippi additionally had the rate that is highest of men and women residing underneath the poverty line in 2019: 19.7percent.

Payday advances in Mississippi

The dining table below shows the 15 counties in Mississippi utilizing the greatest levels of payday loan providers:

County

Populace per Licensee*

Populace per Licensee*

Loan Volume**

Total Costs Paid***

*2000 Census information.

**This is projected by multiplying how many licensees by the median that is national size ($350) by the national normal loans per shop (3,643).

***Assuming a charge of $21.95 per $100 lent.

Source: “High-Cost Payday Lending Traps Mississippi Borrowers” Johnson, J. Center for Responsible Lending. December accessed.

Customer Protection in Mississippi

Just how to Report a Lender in Mississippi

The Mississippi Department of Banking and Customer Finance

  • Address: P.O. Box 12129 Jackson, MS 39236-2129
  • Mobile: (601) 321-6901

Guides to Pay Day Loans in Mississippi

Take a look at this payday loan guides for the cities that are following Mississippi…

  • Jobs
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  • States
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