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

By having a median home earnings of just $44,717, Mississippi is well underneath the nationwide average of $61,937. Not just may be the median home earnings one of many cheapest when you look at the country, Mississippi additionally had the greatest price of individuals residing underneath the poverty line in 2019: 19.7percent.

Pay day loans in Mississippi

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

County

Populace per Licensee*

Populace per Licensee*

Loan Volume**

Total Costs Paid***

*2000 Census information.

**This is calculated by multiplying how many licensees by the nationwide median loan size ($350) by the national typical loans per shop (3,643).

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

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

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 Payday Advances in Mississippi

Have a look at this payday loan guides when it comes to cities that are following Mississippi…

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