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 household that is median of just $44,717, Mississippi is well underneath the nationwide average of $61,937. Not merely may be the median home earnings one of many cheapest within the country, Mississippi also had the greatest price of individuals residing underneath the poverty line in 2019: 19.7percent.

Payday advances in Mississippi

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

County

Populace per Licensee*

Populace per Licensee*

Loan Volume**

Total Costs Paid***

*2000 Census information.

**This is believed by multiplying the amount of licensees because of the nationwide median loan size ($350) by the national normal loans per shop (3,643).

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

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

Customer Protection in Mississippi

Simple tips 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

Consider this payday loan guides when it comes to after towns in Mississippi…

  • Jobs
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  • States
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