28 Dec 2020 / by Paola Tanc / in Miscellaneous

Pay day loans in Mississippi. Mississippi has one of several highest 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 just could be the median home earnings one of several cheapest when you look at the nation, Mississippi additionally had the rate that is highest 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 with all the greatest levels of payday loan providers:

County

Populace per Licensee*

Loan Volume**

Total Costs Paid***

*2000 Census information.

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

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

Supply: вЂњHigh-Cost Payday Lending Traps Mississippi BorrowersвЂќ 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 Payday Advances in Mississippi

Take a look at this payday loan guides when it comes to cities that are following MississippiвЂ¦

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