By having a household that is median of just $44,717, Mississippi is well underneath the nationwide average of $61,937. Not just may be the median home earnings one of several cheapest within the country, Mississippi additionally had the greatest price of individuals residing underneath the poverty line in 2019: 19.7per cent.

Payday advances in Mississippi

The dining 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 believed by multiplying the sheer number of licensees by the nationwide median loan size ($350) by the national normal loans per store (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

How exactly 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 for the cities that are following Mississippi…

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