Loan Options in Mississippi

Mississippi allows both payday loans and installment loans. Each type operates under different rules enforced by the Mississippi Department of Banking and Consumer Finance. Payday loans follow the Mississippi Check Cashers Act (Miss. Code Ann. § 75-67-501 et seq.), while installment loans fall under the state's small loan and consumer finance statutes.

The details that affect you most-maximum loan amounts, fee caps, rollover limits, and cooling-off periods-vary by product. You'll find verified numbers on the Mississippi payday loans and Mississippi installment loans pages. For a cost comparison, check the rates & fees page. If you'd rather avoid high-cost short-term borrowing, start with alternatives available in Mississippi.

• Licensing requirement. Every company offering payday or consumer loans in Mississippi needs a valid license from the DBCF. Before sharing personal information, use the DBCF regulated-entities lookup to confirm the lender is authorized.
• Rollover limits on payday loans. Mississippi restricts how many times you can renew or roll over a payday loan. That cap helps stop fees from piling up indefinitely-check the current limit on the payday loans page.
• Written disclosure before you sign. Licensed lenders must give you the total cost, finance charges, and repayment terms in writing before you agree. If a lender won't show you these numbers upfront, walk away.
• A way to file complaints. The DBCF accepts complaints against licensed lenders. If you believe a lender broke Mississippi law, file a complaint through the DBCF's consumer resources page.

Before you share personal or financial details with any lender, review the LendUp scams & safety guide for warning signs of predatory or unlicensed operators.