Legal Status
Legal
Citation
Miss. Code Ann. §§ 75-67-501 et seq.
Loan Terms
Maximum Loan Amount: 500
Loan Term: 30 (min 28 if loan is between $250 and $500)
Finance Charge for 14-day $100 Loan: 20
APR for 14-day $100 Loan: 521%
Debt Limits
Maximum Number of Outstanding Loans at One Time: Max $500 in all checks. MS ST § 75-67-519(2)
Rollovers Permitted: None. Miss. Code Ann. §75-67-519
Cooling-off Period: None Specified
Collection Limits
Collection Fees: $30 NSF Fee
Criminal Action: Prohibited. Deceptive advertising of any kind is a violation of the statute.