Payday loans in Mississippi: the rules and your way out

Mississippi's rules, line by line

Largest loan

$500 face amount of delayed deposit checks per customer at any time, including fees (Miss. Code 75-67-519(2), (4)(c)). DBCF says the most a borrower can receive is $410 on a $500 check.

Shortest term

Checks over $250 and up to $500: at least 28 days (75-67-519(1)(b)).

Longest term

Checks up to $250: up to 30 days. Checks over $250 and up to $500: no more than 30 days (75-67-519(1)).

Fee or rate cap

No more than $20 per $100 advanced for a delayed deposit check with a face amount up to $250, and no more than $21.95 per $100 advanced for a check over $250 and up to $500 (75-67-519(4)).

Renewals and rollovers

Prohibited. A check may not be repaid with the proceeds of another check cashed by the same licensee or an affiliate, and a licensee may not renew or otherwise extend any delayed deposit check (75-67-519(5)).

Loans at once

No numeric limit is stated, but the customer's total is capped at $500 including fees at any time (75-67-519(2)). DBCF's pamphlet says a borrower may have more than one loan within that total.

Payment plan if you cannot pay

Not required. DBCF's regulation says a licensee 'may' set up a payment plan for customers in default, and DBCF's pamphlet says the lender is not legally required to grant a payment plan request.

State loan database

No statewide database was found in the Check Cashers Act text reviewed.

Limits on collection

No late fee or collection fee on default. One processing fee for a returned check if authorized in the written agreement (75-67-519(7)), capped at $30 one time by DBCF regulation. Court-awarded fees are recoverable if the licensee sues and wins (75-67-519(7)). The licensee may not start or initiate criminal prosecution over an NSF check to collect the debt (75-67-515(10)).

Other rights

Written agreement stating the fees as a dollar amount and an APR (75-67-519(3)). The lender must give a DBCF consumer education pamphlet before the transaction (75-67-519(9)). No extra fee for cashing the licensee's own check or money order (75-67-519(8)). Separate product: credit availability accounts (Miss. Code 75-67-601 et seq.) with a monthly handling fee of up to 25% of the outstanding principal plus an origination fee, and a maximum outstanding balance of $3,320 from July 1, 2026. That Act is set to be repealed July 1, 2030.

If you are behind on a payday loan in Mississippi

1. Stop the automatic withdrawals if they are emptying your account. You can revoke the lender's permission to debit your account and tell your bank. How to do it.
2. Look at a credit union payday alternative loan. Federal credit unions can lend $200 to $2,000 at much lower cost. How they work.
3. Talk to a nonprofit credit counselor. A counselor can look at all your bills, not just this one. How to find a real one.

Check a lender, or report one

• Check whether a lender is licensed in Mississippi
• File a complaint with the Mississippi Department of Banking and Consumer Finance (DBCF), Consumer Finance Division
• File a complaint with the Consumer Financial Protection Bureau

Sources

• Mississippi Check Cashers Act text (DBCF-hosted), read 2026-10-24
• DBCF Check Casher Regulations (eff. 12-1-12), read 2026-10-24
• DBCF, Payday Loans in Mississippi consumer education pamphlet, read 2026-10-24
• 2021 HB 1075 (signed), reenactment/repealer removal, read 2026-10-24
• 2026 HB 547 (signed), amends 75-67-517 and 75-67-619, read 2026-10-24
• 2025 SB 2495 (signed), Credit Availability Act repealer and cap, read 2026-10-24
• DBCF memo, Credit Availability Maximum Outstanding Balance (June 19, 2026), read 2026-10-24
• DBCF 2026 Legislative Update, read 2026-10-24
• DBCF Consumer Finance page, read 2026-10-24

This page summarizes the law; it is not legal advice. Laws change, and the statute and regulator control. If something here is out of date, write to hello@paydayloan.help.