Since 2001, American Cash Advance has been a proven leader in the payday loan industry. We help our customers get the cash they need when they need it. Our dedicated staff provides elite customer service to meet the needs of customers like you and exceed your expectations.

Our team is knowledgeable, and we are committed to following procedures that encourage consumer responsibility, truthful advertising, and full disclosure. After more than a decade of service, we still strive to offer the level and quality of service that has always defined us.

A payday loan is also known as a cash advance loan, a delayed deposit loan, and a deferred presentment loan. These loans can help you pay for unexpected expenses like car repairs, natural disasters, or any other reason you can’t meet your monthly expenses.

To work, the borrower will write a check to the lender. In exchange, the borrower gets an immediate short-term cash loan. The lender doesn’t cash the check until a later date as specified by the agreement signed by the borrower.

With payday loans, you will be required to sign an agreement disclosing the amount of money you have requested, the annual percentage rate, and other relevant information for the lender. You are required to give the lender a personal check for the amount of the loan plus a free.

You may come in to redeem the check on or before the due date as specified. If you don’t, your check may be deposited. The loan amount may also be automatically withdrawn from your bank account as authorized by you in the agreement.

The maximum amount is determined by your income and the state where you live. Each state has unique regulations that govern how much residents can borrow.

Louisiana

Under the Louisiana Deferred Presentment & Small Loan Act, the most you can borrow is $350.

Mississippi

Under the Mississippi Check Cashers Act, the maximum amount you can borrow is $410. In other words, if you write a $500 check, you will receive $410, and there is a $90 fee. It’s illegal to write checks for more than $500.

We charge a loan fee when you borrow funds. This is specific to the laws in your state. You can learn more state-specific details on our rates and terms pages.

Louisiana Rates and Terms

Under Louisiana law, a lender can charge $20 for every $100 borrowed. The lender can also charge a $10 fee for documentation. However, the total amount of the fees cannot exceed $55 when the amount borrowed is between $220 and $350.

Mississippi Rates and Terms

Mississippi law allows a lender to charge no more than $20 for $100 worth of advanced checks. This is a face amount up to $250. For advanced checks with a face amount greater than $251 and up to $500, lenders can charge $21.95 for every $100.

No, it’s illegal to renew, extend, or rollover your payday loan by just paying the fee. The payday loan must be paid in full before you enter into another payday loan transaction. If your lender suggests you only pay the fee, report them!

If your check is deposited and returned unpaid, the lender may charge you a single NSF fee as long as it was disclosed in the agreement. If the court awards a judgment to the lender against you as a result of your returned check, the lender may legally recover costs. This includes court costs, attorney’s fees, and any other court-awarded fees. NSF fees vary by state.

If you can’t repay the loan, the consequences vary based on your state. You need to learn the laws where you live.

Louisiana

If you can’t pay the loan in full on your due date, you can choose to enter into a buy-down program. This allows you to pay 25% of the loan, plus fees, and refinance the remaining balance. 

Extended Payment Plans

You may be able to enter an extended payment plan. If you cannot make the payment when due, you can ask to enter into an extended payment plan once in 12 months. The request must be made before payment is due. Should your lender (licensee) refuse to enter into an extended payment plan upon your request before the due date, contact the Office of Financial Institutions (OFI) at 1-888-525-9414.

Before the due date of the loan, the lender is required to accept a partial payment of $50 or more. This must be applied to the outstanding balance of the loan. On or after the due date of your loan, the lender is allowed to take legal steps to collect the debt.

Mississippi

You can request that the lender place you on a payment plan. However, the lender is not legally required to grant this request.

No, the lender doesn’t have the right to threaten nor use criminal prosecution in an attempt to collect on a payday loan. However, the lender does have the right to file an action against you in civil court.

Yes, you may have more than one payday loan with a lender at any time. The same maximum borrowing amounts will apply for each loan. However, if the first loan did not resolve your financial troubles, a second loan will likely make things more difficult for you. The more payday loans you have open, the harder it will be for you to pay them off completely.

Yes, less-than-perfect credit will not necessarily prevent you from qualifying for a loan. Even if you have been turned down by other lenders in the past, we may be able to assist you in obtaining a loan amount to meet your financial needs. 

With American Cash Advance, you do not need to worry about your application affecting your credit score, as we do not make an inquiry that would affect your scores. Instead, we use information from alternative credit sources and scores to make a determination on your ability to repay your loan.