Payday Loans: Oxford, MS
Payday loans are available at many financial establishments in Oxford, MS. They are easy to get and have a wide variety of requirements that are necessary before approving a payday loan. Those with credit problems will have difficulty receiving a payday loan in Oxford, MS. Most banks and other lending institutions do not make their money on the interest, but rather on the principle. When a borrower defaults on a loan or is late on a payment, the financial institution will be required by law to turn over the loan to another financial institution. Because payday loans do not need good credit to get approved, it is quite common for those with bad credit to have trouble getting approved. In addition, the interest rate for poor credit borrowers can be outrageously high. Because of this, it's not uncommon for someone with bad credit to try to extend a payday loan just so they can get by another week without having to worry about the added expense of interest. In some cases, this can be a