Do You Need a Title or Payday Loan in Smyrna?
An OppLoans Guide to Getting The Help You Need


If you want to be close to the action of Nashville but not, you know, in the action, then Smyrna is for you. A beautiful, calm and temperate small town is full of history, natural beauty and more. Smyrna is also one of US News and World Report’s “Best Places to Retire”.(1)

But not everyone is quietly enjoying their retirement in Smyrna. About 8% of the population lives at or below the poverty line(2) and 4% are unemployed.(3) While Smyrna is a great place to live and work, for many, life needs to be better. If you’re suffering in Smyrna or the Nashville area because of low income, unexpected financial emergencies, or even something as serious as homelessness, there is help available to you. The resources below can help you today.

Borrowing Money in Smyrna

If you need money, you might find yourself considering borrowing from a friend or family member. You might also find yourself considering borrowing from a storefront or online lender. There are many inherent risks in borrowing, and just as many predatory lenders out there seeking to take advantage of people when they’re at their most desperate.

If you’re considering taking out a loan, be mindful of the differences between lenders and what distinguishes those that are reputable and responsible from the circling sharks.

Payday Loans in Smyrna
Avoid this payday debt trap altogether.

Maybe you’ve heard the term “Payday Loan” before. Or maybe you’ve even taken one out. Payday loans and payday lenders have terrible reputations. They are often considered an extreme last resort for those in dire financial situations. Why so extreme? Because of their shockingly high fees and predatory lending model.

A payday loan, in its simplest form, is a small loan to get the borrower through until their next paycheck. The borrower signs a check over to the lender for the amount of the loan, plus any interest or fees. When it comes time to repay the loan, the lender will cash the borrower’s check. But in the very likely event that the borrower doesn’t have enough to cover the total amount, the borrower can “rollover” the loan — essentially extending the term of the loan until your next paycheck with another round of interest fees at 390% or more.(4) So, say goodbye to that paycheck that was meant for you, and say hello to an endless cycle of debt.

Tennessee now also allows what is known as a “flex loan”. Basically, a flex loan is an ongoing line of credit with interest rates at nearly 300%. Flex loan customers can borrow against this well beyond the $500 payday loan limit.(5)

To file a complaint against a payday lender in Tennessee, contact the Tennessee Department of Financial Institutions at 1-800-778-4215 or visit Tennessee.Gov.

Personal Installment Loans in Smyrna
A better way to borrow money for life’s needs.

Personal installment loans are a safer alternative to predatory lenders like payday and title loan sharks. An installment loan offered by a responsible and established online or storefront vendor comes with longer terms and lower rates than other lenders. Additionally, regular on-time repayments on personal installment loans can help build your credit.

Family-owned OppLoans offers personal installment loans up to 5,000 and always strives to deliver fast, flexible, fair and five-star service:

  • Fast: Apply online and find out if you’re approved in minutes. Once approved you can get your cash as early as the next business day.
  • Flexible: We offer longer terms, larger loans, and affordable, fixed payments. Your monthly payment will be the same throughout the life of the loan.
  • Five-Star: Customers rate us 4.9 out of 5 stars for our friendly service. We also provide discounts for credit education.

Fill out a quick and easy OppLoans application to qualify for a personal installment loan today. You’ll get a decision quickly and funding as soon as the next business day.

References:

  1. Brandon, Emily. “Best Places to Retire: Smyrna, Tennessee.” US News and World Report. Accessed March 10, 2016. https://money.usnews.com/money/personal-finance/best-places-to-retire/articles/2007/09/20/best-places-to-retire-smyrna-tennessee
  2. “Smyrna, TN Poverty Rate Date.” City-Data.com. Accessed March 10, 2016. https://www.city-data.com/poverty/poverty-Smyrna-Tennessee.html
  3. “Smyrna, TN Unemployment Rate Report.” Homefact.com. Accessed March 10, 2016. https://www.homefacts.com/unemployment/Tennessee/Rutherford-County/Smyrna.html
  4. “Payday Lending.” Federal Trade Commission. FTC.Gov. Accessed March 10, 2016 https://www.ftc.gov/news-events/media-resources/consumer-finance/payday-lending
  5. Kraus, Jennifer. “Critics Call 279% Loan a ‘Debt Trap’ for Poor.’ NewsChannel5.com. Accessed March 10, 2016. https://www.newschannel5.com/news/newschannel-5-investigates/consumer-alert/critics-call-279-loan-a-debt-trap-for-poor
  6. “What Are the Tennessee Laws on Car Title Loans?” GeeksOnFinance.com. Accessed March 10, 2016. https://www.geeksonfinance.com/list_7523790_tennessee-laws-car-title-loans.html
  7. “Rule of Trade for Pawn Shops and Pawnbrokers.” Consumer-law.lawyers.com. Accessed March 10, 2016. https://consumer-law.lawyers.com/rules-of-trade-for-pawn-shops-and-pawnbrokers.html

*OppLoans is not affiliated with any of the programs, services, or organizations referenced on this page.