Midway between Shreveport and Dallas lies the city of Tyler, with its 104,991 residents.

Life isn’t easy for everyone in Tyler. A full 20.3% of its population lives in poverty, with a per capita income of just $25,968 and a median household income of $44,507. That’s nearly $15,000 lower than the U.S. average.

So it might be tempting for folks in Tyler, Texas to take out some kind of quick loan to make ends meet from time to time, especially considering that the number of payday lenders in Texas is double that of the number of McDonald’s. But payday loans are dangerous and almost always best to avoid.

Predatory lenders offer quick, easy cash loans to people in dire straits. But these loans carry high interest rates of well over 300%, plus the fees lenders charge to take the loan out in the first place. If borrowers can’t immediately pay back their loans, most predatory lenders will allow them to “roll over” their loans—basically, take out another loan and pay another fee to pay off the last one. Borrowers can easily end up trapped in an endless cycle of debt thanks to just one 2-week loan.

What is a payday loan?

To take out a payday loan, borrowers give lenders either a postdated check for the amount they will be receiving from the lenders or access to their bank account. Borrowers also pay the lenders a fee—anywhere from 10% of the loan to much more. Most payday loans have to be paid back in 2 weeks, but, as stated above, many predatory lenders will trap borrowers in a debt hole by offering them the ability to roll their loans over.

Texas is one of the least restrictive states when it comes to payday lending—the Center for Public Policies even calls it a “do-nothing” state. That’s great for predatory lenders, and terrible for consumers.

Taking out payday loans in Texas can lead quickly to financial ruin. Taking out a payday loan and ending up in collections can drive down your credit, in addition to costing you thousands of dollars.

It’s understandable why Tyler residents might turn to predatory payday lenders. Maybe you had an unexpected hospital stay that wiped out your savings. Maybe you just need a little cash to get groceries for the week. Or perhaps your car needed a new transmission, and now you’re behind on the rent.

However, instead of turning to a predatory lender, consider some of these community resources.

Food Assistance Resources in Tyler

We understand that putting food on the table is vital and something that anyone can struggle with. Several organizations in Tyler can help, though, eliminating the need to trap yourself in an endless cycle of debt just to feed your family.

East Texas Food Bank

• Address: 3201 Robertson Rd; Tyler, TX 75701
• Phone: 903-597-3663
• Hours: M-Th. 8 a.m. – 4:30 p.m.; F 8 a.m. – 2:30 p.m.

King’s StoreHouse Food Bank

• Address: 422 E. Oakwood St.; Tyler, TX 75702
• Phone: 903-595-5097

For a complete list of food assistance resources in Tyler, click here.

Healthcare Assistance in Tyler

Sixteen percent of Smith County residents are uninsured. That means something like a broken collarbone can wipe out someone’s savings, driving them to predatory lenders. One-third of Smith County residents have medical debt in collections.

Nearby free and sliding-scale clinics can help. Here are some that serve uninsured and underinsured patients:

ETMC First Physicians Clinic

• Address: 1000 E. Fifth St.; Tyler, TX 75701
• Phone: 903-590-5000

Special Health Resources for Texas – Tyler

• Address: 1308 Clinic Dr.; Tyler, TX 75701
• Phone: 903-597-7558

Tyler Family Circle of Care Primary Care

• Address: 2290 N. Broadway Ave.; Tyler, TX 75701
• Phone: 903-593-1892

For a more complete list of healthcare resources in Tyler, click here.

Rent Assistance in Tyler

No one wants to experience homelessness. If you’re just a little short on rent or a bit behind on your mortgage, you may think that a quick, 2-week payday loan is the answer. But before resorting to borrowing from a predatory lender, consider other options for rent or mortgage assistance.

One of the options for residents of Smith County is the Salvation Army. If you’re in danger of being evicted from your home, they may be able to provide rent assistance to get you back on your feet.

The Salvation Army

• Address: 633 N. Broadway Ave.; Tyler, TX 75702
• Phone: 903-592-4361

PATH

PATH has provided housing, food, and medical services to those in need in Tyler since 1985.

• Address: 402 West Front St.; Tyler, TX 75702
• Phone: 903-597-4044
• Email: info@PATHhelps.org

See more local Texas guides below:

Arlington | Austin | Dallas | El Paso | Fort Worth | Houston | Irving | Killeen | McAllen | Plano | Round Rock | San Antonio | Tyler | Waco

• https://www.census.gov/quickfacts/fact/table/tylercitytexas/PST045217
• https://www.texasobserver.org/houston-become-fifth-major-texas-city-crack-payday-loans/
• https://cbb.census.gov/rae/#
• LiveCreditSmart.com
• https://apps.urban.org/features/debt-interactive-map/
• https://factfinder.census.gov
• https://www.nbcdfw.com/news/local/Tyler-City-Council-Passes-Strict-Rules-for-Payday-Lenders–124390789.html
• https://www.consumerfinance.gov/about-us/newsroom/cfpb-statement-payday-rule/
• https://www.americanbanker.com/news/cfpb-goes-back-to-the-drawing-board-on-payday-rule