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This page was last updated November 2018

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Fair Credit Lenders in Nashville TN

Lenders: contact us for listing removal.

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The Tennessee Credit Union
1400 8th Avenue S Nashville
TN 37203 / www.ttcu.org
615.244.1910

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US Community Credit Union
801 Broadway, Nashville
TN 37203 / www.usccu.org
615.256.8712

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Cornerstone Financial Credit Union
1701 21st Avenue S, Nashville
TN 37212 / www.bankcfcu.org
615.385.6866

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Enbright Credit Union
1214 Church St #100, Nashville
TN 37246 / www.escu.com
615.687.4801

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Ascend Federal Credit Union
Genesco Park, Suite 148
1415 Murfreesboro Pike, Nashville
www.ascendfcu.org
800.342.3086

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St. Thomas Credit Union
4230 Harding Pike Suite 103
Nashville, TN 37205 / 615.292.7828
www.stthomascu.org

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NGH Credit Union
1818 Albion Street, Nashville
TN 37208 / www.nghcu.com
615.341.4455

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Parthenon Federal Credit Union
2204 Rosa L Parks Blvd, Nashville
TN 37228 / www.parthenonfcu.org
615.749.6461

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Life Credit Union
2010 Church Street, Suite 204
Nashville, TN 37203 / lifecu.org
615.230.5433

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Bad Credit Loans in Nashville TN

Fast Loan Pre-App Method
Accessing Bad Credit Lender Pool (?)

Learn about GAP (Gift Angel Program)

 

Nashville TN Lender Area Map

Nashville Bad Credit Lenders Map - Initial Static Image

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Nashville TN Loan App Volume

Top 5 Nashville neighborhood loan app volume

  1. Sobro
  2. East Nashville
  3. Amqui Station
  4. Wedgewood/Houston
  5. Donelson

Ryman Auditorium in Nashville Tennessee: Licensing/Credit

Nashville Bad Credit Loan Example

Denise from Nashville had to consolidate $100,000 dollars. She had a student loan balance, credit card debt, and 2 personal loans with high interest.

Here is a list of the creditors she owed money to.

$35000 student loan @ 6.46%
$25000 personal loan #1 @ 10.12%
$25000 personal loan #2 @ 9.34%
$3000 owing Amex @ 19.95%
$4000 owing Visa @ 22.88%
$8000 car loan balance @ 7.45%

Notice largest debt was her student loan. This is not always possible. Some lenders won't allow you to take out a personal (unsecured loan) to pay off a federal student loan debt.

This is why Sheila ultimately ended up choosing to get her consolidation loan with a private lender. The interest rate was a little higher but she was willing to do go forward anyway.

Her credit score was in the "fair" range though so that made it feasible to go ahead and consolidate all of the above listed debts.

She also had two different unsecured personal loans she wanted consolidated. Both for $25000 and with different lenders. One loan was with Wells Fargo, and the other was with a local credit union.

She owed a smaller balance of $3000 on her American Express card and $4000 owing on her Visa card. Of course this is where her highest interest rates were.

And finally, she had an $8000 balance on her car loan. This was an old loan and mostly paid off over time. She got this car loan with her parents cosigning for her when she started attending University.

Here we have the calculated consolidation loan.

Debt Consolidation Amount = $100000
Interest Rate = 6.34%
Term Length = 10
Monthly Payment = $1,127.36
Total Paid Back = $135.282.7
Total Interest = $35,282.7

It's plain to see that Denise didn't have a really bad credit score at the time of this loan. She also had a cosigner again. Her father agreed to cosign to get her out from under all these high interest debts. The lender she chose was a private lender serving the entire State of Tennessee.

The reason her credit score wasn't so bad is because she never missed a payment in her life. A smart thing to do. You have to try and protect your credit rating. We wish more of our users could do the same, but sometimes fate can deal a cruel hand.

Local Nashville lender @ 7.45%
Tennessee wide lender #1 @ 7.89%
Tennessee wide lender #2 @ 6.34%
USA wide lender #1 @ 8.23%
USA wide lender #2 @ 8.11%

She chose the State wide lender with the lowest rate for a few reasons. One reason is they were extremely friendly on the phone. The second reason was they had the lowest rate. The third reason was they had reasonable closing fees.

She had her father read over the loan agreement before she signed on. She mentioned that he is a lawyer so he's fussy. When it comes to reading and understanding a contract he's always pounded into her head the importance of that.

Her father also insisted that she not change employment for the term (if possible). He also wanted her to fill out a thorough and detailed monthly budget spreadsheet. And he asked to make sure she stuck to her budget.

So with this loan there were surely strings attached. That's usually that case when you borrow large sums of money from a parent.

If you're living in Nashville like Denise, and need a loan regardless of your credit rating, we may be able to help you find a willing lender.

Sincerely,

Chris Somerset

Chris Somerset is a writer for the WFL Project.

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Upgrades Nearest Nashville TN

Job/Income Upgrades: Indeed / Snag-A-Job

Education Upgrades: College / University

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Nashville Credit Counseling

Nashville Credit Counsellors Map - Initial Static Image

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Counselors contact us for listing removal or info change.

Apprisen Credit Repair
615 Main St Nashville
TN 37206 / www.apprisen.com
615.777.3404

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Credit Glory Credit Repair
217 6th Avenue N, Nashville
TN 37219 / creditglory.com
800.807.4388

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The Credit Factory
2720 Clarksville Pike, Nashville
TN 37208 / 615.651.8076
www.creditfactoryusa.com

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Federal Resources

FTC Budget PDF / USA.GOV Debt Info

Nashville Assistance Programs

Food Bank: Second Harvest Food Bank Of Middle Tennessee / Address: 331 Great Circle Road, Nashville, TN 37228 / Phone: 615.329.3491

Hot/Cold Meals: The Nashville Food Project / Address: 3605 Hillsboro Pike, Nashville, TN 37215 / Phone: 615.460.0172

Shelter In Case of Eviction: Nashville Rescue Mission / Address: 639 Lafayette Street, Nashville, TN 37203 / Phone: 615.255.2475

Social Assistance Programs: Metro Social Services / Address: 800 2nd Avenue North, Nashville, TN 37201 / Phone: 615.862.6400

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Usury Law Governing Nashville TN

Summary of Tennessee Usury Law(s) / Legal: 10% / Contract: 4% over average weekly prime rate / Judgment: 10% / Corporate: Rate not specific (read more on Tennessee lending laws)

Complaint process for Nashville residents:

Tennessee Department of Financial Institutions / Tennessee Complaint Process / Tennessee Complaint Form (PDF)

Mailing Address: Tennessee Department of Financial Institutions - Consumer Resources Section / Tennessee Tower, 26th Floor, 312 Rosa L. Parks Avenue, Nashville, TN 37243-1102 / Phone: 800.778.4215 Fax: 615.253-7794 Email: tdfi.consumerresources@tn.gov

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WFL Loan Products

Nashville residents who require a fresh start with a bad credit loan to rebuild credit learn more here. Or, perhaps your score is just fair - you can learn more here. If you're in debt way over your head, you can learn about our debt consolidation solutions here.

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