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Never Miss A Payment!

Missed Payments“But I couldn’t help it”. Well, you might feel that way, but when you miss a payment, the bank or the utility company, or the landlord doesn’t care. You think that they are picking on you, or they are heartless, but the truth is you didn’t do what you promised; you said you would pay your bills on time. It didn’t have to come to this, however. If you have a budget and you are careful not to spend the money you don’t have, you can pay your bills. Let’s make sure you understand the some of the bad things that happen when you miss payments.

Credit Scores Get Hit:
When a borrower is past due on an account, he or she will see a large drop in their credit rating. One’s score can easily drop 50-100 points when overdue more than 30 days. What does that mean? Nothing good, for sure, but the worst problem is getting turned down for new loans in the future for cars, homes, credit cars, etc. It also means larger deposits for new utility accounts, as well as often getting turned down by landlords. And, it takes a long time to get those mistakes off your record.

Expensive Fees:
Did you ever stop to think about the cost of those late fees? When late on payments, most lending institutions charge a fee of $25 to 40. And that’s even if you only owed a $100 payment. Think about the cost of that if you do it all the time.

Missed Job Opportunities:
Did you know that many employers now look at their potential employee’s credit profile? In fact, with the economy in poor shape, many otherwise qualified candidates lose job opportunities just because of their poor score. The reasoning is simple, if you are not responsible enough to make your payments on time, then how can they trust you to handle the responsibilities of the job?

Higher Interest Rates:
Miss more than a couple of payments to a company and they will raise your interest rates. So a credit card that you got with a reasonable 10% interest rate can easily shoot to 30%. Not only that, as other creditors find out (through the credit reporting), they will inevitably increase the rates on those accounts as well.

There is an Answer:
If you have that budget and you are sticking to it, then the only reason to be in danger of missing a payment is an emergency. Obviously, it is hard to deal with those. But it is a mistake to let even an emergency get you off track. Instead, it is best to borrow the funds to take care of that emergency until you can get back on track. Because of the ability to get instant loans without super credit ratings, and pay them back over a longer period of time, auto title loans can be an important source of emergency cash. If you find yourself in need of emergency funds to stick to your budget, give the folks at Embassy Loans, the leader in title loans, a call. You will find they can provide the professional help you need to stick to your plan.



Embassy Loans is a leading provider of auto title loans since 2005

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Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

Monthly Interest Rates range from 1.5% to 2.5% (18% to 30% APR), with 15-18 Month Terms.

No Prepayment Penalties!

Embassy Loans uses “Title Loans” for advertisement purposes only and provides auto equity loans. Embassy Loans Inc. is licensed under the “Florida Consumer Finance Act” under Florida Statute 516 and as such Embassy Loans is exempt from any licensing requirements under the “Florida Title Loan Act” to the extent that any of Embassy Loans’ activities involve the making of a loan of money to a consumer secured by bailment of a certificate of title to a motor vehicle.

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Frequently Asked Questions

What is an Auto Equity Loan?

An auto equity loan, sometimes known as a car title loan or a car equity loan, is a type of loan that allows you to borrow money by using your vehicle as collateral. The loan is secured by your vehicle, meaning you agree to use the equity in your car to back the loan. 

What is an Unsecured Personal Loan

An unsecured personal loan is a loan that does not require collateral. Funds are provided based on your credit worthiness and your ability to repay. 

What Is the Credit Builder Program

The credit builder program is designed to help individuals establish or improve their credit score with the primary purpose of building a positive credit history through regular payments.

Can i have more than one Loan at a time?

Embassy Loans can only extend one loan at a time and it’s advisable to start with one and focus on making payments in a timely manner to prevent default.

What happens if I miss a payment?

Missing a payment can have negative consequences, including late fees, a drop in your credit score, and potential default on the loan. Consistent, on-time payments are crucial to benefit from the program.