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Steps to Take in a Financial Emergency

Financial RescueYou never know when a financial emergency may come up and because of this, most people simply are not prepared. So, what if a financial emergency occurs?  What should you do? The first thing that you should remember is it is important to gain control of the situation as quickly as possible. Remember, though you may not be able to control the circumstances causing this financial setback, you can certain control your reaction to it. Here are some steps to take when a financial emergency occurs:

Evaluate Where You Stand

The first thing you should do is to literally take a deep breath and evaluate where you stand. It is important that you take a few minutes to pull yourself back and calm yourself down before doing anything. You are going to need a clear head. Once you have done this, you will want to think about what the estimated expenses will be, consider your options when it comes to paying and mull over any support system that you may have.

Know What Needs to be a Priority…and What Doesn’t

You will also need to prioritize the financial obligations you have. For instance, if you need your car to get back and forth to work, you need to make sure to keep your car payment and insurance as a priority. You will also need to make things like food, rent/mortgage and utilities as priority. What isn’t priority? Perhaps your cable bill, a gym membership or charitable donations could go at the end of the list. During this time, you may not be able to pay everything.

Contact Your Creditors

You should also take the time to contact your creditors and explain the situation to them. You may be able to work something out until you get back on your feet. For instance, student loan payments can be deferred and mortgages can be modified. Utility companies may also be able to help, assuming you can pay a portion of your bill at this time.

Cut Spending

Finally, you will want to cut spending. This means you probably will have to stop hitting the coffee shop each afternoon or stop going out for lunch each day. Every dollar you save is a dollar that you can use to get yourself out of this financial hole.

You should also know that there are some ways that you can get money immediately, at least within hours, to help you during this time. One of them is to get a car title loan. Embassy Loans would love to assist. Contact the team at your convenience in order to find out more.



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.