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Get A Handle On Your Debt

Handle on DebtWith the United States’ total consumer debt nearly $12 trillion, individuals need to get control of their debt situation. Eighty percent of Americans are “in debt,” much of that debt being related to housing and vehicles. Fifty percent of all households that have at least one credit card have an average balance of $1,000. Ten percent have a balance of $10,000 or more. Managing debt can be a frustrating, time-consuming process but, if left unchecked, that debt can lead to further financial struggles in the future.

 

There are many people who, unfortunately, choose to do nothing about their debt. Doing nothing is, of course, a choice. Debt will not just magically disappear. People need to get a handle on what they owe and have a plan to take care of it.

 

One of the obvious solutions is simply to not spend as much. If people can cut down on some of their purchases, they can help to eliminate some of their debt. The problem for many is that cutting an $80 cable bill or not eating out as much per month can only go so far. It is a start, but consider that the average household credit card debt is $15,000.

 

Debt consolidation is another popular method utilized to help pay off consumer debt. Those with multiple credit cards, for example, can consolidate all of the balances into one and come up with a new combined payment much lower than paying all of the cards separately. Still, there are times where households struggle to meet their monthly financial obligations.

 

If an individual has a problem making all of his or her bill payments, as many do, there are a few alternatives. When cash is needed and needed fast, an individual can opt for a variety of loans. A loan from a financial institution is an option. Those with less than stellar credit make a difficult time obtaining a loan from a bank or credit union.

 

Another possibility is a payday loan. For those who are employed, you can receive some quick cash using your next paycheck as collateral. The process of obtaining the loan is fairly easy and the borrower can collect his cash usually within 24 hours.

 

A great alternative is a car title loan. For those who have a vehicle with a clear title, they can access funds within a day or two by using their car or truck as collateral. The process is pretty simple. A vehicle owner offers the car or truck as collateral. Potential borrowers fill out an application and are not required to have a credit check. The process is fast and borrowers will have their cash within an hour.



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.