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Negotiating A Debt Settlement

NegotiatingIf you have fallen into a debt spiral that you just cannot get out of, you may attempt to negotiate a debt settlement with some of your creditors. Working out a debt settlement agreement is oftentimes the best alternative to a mountain of debt. If done correctly, you can find yourself debt-free within a matter of months.

To negotiate a debt settlement directly with your creditors, you will need to understand the tactics used by those who are seeking to get paid. You will have to provide the creditor with all of the details of
your account, including your name, address, account numbers, and balance owed. Unless you are an attorney, you may not be able to use any legal tactics in your negotiations. Generally though, you should not have to.

Negotiating a debt settlement is like negotiating anything else. You want to come away paying as little as possible, while the creditor wants to get as much as it can from you. Typically, a debt settlement agreement will reduce your balance owed by 30 to 60 percent. A settlement will not erase the debt, but it will make it much easier for you to pay the creditor off.

Debt settlement arrangements can be completed by an individual who negotiates with his or her creditors. There are debt settlement companies who will charge a fee and complete the process for you. These companies have years of experience in working with creditors and may be able to get you a better deal than you would on your own.

Depending on the amount of debt that you have, you might consider a car title loan. Car title loans are short-term loans that are issued against a vehicle used as collateral. If you own a car or truck outright and the vehicle has a clear title, you can qualify.

Title loan companies, like Embassy Loans of Florida, have made the process very simple. You apply for the loan either at one of the company’s offices or online, and the loan is processed within an hour. Applicants present the title to the vehicle and a few forms of identification and that’s it. No credit checks or background checks are necessary. Borrowers receive their money quickly and can pay off some of those high interest creditors. Car title loans are usually in the range of a few hundred dollars to a few thousand. For larger debts, a settlement arrangement may be necessary.



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.