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How to Get Debt-Free In 2015

debt freeReportedly, the average household in America has as much as $15,000 in credit card debt alone. Add in car payments and mortgages, and it is easy to see how many people can become slaves to their debt. What if you could eliminate most or all of your unnecessary debt? It’s possible. Here’s how.

Analyze Your Financial Situation

Take a good hard look at your financial situation. Identify all of your bills, especially those credit cards that charge you the highest interest. Next, calculate what you earn each and every month. You need to have a plan getting rid of the debt that plagues you the most, such as credit card debt. One good strategy is to pay off the credit card with the highest interest rate first, then the next, and so on.

Consider Consolidation

You may want to consider consolidating some, or all, of your debt into one lower monthly payment. If you are currently paying $800 per month on your various credit cards, you may be able to combine all of those payments into one lower $500 payment, for example. You could do this with a car title loan.

If you own a car that is paid for and has a clear title, you can use it as collateral to take out a short-term loan. Title loan companies like Embassy Loans of Florida have helped thousands of customers get access to much-needed cash very quickly. Customers fill out an application, submit their documentation, and usually receive their money within an hour. Since a vehicle is used as collateral, there are no credit checks and these loans are processed much quicker.

Paying Down and Managing Debt

If you consolidate your monthly debt payments, you can use the savings to pay off another debt. If you now have a $500 monthly payment as in the above example, you can use the extra $300 to help pay off another car, a mortgage or other debt. Make sure you have a plan for paying off the car title loan as well. This way, you can be debt free before you know it.

Once you become debt free, you need to have the determination and will to stay debt free. Resist the temptation to use your credit card for purchases that you cannot afford. When you analyze your financial situation, start a budget and stick to it. This will help you to manage your finances and stay debt free.



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.