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Non-Traditional Methods Of Consolidating Debt

debt consolidatingMonth after month you struggle to meet your financial obligations. A rent or mortgage payment, a car payment, plus utilities, and a few credit card payments can often leave nothing left at the end of a month. What you might want to consider is consolidating some of your debt to reduce your overall monthly payments.

While you cannot do much with your utility payments or your rent or mortgage, you do have the ability to consolidate credit card debt and reduce how much you pay out each month. For example, if you have four separate credit cards and pay a total of $1,000 each month, you could easily consolidate those into one payment that may be as little as $500 each month. That is significant savings that can be used for variety of other purposes.

Traditionally, you could take out a personal loan from your bank or credit union, or even transfer the balances of several different credit cards onto one card. The problem with those options is that they will require a good credit score. If your financial situation has affected your credit, a loan or a new credit card may not be possible.

What you could do is consider a non-traditional method of consolidation such as a car title loan. If you own a car that has a clear title (meaning it is free of any liens), you can use it to access cash to pay off some, or all, of your debt. A company like Embassy Loans of Florida has helped thousands of customers pay off debt with auto title loans.

The process is very easy. A person starts the process by filling out an application. Embassy Loans will then verify a person’s identity and residency. The title to the vehicle will be examined to make sure it matches the car or truck. Embassy Loans will then appraise the vehicle for its value. The loan terms can then be drawn up and an agreement made. The entire process from beginning to end can take as little as a few hours with most car title loans completed in an hour.

Once complete, a borrower has access to the cash that can be used to pay off any debt. The borrower then will have to repay the car title loan, one that will have a lower payment and one that has a short term. Title loans are normally for shorter periods of time. By paying off any credit card debt, a person could rid themselves of unnecessary debt within a few weeks or months.



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.