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Assessing Your Options for Quick Money Without Credit

Fast-CashNot having credit can be incredibly detrimental, especially when you find yourself in a situation where you are in need of a loan of some kind. Credit is essentially your way of proving that you’re financially responsible enough to pay back the money that you owe someone. Having no credit or bad credit means that formal institutions, such as credit card companies and banks, can’t trust you to meet your financial obligations.

 

However, there are options available to those who find themselves in need of money, even if they have no credit or bad credit. Whether they need money for an emergency situation, such as a dental appointment or home repair that sprung up without warning, or they simply find themselves in need of money for a vacation or similar expense, there are options to consider.

 

Loans from Friends and Family ­­- Even if an organization may not be willing to give you a loan, it’s possible that you could work out a deal with a friend or family member who may be able to help you out with your financial situation. This isn’t an ideal solution for everybody, as not all individuals like doing business with people they know on a personal level, so be sure to assess whether or not this is the right option for you before you start asking around.

 

Selling Personal Items – If you have enough assets, you may be able to get the money you need to pay for an expense by selling some personal items. Electronics such as televisions and video game consoles may be able to get you enough cash to take care of some expenses. However, it’s always good to be aware that selling items or pawning them at a pawn shop will not always get you enough money to take care of larger expenses. You may also lose out on some of the value of the item.

 

Car Title Loans ­­– If you own your vehicle and it is fewer than ten years old, a car title loan may be your quickest and simplest option for getting the money that you need. While a car title loan will need to be repaid, there is usually ample flexibility available that will allow you to do so. Embassy Loans of Florida is an example of one such lender offering car title loans, and is typically able to approve a loan – even in a situation where the person seeking the loan has no credit or bad credit – in fewer than twenty-four hours.

 

There is no single solution that is right for everybody. However, a car title loan can be a great way to access quick cash when a financial emergency strikes. Be sure to assess all of the options available to you carefully, and to take many different avenues under consideration when you are looking for the money that you need. Meanwhile, it can also be a good idea to start building up your credit again once you have used one of these methods to help take care of immediate expenses.

 

 

 



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.