(833) 839-2274  157 N State Road 7, Plantation, FL 33317

BlogBlogGetting Rid of Unsecured Debt

Getting Rid of Unsecured Debt

If you are carrying too much unsecured debt, your budget is in trouble. These types of debts, which include things like credit card debt, utility bills, and medical bills, do not require any collateral requirement. The power was turned on in your home based on your signature on an application. The same applies to the extension of credit on a credit card. Unsecured debt, because of its lack of collateral, is considered high risk. Since it is high-risk debt, it also tends to come with high interest rates. High interest credit card debt is one of the biggest things that can ruin a person’s credit history and financial well-being. There are a variety of ways that you can reduce it and even eliminate it.

Use Your Tax Refund

Each year, most people who have unsecured debt will be eligible to receive an income tax refund from the federal government. Depending on the state in which you live, you may receive a state income tax refund as well. Resist the temptation to spend this money on a vacation or a new wide screen TV. Use it to pay off some or all of your unsecured debt.

You Received a Raise

You showed for work one day and found out that you received a raise. Congratulations! Instead of spending money on celebrating your accomplishment, use the extra income to pay down your highest interest debt. Use the raise to pay more on those accounts that are charging you the most in interest.

A Consolidation Loan

You could take out a loan to consolidate your unsecured debt. Consolidating can reduce your overall debt payments per month and help you pay off the debt faster. If you have a high amount of debt, it is likely that your credit rating is poor. Do not worry. If you own a vehicle, you can use it as collateral for a car title loan. Embassy Loans helps thousands and thousands of people just like you each and every year.

A car title loan from Embassy Loans is easy to obtain. You fill out an application, submit a few documents, have your vehicle appraised, and receive your money. There are no credit checks, and it is common for many car title loans to be processed within a few days. You can then use the money to consolidate your unsecured debt and get it paid off quickly.

These are a few of the ways in which you could pay off your unsecured debt. There are others. Any opportunity for you to make extra money whether it is a second job or overtime at our current one is a chance to pay off debt. Be disciplined and pay off your unsecured debt and improve your financial situation.



Embassy Loans is a leading provider of auto title loans since 2005

Get In Touch

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.

© 2024 · Embassy Loans · Site built by DMA

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.