Credit Scores Get Hit:
When a borrower is past due on an account, he or she will see a large drop in their credit rating. One’s score can easily drop 50-100 points when overdue more than 30 days. What does that mean? Nothing good, for sure, but the worst problem is getting turned down for new loans in the future for cars, homes, credit cars, etc. It also means larger deposits for new utility accounts, as well as often getting turned down by landlords. And, it takes a long time to get those mistakes off your record.

Expensive Fees:
Did you ever stop to think about the cost of those late fees? When late on payments, most lending institutions charge a fee of $25 to 40. And that’s even if you only owed a $100 payment. Think about the cost of that if you do it all the time.

Missed Job Opportunities:
Did you know that many employers now look at their potential employee’s credit profile? In fact, with the economy in poor shape, many otherwise qualified candidates lose job opportunities just because of their poor score. The reasoning is simple, if you are not responsible enough to make your payments on time, then how can they trust you to handle the responsibilities of the job?

Higher Interest Rates:
Miss more than a couple of payments to a company and they will raise your interest rates. So a credit card that you got with a reasonable 10% interest rate can easily shoot to 30%. Not only that, as other creditors find out (through the credit reporting), they will inevitably increase the rates on those accounts as well.

There is an Answer:
If you have that budget and you are sticking to it, then the only reason to be in danger of missing a payment is an emergency. Obviously, it is hard to deal with those. But it is a mistake to let even an emergency get you off track. Instead, it is best to borrow the funds to take care of that emergency until you can get back on track. Because of the ability to get instant loans without super credit ratings, and pay them back over a longer period of time, auto title loans can be an important source of emergency cash. If you find yourself in need of emergency funds to stick to your budget, give the folks at Embassy Loans, the leader in title loans, a call. You will find they can provide the professional help you need to stick to your plan.

The good news is auto title loans are available for people who have no luck with traditional lenders. These loans depend on the value of one’s automobile rather than the number on his or her credit report. The applicant does not have to have good credit, or any set amount of income. The lender uses the title on the vehicle as collateral against the title loan. So the good news is that practically anyone with a clear title to a car can get a title loan. The bad news is you are the one that needs to figure out if you can afford it.

How big of a payment can you afford?

If you are considering taking a title loan (or any loan for that matter), you must first calculate the money you have left at the end of the month to see what you have available to spend. If you can think of areas you can squeeze a bit (lower the cable bill, cut back on phone minutes, etc.) so much the better. But this is a time for honesty. If you can not see how you are going to pay the loans payments every month, you will hurt yourself if you over borrow. When you figure the your monthly expenses, make sure you include everything; rent, alimony, electricity, cable, phone, food, etc. You should know the amount of the monthly loan payment you can afford before you look for your loan.

Once you find how large of a loan payment you can afford, the next step is applying with a lender who will be willing to help you. Embassy Loans is the leading auto title lender in Florida and can work with you to get the cash you need at a payment you can afford. Give us a call today or fill in our loan request form on this page. We’ll be happy to help with an affordable loan!

1. Go to Orlando, but skip the theme parks

Everybody thinks of Disney and Universal when they mention Orlando. But it’s one of the best city vacation cities in Florida even if you never set foot in an expensive theme park. There are so many different things that you can do such as go to Titanic The Experience, The Orlando Science Center, ride a zip line, or watch one of hundreds of shows. The best part is, hotels are cheap, food is affordable, and you can drive right to it.

2. Drive a bit farther? Visit Tunica, Mississppi!

If you are the type of person who likes to go to Las Vegas, you’ll love Tunica, Mississippi. Tunica is a great little town that has all kinds of casinos entertainment for you to check out. You won’t have to spend much on accommodations, and it is a great alternative to that expensive airline fare to Vegas.

3. Visit the National Parks

If your family likes the “great outdoors,” you might want to check out some of the amazing national parks across the country. Parks like Yellowstone, the Buffalo River National Park, and Yosemite are just a few of the ones you could check out. Start by checking out the list at this site.

4. Road Trip

Get in the car and take a road trip around the country. You can chart out some attractions that you want to see and things you want to do along the way. You could stay in roadside motels or campgrounds along the way. Think about a trip that takes you up a historic route like US1 along the coast.

5. Last Minute Deals

There are a number of different resources that you could turn to for last-minute travel deals. Many times, hotels or resorts will sell rooms for a deep discount at the last minute. If you’re ready to go, you can take advantage of these deals. Try looking at a site like Kayak on the last minute deals page.

General Tips

If you pay in cash, you can often get great travel deals. Many hotels, for example, offer deals for paying in advance. If you need cash, you might want to consider auto title loans. Embassy Loans is the Florida leader in the industryand can get you the money you need, regardless of what type of a credit history you have. With a car title loan, you can get cash quickly and go on the trip of a lifetime. Your family will never forget it.

Hide the Money
The first thing you need to do is calculate how much money you need from each paycheck to take care of all your monthly bills. Add up all of your payments for the month and divide that amount by how often you get paid. For example, if you get paid every two weeks, divide the total by two. Once you’ve done the math, you now know how much you have to set aside from each paycheck. Take that amount right away and put it aside (if you use cash) or put it in your checking account (if you have one). It’s easier not to spend your bill money if you don’t see it.

Budget With Your Wallet
What’s left from your paycheck is the cash for all of your other purchases. Give yourself a set amount of money to use for gas, groceries, entertainment and miscellaneous buys and don’t let yourself pull out a credit card or dip into the bill money if you run out. This is a great method for people who need visual reminders. When you can physically see your money dwindling down and feel your wallet growing smaller every day, it signals you to slow down on spending. Practicing this tactic will result in fewer buys that you really didn’t need and force you to sacrifice short term gratification for long term happiness.

Keep A Log
A more hands-on approach to fixing your financial life is to track your spending habits if you don’t already. Keep a daily log for one month and log every single purchase you make, including bills, food, gas and less common expenses such as birthday gifts. Organize all of your spending into different categories and take a long hard look at where your money is going. If you do this for a month, it will allow you to easily point out where you may be overspending.

Don’t Let An Emergency Bust The Budget
No matter how much you budget your money, emergency situations are bound to arise. Cars break down, medical issues happen and appliances need repairs but it is important not to miss monthly payments because of these situations. Doing so can take a huge toll on your credit score and make in extremely difficult to get approved for credit in the future. If you need funds for an emergency, a better option would be to look into auto title loans. These are loans that use the money you’ve put into your vehicle to get you approved. Getting one of these loans is much easier than trying to fix your credit later. The folks at Embassy Loans have a lot of experience at getting you through this kind of emergency, without busting the budget. For more information on auto title loans, give them a call at 866-277-5798 or fill out the online form on this page.

Credit Rating Basics

Your credit rating is determined with information that is gathered by the major credit bureaus, and is based on data that they get from the companies you owe money to. These credit bureaus use a formula that was developed by the Fair Isaac Corporation or FICO. The formula looks at information such as your payment history, the amount of debt that you have and other factors. In the U.S., an average score is currently about 720. Anything below 620 is likely to cost you a lot in additional interest, and many times, will cause a loan to be disapproved. If you would like to see what’s in your credit report, you can visit annualcreditreport.com where you can check your file for free once every year. They can also tell you your credit score, although there is a small charge for that.

Most creditors will use your credit rating when you apply for a loan. After you apply for a loan, the lender will look in information like your income and your credit rating. Based on this information, they’ll determine whether you can be approved for the loan and how much interest you’ll pay if you do.

Getting Money With a Bad Score

If you have a poor credit score, does this mean that you can never borrowing money? First of all, your credit score is dynamic and changes every month, based on your financial decisions. So, with work on your part, it can improve. When a lender reports that you are paying your bills on time, your score will improve.

If, however, you need money in the meantime, you can still get cash another way. If you own a vehicle with a clear title, you can get an auto title loan. Auto title loans allow you to borrow against the value of your vehicle by giving the title to a lender. The loan is based on the value of your car, not your credit. You get the title back when you pay the loan back. If your lender reports your payments to the credit bureau, getting a title loans can be a great first step to improve that score. Embassy Loans is Florida’s leader in title loans, and would be happy to help get you credit score headed in the right direction. Give us a call and let’s get working on it together.

The first of the costs that a groom has to prepare for are the rings. Wedding rings will are usually expensive, though not as expensive as the engagement ring. Wedding rings sometimes are inherited through the family, which can be the best way to get them because they will be of good quality and also have good meaning. If wedding rings need to be purchased, the groom and his bride-to-be should visit multiple stores and always keep in mind that price is not the only indicator of quality.

After the rings, the groom needs to consider the costs for the bridal party and the groomsmen. Depending on how extravagant the wedding will be, it may be necessary to put up some of the costs for the bridesmaid’s dresses and the groomsmen’s outfits too. If it’s a simple wedding, these costs will usually be covered by the guests themselves.

The rehearsal dinner will cost quite a lot, so it should be shopped around to many different venues. It’s often that the bride will want a specific venue, though, so cutting costs will mean cutting seats. The best way to save money on a wedding is to invite less people. If that is not possible, you and the Bridge will have to discuss going a bit move downscale on this restaurant, or even decide to have the dinner in a friend or family home.

The wedding and reception dinner will require the church, the reception hall, gifts, centerpieces, and the food & bar . While this can be a huge expense, it is usually the responsibility of the Bride’s family. Often today, however, that responsibility falls on the new couple, so make sure there is a clear agreement about these expenses at the start of the wedding planning.

Finally, there is the cost of the honeymoon. Cutting costs on a honeymoon is very similar to cutting vacation costs. Choosing a cheaper, but fun, destination may be the best way to cut costs on the honeymoon, though many believe that cutting costs on the honeymoon is less preferable than cutting costs on the wedding itself. A honeymoon can also be put off until the couple is more financially stable, though this isn’t quite as romantic.

The final cost of the wedding should be all of these items added together, and the groom should be mindful that these things often go over budget. Even when cutting all possible corners, there’s always the possibility that something will go wrong, or something will change last minute. These things should be planned for by putting a little extra room in the budget.

If there isn’t the cash for these items, there are still some other options. A title loan from an industry leading company such as Embassy Loans can allow you to get cash quickly against the title of your car. This is an ideal type of loan because it’s a secured loan, which means it’s easier to get and has lower interest rates than unsecured loans. Planning a wedding without going into debt can be virtually impossible today. If it looks like your going to need a little help, give the team at Embassy a call today at 866-277-5798. They would be happy to help make your Bride’s dreams come true!

The Costs Associated with Renting your Apartment

Most landlord screen their clients before approving a rental agreement. While the upfront costs a landlord can charge vary from state to state, here are some of the most common costs you will be required to pay as a new tenant:

• Application Fees: Fees are charged per adult. These fees are designed to cover credit checks and background checks as well as the administrative costs of underwriting a rental application. Typically, application fees are between $25 and $35 per adult.

• Deposit: Some states only allow landlords to charge up to one month’s rent as a deposit. While Florida has no legal limits as to the amount of deposit a landlord can ask for, there are competitive limits.  The most common arrangement is to require the payment up front of the first month’s rent, the last month’s rent and a one month deposit, for a total of three months rent up front. Make sure to compare deposits required by various landlords in your area to get an idea of how much you will be asked to pay. If you have bad credit or a pet, you may be required to pay a larger deposit.  Also remember that the landlord of the apartment you currently live in can hold on to your current deposit for up to 60 days in Florida even if he intends to give it back to you.  Since there is also no guarantee that you will get your entire deposit back, you need to assume you will not get your refund before you move into the new place.

• Cost for Keys: You may have to pay for garage keys, gate keys, and access to the laundry room. While these costs are typically low, they are costs you should budget for.

The Costs Associated with Moving Your Belongings

Once you secure your apartment, your financial obligations do not end. If you already have the furniture you need to furnish your new place, you need to find the most cost-effective way to get your stuff from point A to point B. If you do not have a truck, most individuals on a budget find that renting a truck and asking their buddies to help out with the heavy lifting is the most affordable option. Still, you will incur the follow costs:

• Moving Supplies: The cost for boxes, packing materials, dollies, and blankets. Typically, for a small apartment, you can keep the costs for materials below $100 if you are resourceful.  There are often used moving boxes for sale on Craigslist.

• Rental Truck: You should call several rental agencies to compare the cost of renting a moving truck or van for the day. Most agencies charge a daily rate plus mileage. Note that the mileage can really add up.  Other agencies will give you unlimited mileage, which is a good idea if you are moving 10 or more miles away.

• Gas: You must gas up the truck before you turn it in. You may also want to offer your friends gas money for helping you with loading and unloading.

Costs Associated With Furniture

If you are starting out fresh, you may need to buy new furniture for your place. If you do not mind buying used, you can use classifieds ads or Craigslist  to your advantage and furnish your whole home, including the living room, dining room, and bedroom, for $500 or less. If you prefer to buy new, you are going to need to price the cost of pieces with furniture stores so that you can add up the total investment required. Even the most inexpensive sofas cost $300 alone.

Costs Associated with Utilities

You are going to need power at a minimum. In most cases, you will also want cable TV, Internet, and a phone.

• Electric and Gas: In many cases, electric and gas are offered by the same utilities companies. You may have to pay a deposit of $50 to $150 to have your services activated (potentially more, if you have had payment issues in the past).

• Cable, Internet, Phone: If you choose the same service provider, you can pay one deposit for all of the services. Some service providers do not require deposits when you enter into a contract, others require deposits between $100 and $200 when you have bad credit.

Make a list of all of the expenses and determine how much your move is going to cost you upfront. If you find that you have not saved enough to cover the cost, think of resourceful ways to get the cash you need.  One great way to pull together that unexpected cash is a Auto Title Loan from Embassy Loans.  With rates lower than many other loans, and no credit check requirements to slow you down, you’ll find that the team at Embassy can be your best friends during a move.  Give them a call today 866-288-5798 and put your move in high gear!

Auto Equity Loans have a lot of advantages for the borrower.  Since they are secured by the value of the car, they are not based on your credit and they require very little paperwork.  However, since they depend of having a vehicle as the guarantee that the loan company will get it’s money back, both you and the loan company will want to make sure the value of the car is protected.  While that often gets done using insurance, there are options.

There are two basic types of auto insurance.  Personal Injury Protection (PIP) with Property Damage Liability Insurance covers you against personal injury expenses, regardless of  whether or not you cause the crash, up to the limits of your policy. Your PIP will also cover your child, members of your household, certain passengers who lack PIP Insurance as long as they do not own a vehicle.  A minimum of $10,000 of PIP coverage is required by Florida law for all licensed vehicles.  In addition, Florida also requires Property Damage Liability (PDL) insurance.   This coverage pays for damages you or members of your family cause (and are liable for) to other people’s property in a crash involving a motor vehicle.  Again the minimum coverage is $10,000.  Operating a vehicle without these two coverages is against the law and there are significant penalties if you are involved in an accident or receive a traffic citation.  You can not renew your license plate without the minimum insurance. Embassy Loans requires you to comply with the law by purchasing both PIP and PDL coverage.

The other type of insurance is called Comprehensive and Collision insurance.  This insurance covers damage or loss of your vehicle by collision or theft.  While not required by the State of Florida, it is required by any bank or lending institution anytime they loan money secured by your car.  Embassy Loans requires that you have valid comprehensive and collision insurance prepaid for a minimum of 6 months.  This protects both you and Embassy in case a collision or theft destroys the value of your car.  Your loan will be paid off.

If you are applying for an auto title loan, but you do not have the required comprehensive and collision insurance, Embassy Loans can provide another choice.  You may purchase an optional collision wavier debt cancellation addendum, which is available as a voluntary option. If you decide to choose this waiver, it will be included in your monthly payment.  While this addendum is not an insurance product and will not indemnify you, it will cancel the amount left due on your loan should the car be destroyed in an accident.

Debt Cancellation Addendums are just one more way that Embassy Loans provides you flexible loan terms.  If you are in the market for an auto title loan, you owe it to yourself to talk to the leader in the field.  Give us a call at 866-277-5797 or fill out the “Fast Cash Now” form on our website.  One of our team members will be happy to help.