With VELOCITY BANKING you CAN pay OFF that CREDIT CARD DEBT in NO TIME!
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- Опубліковано 28 вер 2024
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Lowes interest is SO high!! Our $500+ lumber? purchase balance ended up just sitting there paying mostly high interest and tiny monthly minimum payments of $30. We hit it hard a couple months and wiped that out! These companies with cards with anywhere from 15%-30+% are predators!!!
High interest rates should be illegal. The Bible even warns against it.
@suzh4187 Exactly, these rates are truly criminal and shouldn't be permitted anywhere! We need huge Christian lenders as part of a parallel system.
I really like more of these kind of scenarios...Play with us VAan. When you bored shoot a video im Here.
Hi Christy, thanks for what you do! I knew you would pass 250k of subscribers! It’s also advantageous to get the zero percent offer on credit card and utilize free interest.. just pay it back before term ends.
It makes me sick not trying to get a Ploc or heloc before getting so far into debt. Now shortly I’m filing for bankruptcy and it just feels terrible. I wish I’d known about this LOC stuff way before.
I don't know what your whole situation is but it is possible to treat any credit card as a PLOC. The interest is a bit higher but it's still doable.
I'm using my Discover card at the moment for it. And I can just do a cash advance and bite the bullet on the fee to pay off smaller bills. At least until I'm able to qualify for a PLOC.
@@GrandreamAre you applying for a ploc at a bank or credit union?
@@NewbieSoaper
Bank. But regardless my credit score is like 630 at best depending on bureau. And my dti is pretty high. I can't even qualify for a loan. Let alone a LOC.
You are saving lives!
Good job Christie !
A minor gaff @ 7:48 though ----> the $1000 towards the Citi CC satisfies the $476 payment, so along w/ the Cap1 & Lowes payoffs, that months' expenses would be $3915.
I feel like this was a great explanation, but I wish they could slow the process down and explain each step a little better.
In the past 18 months, I went from NO credit card debt to having SEVERAL of my old high limit cards maxed out!! I didn't have a large emergency fund & I HAD to use my credit cards because it seemed EVERYTHING happened that required thousands of dollars!!
Now I need to pay so much in monthly payments that I don't have enough to make the payments! My DTI is maxed out. A line of credit large enough to transfer all of these cards to would definitely help me pay them off having one payment a month, especially with the amount I'm paying on all of them. I could have a line of credit paid off in probably less than 2 years.
But, considering filling bankruptcy for the past 6 months but I do not want to. I didn't go out shopping. I had surgeries, car repairs, & home repairs. Wish I had known about a line of credit 18 months ago. 😢
Wait wouldn’t you get the cashflow from Citi for one month because of that payment? The numbers would be even better. Love it.
Your videos are a Big Blessing! Thank You for helping so many
I am noticing how some really bad credit cards iam paying off are charging ridiculous interest for purchases. Isn't it defeating my purpose for using them so much and being charged for basically performing velocity banking? Thank You and any suggestions are appreciated
No one could see that…. Each time
But great info Ty
Not sure how else to contact you and ask but if credit card states: Due to delinquency or some other reason, Capital One charged off this account. That means:
Your account is permanently closed and the credit line is unavailable.
Your account won't accrue more interest or past due fees.
You are still required to pay off your outstanding balance.
Is it worth still using velocity banking to pay off? Is it still worth paying off now or using strategy for another debt? Thanks in advance for your help
I love this. My finances are such a mess and I get scared and then i can't think.
What you said today really made me think.... " it's where you put your money "
The interest raye in Sputh Africa is 11.75% . I need to pay off my car
What about savings accounts? The use of Plaid and it's connection with High Yield Savings accounts. Is Plaid safe?
If you're in consumer debt, then the LOC becomes your savings. If out of debt and looking to purchase an asset then life insurance policy becomes your savings account. You can say velocity bankers don't do savings.
Christy would it make sense to pull 4,000 from a heloc to chunk on a car note so as to refi the car in a lower interest rate? Or even recast the current loan at the smaller balance but same term?
I did a balance transfer from a credit card and did this with my personal loan. Took $100 off my monthly personal loan payment. I did a $5k chunk
Is it better to put all of your attention on one or the other and not both, the Heloc and the credit card or can you do both at the same time by splitting your income in half?
You can do that. You can also pay off the credit card with the HELOC. Clearing out the balance on the CC. What you then do is pay things with the CC and pay off the balance with the HELOC. This does two things. Lowers the ADB on your HELOC and turns your CC into a interest free loan. Credit cards if paid in full every month aren't charge interest. Let me know if this makes sense.
Anyone have reccomendation for a no doc heloc? Im self-employed
nope, those are gone and especially if you're self employed.
Q0
So what im gettin from these videos is get a LOC, pay ya debts off, throw yo income… everything u make a month, into the LOC?
This is an accounting nightmare
Actually, it is very easy.
@Rjmr19 in theory, it's easy. But it takes a long time, tons of discipline and tracking, and if you lose your job or have a reduction in pay, this method can easily spiral out of control.
@@jacobjohnson6766oh Lord YES! 🤞😇
@jacobjohnson6766 it can spiral out of control if one is not using velocity banking and loses their job as well. The point? Get out of debt FAST!
@@jacobjohnson6766Not necessarily true. Not having a LOC, along side extra payments is the nightmare. When income decrease or gone you stop velocity banking. At that point is about keeping head above water, not paying off debt. Also velocity banking is what helps one get bigger LOC to be able to live off them when you do lose that job. Lastly, when one loses their job, depending on why, you usually qualify for unemployment benefits.
If someone can only get a HELOC with checks, can you explain is there a way to not have the incredible headache of paying every single expense manually out of that HELOC
In my area, I’m not finding a bank that will have a debit card associated with the HELOC nor are they doing the overdraft with the checking account
Very good
Hey,
I really liked your content on UA-cam. The quality is top-notch, but your thumbnails could use some improvement. Thumbnails are the face of your videos; the better they are, the more views and profit you'll gain. Would you be interested in hiring a thumbnail designer? I can send you my portfolio and make the first thumbnail as a free sample.
Greetings, I am in Germany and i understood your videos and explanations. BUT can u give us an advice how to persuade the banks to give us a line of credit. I asked every bank here and the answer was: we don't offer such a service. I found one bank but from there they said I have to be an old company with finance experience. Looking forward for your backward connection on that theme.
Super Gorgeous!!🎊🎂🎁🌹🌹
You came to flirt. 💀💀
Do you have any Ploc’s recommendations
🐐🐐🐐🐐🐐🐐🐐