How to Get Out of Debt in 4 Simple Steps

How to Get Out of Debt in 4 Simple Steps

Do you want to get out of debt and enjoy the financial freedom that comes from having a clean slate? If you’re a homeowner, it may be easier than you think. Most homeowners qualify for a low-interest loan that can be used to get out of debt quickly. In less time than you’d imagine, you could be free from high-interest credit card bills and other consumer debt.

Why is it so hard to get out of debt?

It’s easy to find yourself in trouble with consumer debt. Most people intend to pay off their card balances at the end of every month. Unfortunately, medical bills, educational costs, car repair, and other unexpected expenses can add up. Credit card companies bank on customers being unable to pay off their cards in full each month. When you carry a credit card balance, you’re charged an extremely high interest rate (often 15%, 20%, or even 30%). This additional expense makes it even harder to get out of debt. Every month, you waste hundreds of dollars on interest as you watch your balance grow.

If you make only the minimum payment each month, it may take you over a decade to get out of debt. Consider this example: If you have $5,000 in credit card debt at a 17% interest rate, you can make a minimum payment of $125 a month. However, it will take you approximately 26 years to get out of debt, during which time you’ll pay the credit card company an extra $7,115.42. You’ll pay more in interest than you originally owed! Credit card companies have no interest in helping you get out of debt. The more you owe, the more they make.

What’s the easiest way to get out of debt?

The easiest way to get out of debt is to consolidate. Instead of owing money on several high-interest credit cards, you can combine your debt into a single low-interest loan. As a homeowner, you have the ability to qualify for a low-interest loan not available to anyone else: you can take out a home equity line of credit. Your home equity line of credit can be used consolidate your credit card debt at a significantly lower interest rate. Interest rates on these credit lines are often ½ the prime credit card rate or less, which means you’ll save money every month. With a home equity line of credit, you can get out of debt years sooner and save thousands of dollars. As an additional benefit, the interest you do pay on your new line of credit may be tax deductable.

How can Sydney Financial help me get out of debt?

Sydney Financial has a unique time-tested program, proven to help homeowners get out of debt in four simple steps. Not only will you be able to eliminate your credit card debt, but you’ll also pay off your original home loan in about half the time. We can help you become free of credit card debt immediately and help you pay off your home loan in about 10 to 15 years. Here’s what we do:

Step 1: We’ll show you how to take out a low-interest home equity line of credit (HELOC). Your new loan will have a significantly lower interest rate than most credit cards.

Step 2: We’ll help you use the HELOC to consolidate your existing high-interest debts. Now, instead of worrying about your credit card bills piling up, you’ll only have one payment to make each month.

Step 3: We’ll help you set up a mortgage checking account, a specialized account that can be used as your primary checking and savings accounts. Thousands of homeowners have used this type of account to successfully get out of debt and pay off their mortgages early.

Step 4: The mortgage checking account will leverage your monthly income by automatically applying the balance towards your home loan until you need for other expenses. This reduces the daily interest that accumulates on your home loan, saving you thousands of dollars.

By following these four basic steps, you’ll be able to get out of debt and even pay off your original home loan. You’ll save a lot of money and be free of payments years earlier than you’ve expected. The process works. If you ever have any questions, a financial expert will be available to help you.

Why should I choose Sydney Financial?

Sydney Financial offers a unique financial management program, personally tailored to help you get out of debt and pay off your mortgage early. We can help you take out a low-interest HELOC loan. But, we do much more than that. Our copyrighted software program will help you leverage your HELOC to save you time and money. Our financial experts will help you achieve financial freedom earlier than you’ve imagined was possible. With Sydney Financial, you get a complete package deal.

How do I learn more about getting out of debt with Sydney Financial?

Learn more about how you can get out of debt; let one of our financial experts contact you. In the meantime, be sure to check out Sydney Financial Group’s informational video.