Amazing debt repayment system: Pay off debt in half the time
This week’s issue is for the people who are accustomed to paying more than the minimum balance on credit cards, student loans, car notes, or mortgage payments.
What if there were a way to repay your debts even faster without spending another dime than what you already are on payments, and have a valuable financial asset when finished?
Before anyone gets any funny ideas:
It’s not debt consolidation.
It’s not any kind of charge-off or bankruptcy plan.
Not everyone has heard of “Infinite Banking” or “Be Your Own Bank”. Many Real Estate Investors and business owners have though, and they’re taking full advantage.
But did you know there’s actually an application designed for the general public that is built all around Debt Elimination?
As mentioned, the strategy for Debt Elimination is best suited for people who like to pay more than the minimum amount due on their debt, not for people who are behind on payments or can only meet the minimum payments.
See the idea, and the beauty behind the strategy I’m going to share is that we are simply re-routing money that is already deployed so you do not have to spend “new money” from another part of your budget.
Essentially here’s how it works:
We take a list of all your debts that you pay monthly, with interest. We enter the debt, the interest amount, the payment period, the minimum amount due, and what you normally pay.
We take the amount you pay which is in excess of the minimum payments and use this as the money we start your own bank with.
You continue to pay, on time, but switch down to your minimum payment.
Your excess money goes into the cash value life insurance account we create for you and earns guaranteed interest. When your money accrues to the amount to pay back one of the debts, you receive an email.
The email tells you to take a policy loan out and pay off the balance.
After that balance is paid off one Debt #1, take the minimum amount you were paying monthly and add it to the money you’re paying into your bank, creating an even bigger snowball effect.
You repeat this process as each debt is eliminated in a fraction of the time. Absolve the debt, add the minimum balance you’re paying into the rest of your payments until eventually, you’re throwing everything you were paying for all the other debts into one last remaining debt until all of it goes away.
I have companies that let people borrow at 3% and are being credited 11% to their accounts. This is some excellent positive arbitrage.
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When all of the debt is repaid and you become debt-free that much quicker, you are still left with the bank from the policy we created for you.
And that’s now an awesome asset to have.
It’s at that point a nice sum, and the income you draw from it is tax-free.
The entire process is automated, but it needs good data on the front side, which is no problem, it uses the data to know when your personal account has enough to cover and know when to ping you to take out the money to settle the balance owed.
Also, the debt is prioritized to pay off in a certain order that will save you the most money in interest you would have been paying to your lender.
Pretty neat, huh?
Millions are paying off debt of some kind. With loans come interest and we know we wind up paying more over time because of interest. In this method, we are mostly making banks rich.
Credit cards are 18%-29% interest.
Student loans take people decades to repay. This isn’t just for doctors, lawyers, dentists, or specialist education. Many people attend a 4-year university and don’t have a full ride or mom and dad to pay the tuition.
Housing: Many take 30-year mortgages for their family home and pay this off into their 60s and 70s. Well, now I’m telling you about a way to cut that time down drastically and own the house free and clear. What will that feel like?
Why not become your own bank? Pay yourself back. But have something worthwhile at the end of it when you’re all done.
IF you routinely pay more than the minimum balance due, you’re a prime candidate for the Infinite Banking Concept. Hit me up if interested.
Be well,
Chris Kaden
Owner?I?Retirement Income Optimizer?I?Kaden Prosperity Protectors?I?Powered by?FINLine Financial
Proudly serving families in TX, FL, OH, GA, IN, IL, LA, WV, VA, NE, MO, NC
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