FastDebtPaydown
DIY Do it Yourself
Beat your debt.
Use our free debt calculator to see how fast your debt can shrink
Did you think it would take years to pay your debt?
The banks don’t want you to know that there is a faster way to pay down your mortgage and your debt. A Line of Credit is a useful tool for this, but it could also be done with a credit card if necessary.
I created an app to help my children see how a lump payment could reduce the interest they have to pay. So I made this free website to share with everyone who likes common sense.
by Lahaska Studio
How it Works
Educational website
Basically this is how it works:
- Deposit your paycheck/income into your Line Of Credit
- Pay your bills out of this account
- Check this account each month to see the level of your credit available. If there is room you can transfer a bill or credit card or part of a bill to this account
Understand how the banks work. They calculate your interest in that account on a daily basis. When you pay that down each paycheck, this lowers your interest. If you can’t see it, then watch this lady’s free videos below.
What do the Banks Want?
Banks want you to stick to their 30 year payment plans (a mortgage amortization schedule) so they can pocket lots of interest with those payments.
Tools
What tools do you need? If you own your own home, then use a personal loan, Line Of Credit or a HELOC. Some people even use a loan against their Whole Life Insurance. You can use a credit card, it is not the best answer, but it can be done.
Is It Possible?
Input your income, expenses, and debts into our tool. Then apply an amount of money to see how rapidly your debt can go down with a large lump payment applied to your debt.
“This is for educational purposes only — not financial advice — but it’s a great way to see your options clearly.”
Best kept secret
You are not poor- you are getting robbed!
You can do this yourself
Income doesn’t matter
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