I've been following your steps for only two months so far and I'm $2000 less in debt and my credit score is up 50 points ❤🎉😊 it's amazing how fast your credit score goes up when you're doing this
Mine went down over 60 points! So far I've paid off 4 loans since October 2023. Funny how they penalize you for having a high DTI and also penalize you for paying down debt. What a way to manipulate the masses smh
@angelgirldebbiejo Oh, but it did. Across all 3 bureaus. The only thing that changed on my reports was those accounts being closed automatically because they were paid off. I'm still baffled by it. It may happen again though because this spring, I'm on track to paying off 2 more loans. But it's okay, I'm not looking to finance any big purchases in the near future, so I have time to recover.
@@DarknessFalls29when you pay off a loan, your account with the credit bureaus gets marked as closed. One of the things that impacts your score is the average age of credit and when an account is closed the accumulated time on the account is no longer counted in your average age of credit.
@@VanntasticFinances I had all these small balances. One had a balance of $500, the other one $1500, another $2000 and so on. As hard as l tried l just couldn’t pay them off. I was praying to God for wisdom. I have a good income so it didn’t make sense that month to month l was short. After praying for a few days, one of your videos appeared on my feed. I found it interesting, but honestly l was fearful to try it… l ended up watching a lot of your videos and praying about it. I knew l had to let go of my fears (fear that the banks would lower my credit limit and not have access to the funds to pay my bills) l knew that l had to have faith and trust God. I ended up putting all my money on my credit card with the highest balance which happens to be attached to my checking account. I put all the money that came in, in my credit and from there l paid everything. I would schedule my mortgage payment to be drafted from my checking account but the day before l would transfer the money from my credit card to my checking account. . Little by little l paid off two credit cards and today l paid off three. What amazes me is, how quickly it started working for me. I thought it was going to take me years to pay off everything. Now l have an extra $1500 of positive cash flow which it will allow me to continue to pay off my debt even faster. All l can say is: thank you!! 🙏🏼 l am starting to see the light at the end of the tunnel thanks to you. 🤗
It makes more sense to me to simply pay the credit card balances directly with his cash flow, one or two at a time since he has cash flow and leave zero balances. There is no quicker way or smarter way to get out of debt. Then to keep the cards open so his credit score doesn’t go down, he can make small purchases each month to them and pay them in full every billing cycle. The key is he has cash flow. The problem with most people is that they have no cash flow and over extended themselves.
I found your channel last night and so excited to find a solution to my debt problem that is actually in my control. You are amazing. Thank you from the bottom of my heart!
I had to do some logistics with my money because I’m biweekly as well. Rent due at the beginning of the month that takes one whole check. Car loans due at different banks. I put as much income as I can on my credit card and then I will start using it to completely pay one car off in just a few months. It takes a little thinking but it can work.
Let him know about tax penalty forgiveness. We just got approved and got some money back even. We've only owed taxes once though...one thing is you have to have good history with the IRS...but hey its worth checking into. IRS Form 843. You may even qualify just by calling.
It’s taken me some time to grasp this concept. But I’m awaiting approval for my heloc and free myself from debt. Blessings to you and your family. Thanks for sharing your knowledge
Am I understanding that it is better to pay random small amounts towards a credit card during the month rather than larger amounts all at once? Thank you.
My main question is: why does this person have so many credit card (small) debts when they have $1940 cashflow? With that cash flow they can pay off all those cards and affirm in 3 months. Unless those are all 0% or deferred payment and he’s using the cashflow to invest makes no sense to be paying for interest from those debts.
@VANNtastic! I have been watching your demonstrations for several days now. I just got paid and plan to try your strategy for a couple of months. I'm somewhat nervous about this because I'm not good with numbers. My fear is going over my budget and causing more damage. I'm negative $200 with cash flow🤞🙏
Love the Velocity plan, I've been doing it for quite a few months and have payed down my credit card debt. I do have one question though. Instead of being paid bi-monthly I am paid once a month with a pension and SS. Occasionally, those payments come in after the due date for my HELCO. Should I pay HELCO what I owe with my extra cash flow in my checking before my income comes in, and then deduct that amount when I make the monthly transfer to pay the rest of my monthly bills? Not quite sure how to handle this???? I've also thought about checking with my bank to see if I could make my HELCO payments on the first of each month. Both of my income payments are in by then.
I am one of your Buffalo NY people. And I have a Keybank, Boa, 2 Credit union accounts. Neither offers PLOC. I tried Chase and Citizens to no avail. So if some of your Buffalo customers can help. Would greatly be appreciated. Love your channel. Thanks in advance.
He seems to have a lot in cash flow or all of his expenses are not being accounted for $2015 for living expenses seems really low. Why would someone with almost 2k in cash flow have such small balances on credit card. He needs a behavioral change to understand why he has these debts. He needs a budget he can pay all of this off in 4-5 months it’s either poor money management or he’s not fully budgeting his expenses
Well heck! I just found your videos 2 days ago. I am trying to wrap my head around how to figure out my finances with this method. I guess the first step would be to talk to my Banks about a PLOC. But in the meantime, I have a credit card with a fairly high limit, but not that much on it. I didn't think you could use a credit card for Velocity Banking. Is that incorrect?
I’ve been searching for companies that are offering lines of credit but am only finding personal loans. Can you please provide some options for best companies offering these?
Hi Christy! Can velocity banking be done with almost maxed out heloc? Im awaiting final approval of the heloc. The lender is paying my cc’s from my heloc acct because the purpose of the heloc is for debt consolidation. I am kind of scared. Thanks in advance for your thoughts.
I think it makes sense if you have no kids or something. I am going to try it but I dont know if it will work because Im a single parent and my kids are constanly needing cash for sports and what not
Why doesn’t he just pay down the credit cards with the 1964 cash flow until his credit goes up enough to get a line of credit? Then he can work it that way?
Christy, I got approved for a PLOC for $5k @ 17 percent--attached to prime. What do you think of the rate? I hate it, but I wanted your opinion. Thanks 💯 and love 💕 what you do!!!
Persnally, I would. As long as you leave room for emergencies, assuming that that's what you have your savings for. Itll make lowering debt easier and faster and you can build up a savings even faster
@TheMJT515 I felt the same way too but I am so glad they approved me. They told me to call back in 6 to 12 months for a higher limit and lower rate--currently in the teens. Stay encouraged!
Go online to the payment section it should ask for the card number and the cvv code the three digit number on the back of the card type all the card info in and save the card schedule the payment then write down the confirmation number.God bless I hope this helps
I think she has said (in other videos) that if you have a balance transfer offer, to use that. An LOC or PLOC is considered as cash account, possibly, so can be used to pay on credit cards.
If you are paid bi-weekly, then you should align your bills by due date with that paycheck. Ex: paid 15th & 30th of the month, Bill dates 1 - 15 will be paid by the 30th of the previous month. 15 - 30 by the 15th check of the current month. One check a month, place your cash flow (if any) and the expense money on whichever form you are using (CC or LOC) and just set the autopay up to that form for payment.
She said don't close it. Cut it up or freeze them but keep them opening and use at least once a month. Then pay it off in full. Put groceries on one card, gas another and clothes, gifts or misc. On another
I've been following your steps for only two months so far and I'm $2000 less in debt and my credit score is up 50 points ❤🎉😊 it's amazing how fast your credit score goes up when you're doing this
I’ve been following her steps since I started my job in June 2023 and my fico 8 score went up about 100 points. Keep it up!
Mine went down over 60 points! So far I've paid off 4 loans since October 2023. Funny how they penalize you for having a high DTI and also penalize you for paying down debt. What a way to manipulate the masses smh
@angelgirldebbiejo Oh, but it did. Across all 3 bureaus. The only thing that changed on my reports was those accounts being closed automatically because they were paid off. I'm still baffled by it. It may happen again though because this spring, I'm on track to paying off 2 more loans. But it's okay, I'm not looking to finance any big purchases in the near future, so I have time to recover.
@@DarknessFalls29when you pay off a loan, your account with the credit bureaus gets marked as closed. One of the things that impacts your score is the average age of credit and when an account is closed the accumulated time on the account is no longer counted in your average age of credit.
Did you max out all your CC to pay off your debt or only between 10-30% without hurting your CS? Thank you kindly
Thanks to this lady and her teachings....I have paid off my car loan 8 months early! She is great.
@shamblesman WOW! That's awesome! Thanks for sharing!
I have been following your advice and so far (in just under 3 months ) l have paid off 5 credit cards.
@marinab.8590 WOW! Thank you so much for sharing!
@@VanntasticFinances I had all these small balances. One had a balance of $500, the other one $1500, another $2000 and so on. As hard as l tried l just couldn’t pay them off. I was praying to God for wisdom. I have a good income so it didn’t make sense that month to month l was short. After praying for a few days, one of your videos appeared on my feed. I found it interesting, but honestly l was fearful to try it… l ended up watching a lot of your videos and praying about it. I knew l had to let go of my fears (fear that the banks would lower my credit limit and not have access to the funds to pay my bills) l knew that l had to have faith and trust God. I ended up putting all my money on my credit card with the highest balance which happens to be attached to my checking account. I put all the money that came in, in my credit and from there l paid everything. I would schedule my mortgage payment to be drafted from my checking account but the day before l would transfer the money from my credit card to my checking account. . Little by little l paid off two credit cards and today l paid off three. What amazes me is, how quickly it started working for me. I thought it was going to take me years to pay off everything. Now l have an extra $1500 of positive cash flow which it will allow me to continue to pay off my debt even faster. All l can say is: thank you!! 🙏🏼 l am starting to see the light at the end of the tunnel thanks to you. 🤗
You gave me peace of mind as i pay off 2 cards, much more manageable now. Living within my means and being smart....finally
I’ve laid off 3 of 7 credit cards following the steps you’ve provided in your videos. Thanks.
Lady “ the savior “ debt $$$
I found you by accident. I have accomplished lots of remarkable debt pay off. Thank you 🙏🏽
Blessings.
It makes more sense to me to simply pay the credit card balances directly with his cash flow, one or two at a time since he has cash flow and leave zero balances. There is no quicker way or smarter way to get out of debt. Then to keep the cards open so his credit score doesn’t go down, he can make small purchases each month to them and pay them in full every billing cycle.
The key is he has cash flow. The problem with most people is that they have no cash flow and over extended themselves.
Yes, especially those small balances. He should snowball those.
First time seeing a bi-weekly scenario.......clear, through and to the point! Excellent! #reducedebt
I found your channel last night and so excited to find a solution to my debt problem that is actually in my control. You are amazing. Thank you from the bottom of my heart!
@user-gc6bp4dd6x SO HAPPY FOR YOU!!!! Thanks for watching!
I had to do some logistics with my money because I’m biweekly as well. Rent due at the beginning of the month that takes one whole check. Car loans due at different banks. I put as much income as I can on my credit card and then I will start using it to completely pay one car off in just a few months. It takes a little thinking but it can work.
I wish my rent was only 850!
I was just looking at that at the beginning of the video I said where does he live😂
Great Example!! This is similar to my situation.
I had trouble gaining access to your free finance spreadsheet. Great video. I am binge watching.
Great info, as usual!
You’re amazing.
Let him know about tax penalty forgiveness. We just got approved and got some money back even. We've only owed taxes once though...one thing is you have to have good history with the IRS...but hey its worth checking into. IRS Form 843. You may even qualify just by calling.
It’s taken me some time to grasp this concept. But I’m awaiting approval for my heloc and free myself from debt. Blessings to you and your family. Thanks for sharing your knowledge
take cash flow and get a shared secured loan for his line of credit
Thank you I am still sharing with others I am learning how to calculate interest by watching different videos.😇
Thank you are really motivating me to pay down these CC
Am I understanding that it is better to pay random small amounts towards a credit card during the month rather than larger amounts all at once? Thank you.
My main question is: why does this person have so many credit card (small) debts when they have $1940 cashflow? With that cash flow they can pay off all those cards and affirm in 3 months. Unless those are all 0% or deferred payment and he’s using the cashflow to invest makes no sense to be paying for interest from those debts.
@SuperFS11 All day long…
@VANNtastic! I have been watching your demonstrations for several days now. I just got paid and plan to try your strategy for a couple of months. I'm somewhat nervous about this because I'm not good with numbers. My fear is going over my budget and causing more damage. I'm negative $200 with cash flow🤞🙏
Track your expenses
I like watching the videos, so I can point out all the flaws in the accounting of moneys.
you need to create a class for dummies. a workbook sort of thing
Love the Velocity plan, I've been doing it for quite a few months and have payed down my credit card debt. I do have one question though. Instead of being paid bi-monthly I am paid once a month with a pension and SS. Occasionally, those payments come in after the due date for my HELCO. Should I pay HELCO what I owe with my extra cash flow in my checking before my income comes in, and then deduct that amount when I make the monthly transfer to pay the rest of my monthly bills? Not quite sure how to handle this???? I've also thought about checking with my bank to see if I could make my HELCO payments on the first of each month. Both of my income payments are in by then.
Hi! Can you do a video on how to pay off CLOSED credit cards?
I would appreciate that as well.
Are you still doing the “where do I start email? I downloaded the expense worksheets and looked through your website but didn’t it see it.
I like to watch these and i can pretty well follow the math but this particular example is a bit confusing. Where did the 1165 come from?
I was checking the comments to see if I was the only trying to figure out where the 1165 came from 😂. It is the monthly living expenses minus rent.
God bless you Christy! (Not sure if that’s the correct spelling of you name) thank you for sharing with us. We need you!
That’s my name! Thank you!
Hi,
So you put your entire check into the LOC? Minus mortgage payment?
I would love to know where to start -
Paid once a month
Only one credit card with a balance
Small brand new PLOC haven’t even started using yet.
Yes, w when I got a new vehicle after a car wreck. They insisted I get $1000 ploc
I’ve actually been doing this for years without even realizing it 😅
I am one of your Buffalo NY people. And I have a Keybank, Boa, 2 Credit union accounts. Neither offers PLOC. I tried Chase and Citizens to no avail. So if some of your Buffalo customers can help. Would greatly be appreciated.
Love your channel.
Thanks in advance.
Any credit cards? She has a video on CCs and low income or no cash flow
He seems to have a lot in cash flow or all of his expenses are not being accounted for $2015 for living expenses seems really low. Why would someone with almost 2k in cash flow have such small balances on credit card. He needs a behavioral change to understand why he has these debts. He needs a budget he can pay all of this off in 4-5 months it’s either poor money management or he’s not fully budgeting his expenses
Hi @Vanntastic I have 4 credit cards a mortgage, and a home equity loan and a regular loan. And two vehicle loans. How do I start your plan?
Hi Christy! Can you do a worksheet on me?
I’m sorta in this situation with less credit cards but I still found it difficult to follow.
Well heck! I just found your videos 2 days ago. I am trying to wrap my head around how to figure out my finances with this method. I guess the first step would be to talk to my Banks about a PLOC. But in the meantime, I have a credit card with a fairly high limit, but not that much on it. I didn't think you could use a credit card for Velocity Banking. Is that incorrect?
Search her videos. She has one with Only CCs
The only bad thing about the paying everything off early is it hurts your credit
I’ve been searching for companies that are offering lines of credit but am only finding personal loans. Can you please provide some options for best companies offering these?
Hi Christy! Can velocity banking be done with almost maxed out heloc? Im awaiting final approval of the heloc. The lender is paying my cc’s from my heloc acct because the purpose of the heloc is for debt consolidation. I am kind of scared. Thanks in advance for your thoughts.
@Jesus-kt5dc - Thank you so much for the info. Appreciate it.
I think it makes sense if you have no kids or something. I am going to try it but I dont know if it will work because Im a single parent and my kids are constanly needing cash for sports and what not
Why doesn’t he just pay down the credit cards with the 1964 cash flow until his credit goes up enough to get a line of credit? Then he can work it that way?
I save $900 a month. But now I’m thinking I need to use that to pay off my car. It only has a $10k balance
Christy, I got approved for a PLOC for $5k @ 17 percent--attached to prime. What do you think of the rate? I hate it, but I wanted your opinion. Thanks 💯 and love 💕 what you do!!!
@Jesus-kt5dc Food for thought--and intriguing!--thanks; but I still want to hear from Christy. I hope she answers.
I have a son that is so confused but could be doing all this. Would it be wise to pay someone to help him?
How can you pay a credit card payment or car loan with a credit card?
Does this help people in canada too or just usa?
Merci
On a velocity banking concept debt payment with a PLC, being paid bimonthly how do I organize all my payments date wise?
Should we put all of our savings in the PLOC?
Persnally, I would. As long as you leave room for emergencies, assuming that that's what you have your savings for. Itll make lowering debt easier and faster and you can build up a savings even faster
I just got approved for a PLOC but it's less than I wanted but it's a start.
@TheMJT515 I felt the same way too but I am so glad they approved me. They told me to call back in 6 to 12 months for a higher limit and lower rate--currently in the teens. Stay encouraged!
How can I contact you
How can you use a cc to pay a cc bill ???!!!
I use PayPal transfers. There is a fee but I get cash back rewards to help offset the cost.
Go online to the payment section it should ask for the card number and the cvv code the three digit number on the back of the card type all the card info in and save the card schedule the payment then write down the confirmation number.God bless I hope this helps
Also there should be no charge as long as it's not a check free pay
I think she has said (in other videos) that if you have a balance transfer offer, to use that. An LOC or PLOC is considered as cash account, possibly, so can be used to pay on credit cards.
Does it matter about lining the due dates and closing dates up when you put money from yor income to the credit cards??
@lagrant3914 I never did worry about dates as long as I met their required payment by the due date.
@@VanntasticFinances ok cool... how did it affect your credit when you did it like that?
Thanks
@@lagrant3914 Well...I'm in the best shape ever, so what do you think?
If you are paid bi-weekly, then you should align your bills by due date with that paycheck. Ex: paid 15th & 30th of the month, Bill dates 1 - 15 will be paid by the 30th of the previous month. 15 - 30 by the 15th check of the current month. One check a month, place your cash flow (if any) and the expense money on whichever form you are using (CC or LOC) and just set the autopay up to that form for payment.
How much is a consultation?
VANNtasticfinances.com under services
*** When you pay off ur card should u close it ??****
She said don't close it. Cut it up or freeze them but keep them opening and use at least once a month. Then pay it off in full. Put groceries on one card, gas another and clothes, gifts or misc. On another
Should we close the PLOC when we are completely done paying the debt down?
@Jesus-kt5dcfacts
WOW
👍
🦉
You don't think he has a lot of debt?! Yikes. He has 11 different debts!
Don't take out loans, if you do, make more payments than the minimum...everything else in this series is snake oil
Hi Christy thanks for all you do and I need your help how can I contact you I don’t know where to begin please let me know God bless you.
$5,114 a month Jesus how in the Hell do you live off of that?
Hi @Vanntastic I have 4 credit cards a mortgage, and a home equity loan and a regular loan. And two vehicle loans. How do I start your plan?