How To Pay Off $73,000 Of Debt In 15 Months!!

By | January 28, 2020

hello everyone how you doing today god
bless you let me just start off like that god bless you for being a
contributor to the channel to a loyal subscriber tuning in almost every day as
I drop a fresh video on velocity banking or a lesson you know or something that I
know will impact at least one person a day every day that’s all I did
I’m telling you I’m so satisfied I’m so happy that I get to do this I have the
privilege and honor to serve you so today we’re serving another woman
wonderful beautiful lady working 17 years in the nursing industry she
decided to make a commitment even before we spoke this is amazing she trusts me
from the very beginning and and I don’t want to lose that trust so I’m going to
honor my services I’m going to make sure that when this is all said and done she
can turn to her partner and say hey it’s finished it is finished it’s done right
so I need you to write down so numbers I want you to take some notes because
obviously as you can see even though with this big board you know a lot of
debt okay a lot of numbers we’re gonna go step by step take it easy
relax let me give you the numbers let me give you the details all right income
six thousand five hundred a month expenses current before we start on
velocity banking are six thousand twenty eight dollars eighty four cents total
debt before we start on velocity banking 460 thousand two hundred forty five
dollars current cash flow four hundred and seventy dollars okay jot those
numbers down whenever I look at a situation when you’re looking at your
person finances you need to know these numbers
left/right up/down outer inner you need to know them get them down then what you
need to do is how can we acquire our debt tool whether it be a line of
credit a line of credit oh or a HELOC home equity line of credit or a credit
card a credit card either or we find the best one that fits you and your needs
and your wants and your desires and your goals okay every case is unique do not
try to copy because you’ll make a mistake which is why you need an
accountability partner to help you along the way
all right time focus attention detail finite character that’s what I bring to
you all right that’s what I’m gonna do for this lovely woman period so we got
our line of credit line of credit personal line of credit P LOC or LOC got
it calculated simple for $20,000 at 9.8% don’t tell me that there’s no credit
unions in your area that offers lines of credit because that is false you know
what I’d like for all my viewers especially my contributors who have
unsecured lines of credits or helix I would love for you you don’t have to put
your name or but I would love for you to comment the type of debt weapon you have
whether it’s a HELOC credit card personal line of credit business line of
credit okay the state or city that you got it from the name of the bank or the
credit union or the institution I think this will be so valuable for other
people who are struggling trying to find that that right debt tool so please my
loyal subscribers and contributors comment
state credit union right or if you want to give a little list in your state
you’re like look I went to this one this one this one they all offered lines of
credit but this one was the one I like most do that for me I man I would love
that so line of credit twenty thousand nine
point eight percent our first chunk amount that her and I got together and
agreed on is nine thousand eight hundred dollars towards specific debts when I do
this my cash flow is going to increase okay
to six hundred and twenty five dollars okay and she like I said she’s a Tier
three contributor so she is sacrificing some of her cash flow to not only help
me grow as a man but to continue to serve more families and she made a
commitment she was like six months oh okay so I thought I’m gonna factor in no
sick so in six months the Tier three contribution which is 147 a month
that’ll drop off after six months and that’ll boost her cash flow now lets you
know exactly when that occurs okay so 625 would be the new cash flow therefore
our expenses are down from the 6028 down to about five thousand 873 eighty four
so we made a chunk in November right between November and December right
we’re gonna get paid and make that income month one starting out what does
it do i owe 9895 i’m at 33 expenses come out okay it puts me out of balance of
nine thousand 173 eighty four you see the change the difference is the cash
flow okay next month boom I get money brings the
balance down expenses come out boom my balance do it again 6500 okay brings
the balance down expenses come out brings the balance up again you see that
very important how the number is dropping quickly quickly all right very
important number drops okay income again spent balance goes down
come over here expenses come back up all right
here’s our balanced income month five now we’re real low on the balance cool
cool I like it my expenses come out up we’re right near our income right there
month six here we go month six that she you know cuts off the Tier three or
whether she drops the price or but I I did it for this scenario I just said
that you know 147 goes back into her cash flow right so look at look what
happened to the expense less is coming out of the line of credit okay which is
gonna bring my cash flow a little bit higher than the 625 all right here we go
balance from the 169 20 all right add the expenses here’s the balance next
time comes income already look this is where I never lose cash flow in the
process of doing velocity banking this 5896 balance owed on line of credit my
$6,500 income right I can’t put it all in right can’t put it all in at once so
I’m you know I what I’m getting paid bi-weekly however works get that money
in there all right the difference is cash flow 603 and you know what six
months of doing velocity banking at 9.8 that some of this would have gone
towards interest okay but the fact that we chunk 98 towards other debts to save
money on a lot of interests you get this offsetting effect via your cash flow Oh
got me okay balance comes down to zero or a month
seven expenses come out again but see here’s the thing whenever we zero out a
line of credit we have the ability especially when our income is a little
bit higher for my people that have higher incomes I’m gonna start doing
examples where I get real slick you have to watch it ready even though after
month seven we zero out the line of credit right and expenses come out right
we’re only gonna oh what we use for expenses right but seeing this time
period if we’re real slick what we can do is we we evaluate the next the next
debts of the whole four hundred and sixty thousand that we have right so so
far we eliminated ninety eight hundred of debt all right got our cash flow a
little bit higher okay now if I took seven thousand four hundred dollars more
out of the line of credit plus the expenses that have to come out it’s
gonna bring the balance to about thirteen thousand one 2684 okay let me
know your thoughts on this all right income goes in right brings the balance
down to sixty six two six eight four but look what happens to my expenses after
making that chunk okay cash flow goes up to seventy alright we made a chunk
towards three other debts that we were paying 9099 beyond okay total of 270
that comes back into the cash flow okay so it lowers my expense here from the
57:26 now we’re at fifty four five six this is conservative all right balance
twelve thousand all right see the difference between the
thirteen twelve okay we’re still we’re still coming in ready now come over here
and come again sixty-five hundred brings the balance
down expenses fifty four five six eight four all right
expenses coming out eleven thousand is the balance boom
so it’s kind of dropping almost like about a thousand each time that’s about
our cash flow right pretty close do it again
balance expenses balanced income balance expenses balance get that income goes in
expenses come out what’s left over is your balance and you do it again and I
got uh I got okay where we got sixty five hundred boom going in balance
expenses balance oh we’re getting closer and my markers
dying no good so let’s see where we’re at month twelve which I think I might
have made a mistake because you see how it says income eight here and then
income eight there what am i doing alright so just add an extra month we’re
probably out like it’s probably 13 months so this 12 is actually 13 so just
add another month sorry alright we’ll be all right there
balance balance 6500 okay we’re coming lower now
getting real low we’re getting back to that income matching the balance owed
okay do it one more time get it all the way to zero okay as soon as i zoom out
that line of credit technically by month 15 speaking all right now expenses have
to come out right notice how the number dropped from fifty
four five six two fifty eighty four eighty four why because I made a chunk
here and a chunk here so I’m making a $8,500 chunk towards a specific debt she
knows which one it is and the 1642 chunk boom brings the balance it’s a fifteen
thousand to six to twenty six eighty four okay now whether it’s when I zero
out the line of credit right or a little bit before whether it’s me or the credit
union somebody is gonna give this lady more credit lines there she’s either
gonna get offers in the mail to open up more credit lines or we can just be
smart and just say alright give me twenty five thousand all right what a
twenty five thousand dollar line of credit that increases my chunk
capability all right and it increases my chunk capability meaning the amount of
money that I can chunk towards any specific debt all right and what I want
to do is hold off right here for this lady right so so we’re gonna going to be
right here we we follow the same system we’re just dumping the income less and
less expenses coming out more and more cash flow staying in what I want to do
is analyze the results we got in a 1415 month period cuz it
looks like I like I said it looks like I made a mistake right in eight and then
eight up there probably got a little confused but let’s say in a 15-month
period right I paid seventy three thousand five
hundred and five dollars and seventy six cents my friend that is how we pay
seventy three thousand five hundred five dollars seventy six cents doing velocity
although by engane okay that’s how much debt we paid in a 15 month period
all right four hundred and sixty thousand divided by seventy three
thousand five oh five seven six boom six point two six years or less you know
how I always say or less why because this whole time over a 15 month period I
did not factor in her getting a race she works she has a a solid career you don’t
think she’s gonna get a race between now and 15 months all right is it gonna be a
2% raise a 4% 5% a bonus right what what is it I don’t know all right remember
just getting a dollar race just a dollar shaves like six months off your timeline
this is amazing it’s incredible when we when we keep flipping the money alright
so she’ll be debt-free in six years or less okay and this is how we started out
with an income of that with a debt of that with a cash flow of this in 15
months by her investing in herself right contributing to this channel being
a blessing and giving she went from here to here in 15 months she didn’t start a
business and sell no product no service didn’t have to call people do you know
what entrepreneurs do okay like if that’s not her desire it’s not her
desire right not everyone is gonna start a business and make millions of dollars
it’s just not gonna happen you need you need a workforce okay the whole point is
velocity banking really gives that level playing field for everyone to be able to
at least prosper at any level right what is that level for you of being
prosperous generous having the lifestyle you want
giving what’s that level let’s discuss it together let’s have a conversation
my name is Denzel I hope you enjoyed this in-depth scenario let me know if
you have any other questions shout out to the wonderful woman here making
commitment helping other families receive this data this knowledge and
apply it into their life thank you so much love you very much I love you guys
have a wonderful day

100 thoughts on “How To Pay Off $73,000 Of Debt In 15 Months!!

  1. A E Campbell Post author

    Quick question. In this scenario, if this client needed to makya large purchase of some sort, would she just use the line of credit? Where would that be inserted? I love your channel and examples btw. I feel like my understanding has grown except for when emergencies arise. Thanks Denzel.

  2. Denzel Napoleon Rodriguez Post author

    South Florida
    BrightStar Credit Union
    South Florida Educational Credit Union
    South Florida Credit Union
    Tropical Financial Credit Union
    South Atlantic Federal Credit Union

  3. Angelo Taylor Post author

    Hi Denzel, 20k  CC (18%) and 10k CLOC (11%) (Checking Line of Credit) and I have this with Navy fed Credit Union… and I'm currently in Cali.  What about the shirts??? where can your followers buy some???

  4. David Reeves Post author

    Denzel when you put in your chunk you now have another payment on the Debt Weapon that you borrowed from. How do you factor this in? Also you are paying interest on the loan so it will go up some every month does this push out the payoff time?

  5. Cire swagger Post author

    I have 2 personal lines of credit in Syracuse, NY. I have one at SEFCU @ 11.9% for $19k and another at ACMGFCU @ 7.9% for $5k.

  6. Health b4 Wealth Post author

    J. Lewis in New Jersey it started at 10% now its 10.25% Unsecured Line of credit for $20,000 from TD Bank✊🏾💯

  7. Mrs. Niquanna Robinson-Garner Post author

    Ga: P.L.O.C 15k @9.49%.
    Georgia United Credit Union

  8. Kimberly Williams Post author

    Alabama, Ploc @ $7500 10% – America's First Credit Union. Other institutions that offers Plocs in the state is, Avaidian credit union, ECO teachers credit union, and Regions Bank. Hope this helps!

  9. Junior Amaru Xi Grant Post author

    Chartway credit union, American airlines credit union… Houston Tx 10%

  10. Fredys Castro Post author

    Columbia, SC…State Credit Union or SCU
    PLOC for 10k at 10.65%.
    Great video Denz!!

  11. Jume Prak Post author

    Fantastic…..Thank you Denzel, keep on doing what you’re doing!!!
    LOC from Sound credit union in Washington state $20.000. Int . 9.8%.

  12. Alex M Post author

    Indianapolis Indiana.
    Forum credit union 13k 8%
    Discover card 14k
    12 months 0%
    18 months 5%

  13. Fabrice Steve Post author

    I have L.O.C for 5K with Credit Union in Wisconsin at 10.1%

  14. albuterol71 Post author

    Anyone from central Florida doing this? I’d love to meet up and discuss! Lunch is on me! 😁

  15. Jody Dennis Post author

    I have a $30k HELOC with Wells Fargo…variable rate @ 5.35%

  16. Nam Hamada Post author

    Denzel, I have 23k of credit card balance I afraid the bank will not offer me of personal line of credit.

  17. Cedric Payne Post author

    Hello, I'm missing the math. You said she paid off $73505. But I only see chunks of $9800 + $7400 + $8500 + $1642. This totals $27342. Where does the rest come from? What am I missing?

  18. Stephen Temple Post author

    Missouri – US Bank Offers HELOC's and PLOC's; Regions Bank also offers both.

  19. BLACK_MAN_FREE_THINKER Post author

    I live in Georgia but I obtained a HELOC on my house for the full amount owed on my house 255k at 4.1%!

  20. Renae Ethengain Post author

    I don’t see where you are accounting for the interest you pay for the line of credit. What am I missing?

  21. Renae Ethengain Post author

    Does this work for mortgage debt only with 13 yrs left on a 15 year mortgage?

  22. TODD EBERLEIN Post author

    I would definitely say that this is starting to sink into my memory bank as well. Been watching your videos and really thinking about doing this. Here’s a legit question for you or situation for you.

    “I am a full-time Firefighter Paramedic in Indianapolis with a decent income.”

    I put around $1650 a month into a 457 (we aren’t allowed a employer sponsored 401 in Indiana due to working for local govt).

    Take home is around 1800 after everything is out, paid bi-weekly on Fridays. So $3600 total.

    Have a $1010 Mortgage and a $800 car note as my big expenses. Would like to vaporize this car note quicker. Only had it a year started @51,600 and now it’s 39,426 (2.69%).

    Where do I start and get the train rolling? Tired of seeing my money fly away to establishments.

  23. Levi Harley Post author

    Hello friend
    Jax FL
    Loc 15k…15.9%
    Cc 1 15k…14.24%
    Cc2. 10k…16.99%
    All from same bank

  24. G-Boi Post author

    Hey Denzel, In Miami S.F.E.F.C.U has LOC which I posses. This is a very good bank!

  25. Rares Popescu Post author

    73,503.76???? ….you have 3 chunk.. Can u explain more precise this

  26. adrian quezada Post author

    im learning a lot from u thanks very valuable video

  27. AlilTussin Post author

    Lancaster California. I found 2 so far.
    Northrup Federal Credit Union max 45k LOC Variable rate starting at 9.75% going up of course. And a fixed starting at 16%.

    The one I'm going with and like is Edwards Federal credit Union. 25k max LOC. 11.99% and up(depends on your credit). They also have a Credit Card that offers no annual fee, no cash advance fees, no balance transfer fees, and 25 day grace period.

    So if you can't get an LOC right away, I would definitely try out that CC!!! Thanks for the great content Denzel. Keep it up as you are changing lives!!!!

  28. Tim Seitz Post author

    I have found that banks dont give you a credit card to use as your day to day way to make purchases (LOC). If using a LOC as your debt weapon how do you use your LOC as your primary way of making purchases if you dont get a credit card?

  29. 65ebmust Post author

    73000? Is that the amount that was chunk out plus the amount of loan paid back??

  30. Martin from Sea City Post author

    I see 17,200$ in chunk debt reduction. You need to set this up on an excel spreadsheet so you
    can keep better track. Good expense reduction and cash flow growth with use of a LOC

  31. Jason Ruperto Post author

    Denzel, I have 4 investment properties. Using VB, I project it will take me 8 months to eliminate my CC and car note. Shall I target just one property mortgage at a time with chunk payments? If so, which one first? Lowest APR or balance?

  32. Reversion to the mean Post author

    Cash flowow. I love it, LMAO. I am enjoying watching the vids. Pretty intriguing stuff

  33. Kokoa Cloud Post author

    Charlotte NC. Charlotte Metro Credit Union. CC and PLOC.

  34. chris raven Post author

    HELOC. Chicago BMO Harris Bank. 6.125% and I also got a checking account opened up

  35. ceedawg Post author

    Bethpage CU in NY and NJ offer PLOC unsecured @ 11% must have credit rating of 770 plus .Lower than 770 will be 12 plus percent.

  36. Leah Hernaez Post author

    Hi Denzel! Just got my LOC today! I called total of 5 banks that included credit unions and this was the ONLY Bank that fit the criteria you recommended to get.

    -Las Vegas, Nevada
    -Silver State Schools Credit Union

  37. TheChicago35 Post author

    Atlanta, GA- Associated Credit Union- Line of Credit 18% $15,000 max no fees, unlimited time period-simple daily interest-revolving

  38. elsie rodriguez Post author

    Thank you for this video I learned a lot that I didn't know. God bless you for sharing your knowledge on this subject.

  39. Michael Davis Post author

    Wait. @ 7:46… Why did "$147" go BACK into her cashflow?

  40. Joseph Bianchimano Post author

    denzel i have a HELOC for 175,000 limit ,i owe a balance of 155,000 on this Heloc at 5.5% with wells fargo , i consolidated 4 debts 1 was a rehab on another property that is paid off and cash flowing i also have a credit card 0 balance with a 18,000 limit i have another property with a 124,700 balance its rented very little cash flow & i have another house 69.000 balance 7200 total income in . . about 3000 out . would you use the 20% credit card or the heloc ? any advise . i can hire you [email protected]

  41. Ashley Basyooni Post author

    I was just approved for a Line of credit with a interest of 16.5% Should I just decline? Thank you!

  42. Reesy1981 Post author

    McCoy Federal Credit union. P.L.O.C. 10.25% Orlando FL.

    (APR depend on credit score and range from 10.5 to 18%)

  43. vascularlab Post author

    I really enjoy your videos on velocity banking. The examples you show make it easy to understand.

  44. Arnaldo Negron Post author

    Dios Te Bendiga mi hermano from another mother!…great examples… Proverbs 22:7 (NIV), “The rich rule over the poor, and the borrower is slave to the lender.”

  45. Francisco Perales Post author

    HI Denzel is it a good idea to get credit cards to pay out debt using velocity banking

  46. Fanny Echavarria Post author

    I had the pleasure of having a phone conversation with Denzel. He was so professional at his young age. He called me two minutes prior to the time scheduled and listed to all my concerns. He is so knowledgeable and was able to answer all my questions. I was so pleased to talk to him and reinforce so many things I have been learning watching his videos. He is very down to earth and made me feel so comfortable for the entire hour of hour meeting.

    God bless you Denzel. Keep it up.

  47. Homer Buckingham Post author

    This doesn't add up! 73,505 / 15 months is 4,900! Her cash flow would have to be 4900/ mo to pay that much debt off in 15 month. What am I missing?

  48. Curt Koeppe Post author


    I don't follow how you say that you helped the person pay off $73,000 in debt in 15 months. Seems to me that the only amount paid off were the initial chunk amounts of $9,800 and $7,400 = $17,200.

    Curt Koeppe

  49. Sylvana A Serrano Post author

    Hello. I am a single mother. I am trying to figure this out. I want to pay off my student loans and mortgage but I don't have much cash flow, it is only $525. How do I use this math calulation for my numbers?

  50. Sylvana A Serrano Post author

    New York Sefcu had a line of credit. $15,000 for 11 percent.

  51. Trinidad Salazar Post author

    iI cant thank you enough for showing me this system on how to pay off my debts. You are awesome!!!

  52. FName LName Post author

    Can’t believe people are falling for this scam!! There is no such thing as amortized interest! Amortization is simply gradual reduction of debt. If you pay the same amount towards your loan as you would towards the LOC, you will be finished with the loan in the same amount of time with no interest paid towards the LOC. The only reason to get the LOC would be easy access to funds in case of emergency since you will be paying your cash flow towards the debt. Stop getting fooled people, do your own math!!!

  53. Blackjack Shooter Post author

    Thank you so much for your knowledge. Knowledge is powerful. I can’t wait to start my Velocity Banking. If I pay rent with cash, how would I pay for my rent with my Personal Line of Credit? Thanks in advance.

  54. Cesar Sanchez Post author

    This is a real interesting concept. Ive never heard of it but from what I've seen it looks great!.

  55. Marty Trujillo Post author

    God bless you Denzel!!! You are a champ!!!

  56. Marty Trujillo Post author

    Unsecured line Wells Fargo 10 percent Colorado!!

  57. Happy Pinatas Post author

    Any suggestions for LOC’s in Chicago?

  58. Nicolette Alger Post author

    Is there a calculator or a way to plug in my income, expenses, cashflow and debt amount and interest rates to determine my time frames/when my debt will be paid off?

  59. Von D. Post author

    After viewing a few of Denzel's videos, I was able to call my credit union "TODAY" and was approved over the phone…Baxter Credit Union, Florida $15K 9% PLOC Denzel you are a blessing!!!

  60. deadlymerlin Post author

    When figuring the expenses are you also adding in the monthly payment that she has to pay for having the ploc

  61. Chris Carvalho Post author

    Great video! I’ve been lowering my expenses, increasing my investment ROI, and I’m living off my investments while saving 100% of my income! 😁👌

  62. Stacey Nelson Post author

    Heaven sent Denzel. Answer to my prayers. Can't wait to meet with you in consultation! Stacey

  63. TheDopalgangr Post author

    Hopefully she will be debt free. The problem with all these videos and debt tactics is the human factor. Like Christmas presents, new cars, or acquiring any additional debts. This takes extreme discipline and no vacations (not to mention a strong relationship with your spouse to follow as well). Good luck to all who can do it.

  64. Lori Thoelke Post author

    FL vystar credit union HELOC 25K 5.75%

  65. Aaron Hernandez Post author

    stumbled upon this and never heard of this. How much are your services and what’s going on? Lol

  66. arnell carmichael Post author

    Navy Federal Credit Union (online banking) Checking Line of Credit (CLOC) – linked to a checking account. 15k @ 13.9%. Thanks for all you do, brother!

  67. Ramiro Martinez Post author

    I got a $20,000 credit limit on a credit card with a fixed rate of 6% at Security Service Federal Credit Union out of San Antonio Texas but I live in Harlingen and I intend on using velocity banking with that credit card

  68. Michelle LaTouche Post author

    Hi, are the sum of all the chunks suppose to equal $73k?  Sorry I am not understanding this part.

  69. Carlos Andrade Post author

    California – San Diego/Temecula
    California Coast Credit Union
    PLOC – 12k @ 14.5%

  70. 1snapbean Post author

    Raleigh, NC HELOC Coastal Federal Credit Credit Union variable rate. Currently at 9.25

  71. Katie Post author

    Denzel, love you! Thanks for your videos!! We send people to your channel all the time. We're interested in learning more about the life insurance…. anyway, in central KY we use Commonwealth Credit Union. They have been great for our personal line of credit.

  72. hotglasschick Post author

    Navy Federal Credit Union offers lines of credit.

  73. Richard Cranium Post author

    Sounds good But!!!!!! Unless i missed something please show me where you paid off 73,000 in debt…
    from what i can see you did 4 chuncks 9800, 7400 , 8,500 & 1,640…. My math says that is no way near 73,000….. please explain…..

  74. J Patt Post author

    How do you pay 73k in 15 months even if you started with ending cash flow of 1400$ that is impossible 🤷‍♂️

  75. Eduardo Correa Post author

    Denzel I would like you to do an scenario in my case that the expenses are almost equal than my cash flow

  76. Stephane Gauthier Post author

    It seems you are paying off 17,2k $ (2 chunks of 9,8k and 7,4k) in 15 months, and not 73k, which is not bad, but so far from the 73k. Is there something that I am missing? Thus it would take more like 27 years to pay the full 460, and not 6 years. Hopefully I am wrong…

  77. mailman4leto Post author

    Don't be fooled. Velocity banking will screw up your finances. Dave Ramsey has a much simpler and proven way to pay off debt. You will always accrue added interest charges doing velocity method. Something he rarely talks about. DEBT SNOWBALL > VELOCITY . BuyerBeware! Bad Advice!

  78. The Little Ramos's Post author

    This might help someone..


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