Summary:
Looking to rid yourself of your debt? If so, you don’t want to miss this episode. Adam Carroll’s business implements what he calls “The Shred Method” in order to get people out of debt in 3-5 years. This is done through home equity lines of credit that move in tandem with where rates are going. Using a special software, the algorithm adapts to someone’s specific income, equity, and debt, and allocates money accordingly. Tune in for more information on The Shred Method and tips on how to re-think your debt.

Highlights:
-Adam uses what he called “The Shred Method,” or home equity lines of credit
-The line of credit moves in tandem with where rates are going
-By next summer, we could see 8% mortgage rates
-Income begins to cycle through the HELOC
-Interest is charged on the ending daily balance
-The Shred Method involves working with a coach because everyone has a certain risk profile
-Adam’s team likes to analyze income, equity, and the consistency/predictability of these things
-You can save a large amount of money in interest, and earn back more of your income
-Local banks/credit union are still open to doing lines of credit
-There’s little risk involved if you follow the model closely
-We’re finding the normalization point in the curve
-Shred is a behavior modification tool—constant reminders of what to do and when

Useful Links:
Financial Survival Network
The Shred Method