How Kristian Climbed Out From High-Interest Credit Card Debt

Like so many others, California homeowner Kristian found himself saddled with an overwhelming amount of credit card debt, and was searching for a way to get rid of it without much luck.

“It's just been killing me. Thought I could get out of it. I was doing balance transfers to 0% offers,” he explained. “But then those caught up with me, and my business income didn't come in as quickly as I thought. And so it just kept building up over time and this is the worst thing to get into…high-interest credit card debt.”

Paying off debt wasn’t the only goal he was hoping to accomplish with a financing solution.

“My son is in college so…he needs help with college tuition and, and then thirdly, I needed some cash for earnest deposits for a real estate deal that I'm working on.”

As he explored his options, did his homework, and ran into roadblocks with more traditional solutions for accessing home equity, Kristian was intrigued by Hometap’s unique and flexible qualification criteria.

“I didn't qualify for a debt consolidation loan. I didn't qualify for a home equity loan and I didn't qualify for a home equity line of credit, but I have tons of equity in my house…since I'm self-employed, my revenue is not considered income…so Hometap was an interesting option. There were other companies similar to Hometap, I investigated though. They're all a little different. But what separated Hometap was that it was easy to qualify because I had high equity in my house.”

Once he made the decision to pursue a Hometap Investment, he was pleased with the experience he had with his dedicated Investment Manager, Ryan.

“He answered all my questions; I had a ton of questions. He was very helpful, he was very patient with me.”

Even better, it didn’t take long for Kristian to receive his funds. “The process was very quick…it only took one month from the time I talked to Ryan to the time I got my funding.”

Now that he’s received his equity in the form of cash, Kristian has accomplished his biggest goal — and is well on his way to reaching his others. But most importantly, he’s more optimistic and less stressed about the future.

“I've already paid off several credit cards. I have peace of mind. This is going to drastically improve my life because I am self-employed…I'm free to focus on growing my business, not having to worry about how to pay all these credit card bills every month,” he said.

“I can manage my finances better. And the other thing too — it also improved my marriage. My wife and I made this decision together…we can help pay for my son's college tuition. I have extra money to invest into other assets and real estate…I'm free and have confidence and don’t have to worry about declaring bankruptcy or losing the house.”

If you could benefit from accessing your equity to reach your financial goals, find out if you qualify for a Hometap Investment. It only takes two minutes.

*Disclaimers: This homeowner was compensated for providing Hometap with an interview about his Investment experience.