C.T.C

Thanks for asking.

I think this advice is about as insane as it gets.

The standard credit card interest rate rule in Aust is 3% of the balance is the Minimal payment each month. Thus, with a debt of $40k, her min monthly payment Should be $1,200 a month. Which is a heck of a lot more than the $200 a month the Advice mentioned.

Also, at $200 a month, her $40k debt will take 200 months (16.6 years) to pay off.

And there's a pretty good bet that within the next 16 years, her Equity will go up, right?

Michael Ross