I did not know that fact about living in Texas...I live in Washington...what a great protection that American Express can not touch any debts in Texas! Wow!!
me too! $58k is a ton! but so is $5800... when you have nothing. I love how he sat there and just kept encouraging her, showing her her strength when she had the least... Good Job Dave!!!
I JUST used Dave's advice on how to deal with creditors and i saved over 50% on my old bills. A couple tips 1) ASK the person you're speaking with NOT to record the conversation (you should record it) 2) NEVER give your banking info to them, no matter what creditors will ALWAYS accept Cert. Checks & Money Orders...Use Prepaid cards in need be 3) get a Settlement Agreement in writing BEFORE you pay anything 4) Ask THEM to give you an offer and when they do, go 20% lower then that amount, depending on age of the debt, they will ask for about 60% of the debt & maybe less based on age of debt. 5) Give them as LITTLE personal info as possible, only enough to pay the bill 6) NEVER get into debt ever again....YOU CAN DO IT!!!
yo recording people without telling them in many states is a very serious criminal offense. Look up wiretapping one party two party consent in your state. Their state and your state you must follow laws for both.
wheredidileavemycell if you ask not to be recorded they can’t continue with any conversation. Also they have to tell you that the call is being recorded. That’s with any cc company or customer service call.
There are lots of occupations where you don't need college to make good middle-class wages. Or, various trades were you can make six figures after getting yourself established. Trade schools never run $60k.
gooney0 Pay your bills on time and don't spend more than you can pay back. I have the blue cash credit card and the platinum card. It's down to personal responsibility with credit cards.
I have an Amex credit card just to help with my credit score, missed 3 payments and they sent me a letter, I called them and they worked with me where I only paid the minimum amount for those 3 months, no late fees or anything like that, turns out that the mailman was leaving part of my mail in a different mailbox, explained that to Amex and problem solved, they're not that bad, but I'll tell you mailman got in trouble 😁😁😁
I love Dave Ramsey and the way he talks to these scared callers. He doesn’t try to demean them and make them feel horrible about themselves. You’re awesome Dave!
He is a great teacher too!! I have told people about Dave Ramsey and I move on because they are not where I am and time waits for no one, so I'm glad I learned from him. Paying off debt to never go back again although being challenged by situations and circumstances presently but I won't because I've come too far to turn back now.
Dave is blessed with Divine wisdom & common sense just great man all around, refreshing to listen to him. thank you for your life may God continue to bless you & family
thank you dave! i'm in a similar situation. i've been paying off my debts aggressively and successfully. but i'm also being sued by an collector from an old car loan and i can't afford it right now. i also live in texas. if they were to garnish me then it would halt all of my progress. now i will continue on my debt free journey. i'm getting so close i can smell the freedom.
Send the debt collector a debt validation letter, along with a qualified written request. That stops the collection process under the Truth In Lending Act (TILA), and the Fair Debt Collection Practices Act (FDCPA).
Being a single mother in and of itself it’s a major triumph for this girl because I am a single mother as well, and I understand completely...She doesn’t realize How much she is actually doing for herself it sounds like she’s doing amazing and she’s getting out of debt which is another wonderful thing good luck to you young lady and I wish you the best!! 🌷🌷
Dave, decency seems so underrated and undervalued recently. It's good to see this video at this difficult time in our nation. Thanks for reminding me that good, decent folk do still exist. All the best! Ace
As a parent in a separate parent family I totally appreciate this video. It is extremely difficult to navigate it on a normal basis. Good luck to this one
knottheory79220 Once you get over 5k your risk goes up of getting sued but any place that says they're going to sue over something under 1k is bluffing cause they will easily spend that on legal fees. Worst case scenario it stays on your credit for 7 years
Ghost227 they might.. it’s not worth it for them but they have a whole team that has nothing better to do. However you are in a bargaining position, offer $1000 and go from there :) good luck!
You can try and fight it yourself in court, just shows up and of course file your answer to the suit, deny it as your answer. Not showing up will give them a automatic win/default judgment.
I freaking love you and your calm demeanor. You saved thos poor girl a whole world of worry and heartache! You hit it all right on the head, she is a great person who had problems. Get IN WRITING the promise from the scumbag collector and take care of it on YOUR terms and time. 👍
i use to get a lot of collection letters saying they gonna take me to court never paid any attention to them bills went from $600 ,$800 settle to settle $150 and less in 8 months never paid full amount and i close all bank accounts and used a prepaid card or local bill pay service in my area this way i have control of my money
I Dave it's a really blessing to hear you speak to that young lady and I wish her the best and I'd like to ask a a question or two about myself I'm 63 my total household income is with wife and I have never put our money together when I was working and she was work we made quite a bit more money have one child home fund set for his college 45,000 around $100,000 now we're both my wife and I are both retired we made a about a hundred twenty five thousand a year before retirement we have three kids to we put two girls through college one 17 going to College next year money is there but we're in a lot of credit card debt we still have some small amount of savings and retirement income still coming in not myself but my wife is and it's really beginning to have effect on her and her relationship I'm going to start going back to work I'm healthy I feel good and tell me how I can make some real money before I die
Good job Dave. You made that woman's life a lot less stressful. And you ask for nothing in return. But the Lord knows what you did and you will be rewarded. God bless.
I’m being sued for 1495 in pa From a debt collector and I’ve called several times trying to settle and they won’t budge from 80% of the 1496. I was always under the impression that you could not be sued for unsecured debt! Well that’s not true it’s also not true your wages can’t be garnished and it’s also not true they all settle for half the amount
David they can garnish your wages if you are a resident of Texas. If your job corporate office is located outside the state of Texas. They will garnish your wage in the state your corporate office is located. This happen to me. I worked with a national company when i have a loan that I default on. My corporate office was located in Florida. They filed suit in Florida and garnish my wage. Then I filed bankruptcy and stopped it all.
Your current wages can’t be garnished in Texas, and most of what one owns is exempt from judgments, but your bank account can be frozen to collect on the debt.
If you are retired and have a pension or social security,debt collectors cannot garnish your bank account. It’s protected by federal law. They can sue you but they can’t garnish your accounts
@@carlosmark9840 how do you know? I got a letter from a collection lawfirm saying i need to respond to them or they will automatically assume im responsible for the debt
Remember, get your settlement in writing AND included in full settlement, NO 1099C. As a tax preparer, I see people come in with 1099C (for cancelled debt) and then they have to pay income taxes on the debt that was written off when they thought it was all settled for the lesser amount. With no time limits on these write offs, some of these 1099's are on twenty year old debt. It's crazy.
Having Cancer requiring major surgery in 2019- which resulted in some time off work and winding up with LVNV Funding on my credit report- they are trash and I am aware of multiple lawsuits against this company. All I have is Social Security because they took our jobs from us so now I have barely enough to keep minimums paid on 5 accounts. The one good thing I did find out is that when I pass ALL my debt including ,y student loans goes to the grave with me.
My mom's in the same boat. 6,800. But in california. Took on a bunch of debt to fund her daughter's emergency bills (my sister got hit by a boat propeller, nasty injury, almost lost her leg, couldn't work, my mom with no income but surprisingly good credit, opened a credit card to fund the trips to far away hospitals, specialists, surgeons, motels, etc.) My mom called the credit card people/ debt collectors to offer to make payments, and they said, "No thanks, a sheriff will be by to deliver a subpoena."
There is always something to learn and some type of action in this type of situation. Sometimes speaking to professionals helps and sometimes you can do your own research and take action on your own
Settling is the worse thing you can do. If I could go back in time I would pay all of my delinquent bills in full. Yes it's nice to get rid of them, but my credit report had a big @settled for less than" on it so when I apply for apartment everyone is alerted
I know someone who had a credit card judgment on them. They came to their house and looked over all the property in the house to see what they could sell to get their money. So, sometimes they do try to get their money.
Dave, as is often the case, is wrong. There are other negative aspects of a judgment other than a wage garnishment. For example, with a judgment, American Express can attach and take money from your bank accounts. The judgment will accrue interest at 5%. A judgment debtor will not be able to purchase a home until the debt is paid and a judgment automatically becomes a lien against any real property. He should not have said wage garnishment isn't allowed in Texas ... it is. Not for most lenders but wage garnishment is available for student loan debt, child support, back taxes, and court-ordered fines and restitution.
no, in 7 years it gets deleted if you pay them absolutely nothing & never admit debt is yours-statue of limitations unless you have judgement against you in court
does he ever recommend asking the collection agency for proof of validation. Because no way in heck they can provide a signed document showing that the debtor owes the collection agency
Sarah Blackstone I'm with you! he gives tough love to those of us who need it, and at the same time he gives hope to those who feel hopeless, god bless Dave Ramsey.
SSI is usually ungarnishable if it is non exempt income (you dont owe taxes on that income). If that's the only income you have whether they get a judgement or not they're not getting anything anyways.
Tell them you're on SSI and if they sue you, they will lose and waste more money doing so. They already know this but are trying to intimidate you into paying them.
Oh my goodness. I remember dealing with A/E back in 1989 and they talked to me like I was a dog for just $250.00. I can only immagine how they progress with being evil over thousands.
Thanks again, Dave. I was required to read your EntreLeader book back in college. . Wasn't the biggest fan of it but hearing you in real life sounds a lot better :D LOL
I just got served papers just a minute ago by Bank of America for credit card after my soon to be ex charged things on my card without my permission (he’s being sued too over a debt and blamed me ) I have started bankruptcy but haven’t paid the lawyer off
Amex got a default judgment against me. I responded to the discovery summons but never got a notice to appear in court. They didn’t garnish my wages but they seized my bank account on payday.
What I don't understand is this line of reasoning... "You promised to pay someone and then backtracked on that promise. Therefore, they are a bad company for being upset."
That part of it is that the collection tactics they use are literally against the law, and also immoral. It's okay for them to demand repayment but not okay for them to be abusive and illegal. I think in this call they didn't really talk about that part of it.
Following your method today and I’ve watch few videos. Downloaded your app for it tell me I’m way over budget. I wrote down everything from lowest to highest and only thing I have that’s outstanding is my car. I have about five more years including this year to pay it off.! ! But right now I’m going to work on paying off and settling with collectors with small debt.
I had a collection guy try to talk down to me and I said "I don't appreciate you talking to me like this considering I called YOU to try to get this debt paid." haha...he shut up REAL quick.
Should have left medical bill’s delinquent, they will settle for 10%. Send cc company certified letter requesting debt validation in 30 days, when they don’t, set a court date and judge will side in your favor…
Pay your bills and you won't have to deal with them. If you have a legitimate issue such as major medical or job loss the credit card companies will work with you. Most people get into the situations by being irresponsible
Dave Ramsey deserves all of the respect he gets. But, I have to quibble a little with not fighting this lawsuit. A good consumer rights attorney could answer her summons and probably get the case dismissed for a reasonable fee. Collection attorneys simply cannot document credit card debt to court standards, AND there is no way they can supply a truthful affidavit in support of their documentation from someone with personal knowledge of the debt. There simply are not enough AMEX employees to have personal knowledge of millions of AMEX credit card accounts.
Discover came after me and dropped their court action, later claimed I could not be served but their lawyer sent me mail. I sent Discover a settlement offer contingent upon their Instrument-of-Indebtedness, Discover never responded and refused payment in the process. A year later, sent Discover a ratified affidavit demanding proof of debt, Discover sent me a standard form letter stating a previous investigation; this is admittance there is no proof of debt per the terms in the affidavit... Both documents are provided to CFPB with a complaint. Discover also refused to comply with an Identity Theft report and just ignored it. Credit bureaus are now on notice to block the file because I never charged anything as I was informed by Discover... I purchased credit Sabre a long time ago
It should always be okay with you to speak with an attorney as long as you can afford an attorney! Also, guess who has student loan debts, for going to law school, lawyers..AKA...attorneys!
The only problem with what he said was when he asked about the child support. Then he said "Well, you're not getting rich off of that". Child support is to take care of the child. Not to get rich off of.
Texas does not allow garnishment of wages. But they allow your bank account to be garnished. So if you have money in account or have direct deposit it will be seized. And they will clean you out. If a judgement has been placed you might be too late. End deposits before judgement and no more accounts
In Texas they can't garnish your wages but they can garnish your BANK ACCOUNT once you deposit your wages if they sue you and get a judgement against you.....that's why the collector asked her for her where she worked and how much she makes.
True … just a note for older people though…Unless you’re on social security . Then they can’t unless you deposit more than 2 times your monthly social security income so don’t keep much in the account that has a lien on it if you’re a retired person .
It's so true about amex. Even when a past guest at a hotel is disputing charges, they are the worst to talk to. I never took a call from amex again. Smh
![We TEAR APART a debt collector lawsuit [Midland Credit Management]](http://i.ytimg.com/vi/ZyYx7L1EKmc/mqdefault.jpg)
Dave Ramsey, you're a saint. The way you give scared people hope is amazing.
Don't religious people believe idolatry is a sin?
Yep. :D
Praise Dave Ramsay, remover of shackles, bringer of freedom.
When you can identify your logical fallacy, then we'll talk. :D
That's the joke
I want to give her a hug. Dave is a saving grace in this woman's life. ❤️️
I want to give you a hug. You're gorgeous
@@charlesyoung9980 Well thank you Ed! But, I'm a married man.
I did not know that fact about living in Texas...I live in Washington...what a great protection that American Express can not touch any debts in Texas! Wow!!
Hey Madison...saw your videos..your pretty cute, thanks for the crunchy noises!
@@shaneourada3013 get that women!
me too! $58k is a ton! but so is $5800... when you have nothing. I love how he sat there and just kept encouraging her, showing her her strength when she had the least... Good Job Dave!!!
I JUST used Dave's advice on how to deal with creditors and i saved over 50% on my old bills. A couple tips
1) ASK the person you're speaking with NOT to record the conversation (you should record it)
2) NEVER give your banking info to them, no matter what creditors will ALWAYS accept Cert. Checks & Money Orders...Use Prepaid cards in need be
3) get a Settlement Agreement in writing BEFORE you pay anything
4) Ask THEM to give you an offer and when they do, go 20% lower then that amount, depending on age of the debt, they will ask for about 60% of the debt & maybe less based on age of debt.
5) Give them as LITTLE personal info as possible, only enough to pay the bill
6) NEVER get into debt ever again....YOU CAN DO IT!!!
Screenshotted for future reference!
yo recording people without telling them in many states is a very serious criminal offense. Look up wiretapping one party two party consent in your state. Their state and your state you must follow laws for both.
wheredidileavemycell if you ask not to be recorded they can’t continue with any conversation. Also they have to tell you that the call is being recorded. That’s with any cc company or customer service call.
Thank you great advice
Linda- you have something in common with Dave Ramsey. You have both been sued by American Express. You will be fine!
lol
60k in student debt to make 43k a year is insane.
Matt Man welcome to the US.
She could got no degree and make 16K a year at Wal-Mart.
There are lots of occupations where you don't need college to make good middle-class wages. Or, various trades were you can make six figures after getting yourself established. Trade schools never run $60k.
16k a year?... that's like making $6.50 an hour all year, no holidays...
But maybe it's worth it if she likes her job....happiness in your job is priceless
58 what? 5800. Great, I was about to pass out. *Spits coffee on the monitor*
I missed an Amex payment once. They called me the very next day and cut off my credit card. Those guys do not mess around.
gooney0 Pay your bills on time and don't spend more than you can pay back. I have the blue cash credit card and the platinum card. It's down to personal responsibility with credit cards.
Josh personal responsibility can't help you if you get hurt and can't go to work....hardships happen.
I have an Amex credit card just to help with my credit score, missed 3 payments and they sent me a letter, I called them and they worked with me where I only paid the minimum amount for those 3 months, no late fees or anything like that, turns out that the mailman was leaving part of my mail in a different mailbox, explained that to Amex and problem solved, they're not that bad, but I'll tell you mailman got in trouble 😁😁😁
Yeah they are too busy funding celebrity expenses to let you get behind on your payments.
In the movie "Wall Street" Charlie Sheen's character said Amex has a hit man looking for him.
I love Dave Ramsey and the way he talks to these scared callers. He doesn’t try to demean them and make them feel horrible about themselves. You’re awesome Dave!
Probably the first kind words this lady heard in years. Dave Ramsey is a giant of emotional intelligence.
You're a good man, Dave!
He is a great teacher too!! I have told people about Dave Ramsey and I move on because they are not where I am and time waits for no one, so I'm glad I learned from him. Paying off debt to never go back again although being challenged by situations and circumstances presently but I won't because I've come too far to turn back now.
I was sued by capitol one for $2,500. Don’t get behind credit card payments, don’t get capitol one credit cards. They will NOT work with you.
Dave...you ROCK.
frill
Aww she started to breakdown towards the end of the call. I love this guy.
Dave is blessed with Divine wisdom & common sense just great man all around, refreshing to listen to him. thank you for your life may God continue to bless you & family
thank you dave! i'm in a similar situation. i've been paying off my debts aggressively and successfully. but i'm also being sued by an collector from an old car loan and i can't afford it right now. i also live in texas. if they were to garnish me then it would halt all of my progress. now i will continue on my debt free journey. i'm getting so close i can smell the freedom.
Send the debt collector a debt validation letter, along with a qualified written request. That stops the collection process under the Truth In Lending Act (TILA), and the Fair Debt Collection Practices Act (FDCPA).
Being a single mother in and of itself it’s a major triumph for this girl because I am a single mother as well, and I understand completely...She doesn’t realize How much she is actually doing for herself it sounds like she’s doing amazing and she’s getting out of debt which is another wonderful thing good luck to you young lady and I wish you the best!! 🌷🌷
Dave, decency seems so underrated and undervalued recently. It's good to see this video at this difficult time in our nation. Thanks for reminding me that good, decent folk do still exist.
All the best!
Ace
As a parent in a separate parent family I totally appreciate this video. It is extremely difficult to navigate it on a normal basis. Good luck to this one
$5800 isn't worth suing someone for. The costs to recover it would be too great. They are using underhanded intimidation tactics.
knottheory79220 Once you get over 5k your risk goes up of getting sued but any place that says they're going to sue over something under 1k is bluffing cause they will easily spend that on legal fees. Worst case scenario it stays on your credit for 7 years
Jarrod Schrunk I did not know this. Thank you.
Jarrod Schrunk my old credit card wants to take me to court for 3k. Do you think they’ll actually do it?
Ghost227 they might.. it’s not worth it for them but they have a whole team that has nothing better to do. However you are in a bargaining position, offer $1000 and go from there :) good luck!
I've been sued for $2300 by capitol one.....so yes they can sue her for that money
was tearing up listening to this call, the womans obviously struggling, hope she made it through
You can try and fight it yourself in court, just shows up and of course file your answer to the suit, deny it as your answer. Not showing up will give them a automatic win/default judgment.
Please remind people that if they make a settlement that they need it in Writing! They aren't good humans and will try to get another bite.
I respect his compassion. He's straight up. 😀😀
It is amazing to see someone who has had such an impact on so many lives. I hope one day others will think the same about me.
You handled this very compassionately
I love you Dave Ramsey. Thank you for all you do for us! I'm almost debt free! We can't wait to scream "I'm debt free!"
I freaking love you and your calm demeanor. You saved thos poor girl a whole world of worry and heartache! You hit it all right on the head, she is a great person who had problems. Get IN WRITING the promise from the scumbag collector and take care of it on YOUR terms and time. 👍
i use to get a lot of collection letters saying they gonna take me to court never paid any attention to them bills went from $600 ,$800 settle to settle $150 and less in 8 months never paid full amount and i close all bank accounts and used a prepaid card or local bill pay service in my area this way i have control of my money
I Dave it's a really blessing to hear you speak to that young lady and I wish her the best and I'd like to ask a a question or two about myself I'm 63 my total household income is with wife and I have never put our money together when I was working and she was work we made quite a bit more money have one child home fund set for his college 45,000 around $100,000 now we're both my wife and I are both retired we made a about a hundred twenty five thousand a year before retirement we have three kids to we put two girls through college one 17 going to College next year money is there but we're in a lot of credit card debt we still have some small amount of savings and retirement income still coming in not myself but my wife is and it's really beginning to have effect on her and her relationship I'm going to start going back to work I'm healthy I feel good and tell me how I can make some real money before I die
Good job Dave. You made that woman's life a lot less stressful. And you ask for nothing in return. But the Lord knows what you did and you will be rewarded. God bless.
I don’t really have credit.......good or bad. My mother taught me that if I didn’t have the cash to buy it now, I don’t need it.
What a kind man. Thank you Dave
This is awesome, "fighting the bear out there fighting the bear with a switch" I love that c'mon somebody!
I’m being sued for 1495 in pa From a debt collector and I’ve called several times trying to settle and they won’t budge from 80% of the 1496. I was always under the impression that you could not be sued for unsecured debt! Well that’s not true it’s also not true your wages can’t be garnished and it’s also not true they all settle for half the amount
David they can garnish your wages if you are a resident of Texas. If your job corporate office is located outside the state of Texas. They will garnish your wage in the state your corporate office is located. This happen to me. I worked with a national company when i have a loan that I default on. My corporate office was located in Florida. They filed suit in Florida and garnish my wage. Then I filed bankruptcy and stopped it all.
What kind of bankruptcy?
Your current wages can’t be garnished in Texas, and most of what one owns is exempt from judgments, but your bank account can be frozen to collect on the debt.
Some Guy In PA they can garnish your bank account but they can’t touch the first $300.
If you are retired and have a pension or social security,debt collectors cannot garnish your bank account. It’s protected by federal law. They can sue you but they can’t garnish your accounts
I was almost going to pass out as well; lol.
😢thats me now I’m crying just hearing this I got 3 law suit all under 4,000 and I’m so overwhelmed
They are not going to sue you just letter threats
@@carlosmark9840 how do you know? I got a letter from a collection lawfirm saying i need to respond to them or they will automatically assume im responsible for the debt
Wish these had a followup. Would be great to hear her debt free scream.
Remember, get your settlement in writing AND included in full settlement, NO 1099C. As a tax preparer, I see people come in with 1099C (for cancelled debt) and then they have to pay income taxes on the debt that was written off when they thought it was all settled for the lesser amount. With no time limits on these write offs, some of these 1099's are on twenty year old debt. It's crazy.
Having Cancer requiring major surgery in 2019- which resulted in some time off work and winding up with LVNV Funding on my credit report- they are trash and I am aware of multiple lawsuits against this company. All I have is Social Security because they took our jobs from us so now I have barely enough to keep minimums paid on 5 accounts. The one good thing I did find out is that when I pass ALL my debt including ,y student loans goes to the grave with me.
You are a great person for helping all these people out, the way you do. You sir, are an upstanding man. keep it up.!!!!
So glad I found ramsey before any of this could happen to me or my loved ones.. change the family tree.
My mom's in the same boat. 6,800. But in california. Took on a bunch of debt to fund her daughter's emergency bills (my sister got hit by a boat propeller, nasty injury, almost lost her leg, couldn't work, my mom with no income but surprisingly good credit, opened a credit card to fund the trips to far away hospitals, specialists, surgeons, motels, etc.)
My mom called the credit card people/ debt collectors to offer to make payments, and they said, "No thanks, a sheriff will be by to deliver a subpoena."
There is always something to learn and some type of action in this type of situation. Sometimes speaking to professionals helps and sometimes you can do your own research and take action on your own
Settling is the worse thing you can do. If I could go back in time I would pay all of my delinquent bills in full. Yes it's nice to get rid of them, but my credit report had a big @settled for less than" on it so when I apply for apartment everyone is alerted
musicvixen24 apartments don't care about credit debt they care about rental judgments. go find another apartment
musicvixen24 r
Rent from an individual, not a complex.
I know someone who had a credit card judgment on them. They came to their house and looked over all the property in the house to see what they could sell to get their money. So, sometimes they do try to get their money.
What state was this in?
Go Linda go.. You will win
Dave, as is often the case, is wrong. There are other negative aspects of a judgment other than a wage garnishment. For example, with a judgment, American Express can attach and take money from your bank accounts. The judgment will accrue interest at 5%. A judgment debtor will not be able to purchase a home until the debt is paid and a judgment automatically becomes a lien against any real property. He should not have said wage garnishment isn't allowed in Texas ... it is. Not for most lenders but wage garnishment is available for student loan debt, child support, back taxes, and court-ordered fines and restitution.
This video made me emotional. Great advice!
Why is this random Dave Ramsey video making me cry
American Distress 😂😂😂😂 thanks Dave for your wonderful advice.
no, in 7 years it gets deleted if you pay them absolutely nothing & never admit debt is yours-statue of limitations unless you have judgement against you in court
Settlements may have tax consequence, so that is something she will need to be aware of as well.
THANK YOU FOR THE ADVICE , thank you
One of the rare pieces of good advice I've seen from this guy.
does he ever recommend asking the collection agency for proof of validation. Because no way in heck they can provide a signed document showing that the debtor owes the collection agency
Sarah Blackstone I'm with you! he gives tough love to those of us who need it, and at the same time he gives hope to those who feel hopeless, god bless Dave Ramsey.
Send the debt collector a certified promissory note to discharge the debt under UCC Article 3, section 603 & 604.
Thank you Dave for all of your wonderful advice!!
How should i respond if I have been sued by credit card company but I'm on SSI? I'm experiencing financial hardship and barely getting by and old.
SSI is usually ungarnishable if it is non exempt income (you dont owe taxes on that income). If that's the only income you have whether they get a judgement or not they're not getting anything anyways.
Tell them you're on SSI and if they sue you, they will lose and waste more money doing so. They already know this but are trying to intimidate you into paying them.
Tell them to pound sand. Make sure your SSI isn't commingled with other funds!!
I don’t think they can take so money call legal aid
Makes you want to move to Texas
Please don’t we are full
Love this encouragement!! Powerful!
Oh my goodness. I remember dealing with A/E back in 1989 and they talked to me like I was a dog for just $250.00. I can only immagine how they progress with being evil over thousands.
🤣😂
Thanks again, Dave. I was required to read your EntreLeader book back in college. . Wasn't the biggest fan of it but hearing you in real life sounds a lot better :D LOL
I just got served papers just a minute ago by Bank of America for credit card after my soon to be ex charged things on my card without my permission (he’s being sued too over a debt and blamed me ) I have started bankruptcy but haven’t paid the lawyer off
"American Distress" :D :D :D
Did American Express really say why do you stay with a man who don't pay his bills??? I'm dead 💀💀. That rep would've gotten a word or two 😂😂😂
😂
Amex got a default judgment against me. I responded to the discovery summons but never got a notice to appear in court. They didn’t garnish my wages but they seized my bank account on payday.
I love your show, thank you for all you do !!!
How does $800 a month in child support equal $3,000 a year Ramsey needs to get a new calculator
She said 300 or 400 a month. She didn't say 800.00
97thumbs down must be AE collection employees 🤣
I like how Dave tried to give her FPU she said I'm good, then he said ok I'm gonna set u up with a coach then as a gift hahah Dave never stops.
Amen these are my favorite calls
What I don't understand is this line of reasoning... "You promised to pay someone and then backtracked on that promise. Therefore, they are a bad company for being upset."
That part of it is that the collection tactics they use are literally against the law, and also immoral. It's okay for them to demand repayment but not okay for them to be abusive and illegal. I think in this call they didn't really talk about that part of it.
4:25 "If I'm right,...and I AM..."
SAVAGE :D
Following your method today and I’ve watch few videos. Downloaded your app for it tell me I’m way over budget. I wrote down everything from lowest to highest and only thing I have that’s outstanding is my car. I have about five more years including this year to pay it off.! ! But right now I’m going to work on paying off and settling with collectors with small debt.
I had a collection guy try to talk down to me and I said "I don't appreciate you talking to me like this considering I called YOU to try to get this debt paid." haha...he shut up REAL quick.
they get their money back via income taxes, if you are receiving a tax refund
Should have left medical bill’s delinquent, they will settle for 10%. Send cc company certified letter requesting debt validation in 30 days, when they don’t, set a court date and judge will side in your favor…
Credit cards can be boon if used wisely but could turn nasty and take away your peace of mind if used recklessly! Be wise and listen to Dave!😉
I live in INDIA and I know where these American express collections team is located
Souvik Dutta where?
ok? so?
No, that's the IRS guys that keep ringing saying I'm gonna be arrested if I don't PayPal them $500
Pay your bills and you won't have to deal with them. If you have a legitimate issue such as major medical or job loss the credit card companies will work with you. Most people get into the situations by being irresponsible
ROBERT S - they legit do. They can settle, or put the accounts on a smaller payment.
DAVE RAMSEY STICKIN IT TO THE MAN
I wish I had seen this video prior to making my “settlement debt offer.” The company is still after me for the remainder of the money. Not paying it.
Dave Ramsey deserves all of the respect he gets. But, I have to quibble a little with not fighting this lawsuit. A good consumer rights attorney could answer her summons and probably get the case dismissed for a reasonable fee. Collection attorneys simply cannot document credit card debt to court standards, AND there is no way they can supply a truthful affidavit in support of their documentation from someone with personal knowledge of the debt. There simply are not enough AMEX employees to have personal knowledge of millions of AMEX credit card accounts.
Discover came after me and dropped their court action, later claimed I could not be served but their lawyer sent me mail. I sent Discover a settlement offer contingent upon their Instrument-of-Indebtedness, Discover never responded and refused payment in the process. A year later, sent Discover a ratified affidavit demanding proof of debt, Discover sent me a standard form letter stating a previous investigation; this is admittance there is no proof of debt per the terms in the affidavit... Both documents are provided to CFPB with a complaint. Discover also refused to comply with an Identity Theft report and just ignored it. Credit bureaus are now on notice to block the file because I never charged anything as I was informed by Discover... I purchased credit Sabre a long time ago
It should always be okay with you to speak with an attorney as long as you can afford an attorney! Also, guess who has student loan debts, for going to law school, lawyers..AKA...attorneys!
Law school is much more expensive than any BA...BS... The only thing equivelant to a law degree is medical school!
The only problem with what he said was when he asked about the child support. Then he said "Well, you're not getting rich off of that". Child support is to take care of the child. Not to get rich off of.
tampajohn he was joking lol
Child support is widely abused. I wish there was a massive lawsuit from fathers against the United Stated goverment for theft and abuse.
The fathers can sue as soon as the deadbeat dads all get paid up
Everyone gets nasty when you owe them thousands and don't pay your bills.
I see that this video is 5 years old. I am hoping that this lady is done with all her debt and is in financial freedom with her kids.
58. Geez. I hate when people are vague like that.
It would have been hilarious if it had been 58 dollars.
That’s really good to know thank you Dave
Texas does not allow garnishment of wages. But they allow your bank account to be garnished. So if you have money in account or have direct deposit it will be seized. And they will clean you out. If a judgement has been placed you might be too late. End deposits before judgement and no more accounts
In Texas they can't garnish your wages but they can garnish your BANK ACCOUNT once you deposit your wages if they sue you and get a judgement against you.....that's why the collector asked her for her where she worked and how much she makes.
True … just a note for older people though…Unless you’re on social security . Then they can’t unless you deposit more than 2 times your monthly social security income so don’t keep much in the account that has a lien on it if you’re a retired person .
Why would anyone be proud of working for/at American Express beside probably a decent paycheck?
Hugo-Garcia HGX Amex is awesome if you make sure to pay everything off each month.
Working a job to provide for your family is necessary while finding a job that you are “proud” of is not.
I had no idea AMEXA was horrible like that.
It's so true about amex. Even when a past guest at a hotel is disputing charges, they are the worst to talk to. I never took a call from amex again. Smh
What do you mean? You disputed a hotel charge?
When Dave says get the amount “in writing” from the debt collector; does email suffice?
Yes but you need a signature on there too.
Can someone please explain why telling a lawyer about her finances was a bad idea? Isn’t that confidential information they can’t share?
$60,000 in student loans, make $43,000 a year. wild stuff!
I just got summoned from Capital One, I wonder if they can garnish wages in Florida.
Me too, but from a collection agency that brought my capital one account