I know a guy who comes to you to fix your phone. People tip him well to come to their job when a screen is broken. He carries accessories around in a bag and people buy them up.
depends on what kind of contracts he has tbh. If he's certified by a large manufacturer like Apple or Samsung they require as part of their partner programs that you have a brick and mortar storefront not zoned residential. Doubt that's the case here but it could be.
So sweet to say. I'm cheering for him too! He is stronger than other men that do not ask for him. He has taken the first step by calling Dave Ramsey. I look forward to hearing ear his Debt Free Scream Next!!
It may seem hopeless but calling Dave is the first step in the right direction. Changes are needed, it won’t be easy, but it’ll be worth. I wish you the best bro.
Especially when you consider that he lives in Puerto Rico. Based on their economy & average income, $100,000 to them would feel more like $300,000 to us.
When you are in a crisis, you can’t breath, eat or see, you are blind! Advise seeking is the best way to handle things. Poor guy, I see myself in his crisis.
His debt is huge, I can’t argue with that. It depends how much is too much for every person. I took a student loan of 10.000€ 2 years ago and I was very afraid of not being able to pay it. I didn’t had stability and a job.
I so agree with you...it just seems this poor fellow just got into big trouble that he Just didn't have the resources to handle...so God Bless him and has family and may his struggles end soon in Jesus name!
Two people working together for $20k. That's less than $5/hr per person. This guy has been through a lot, but he needs to stop the bleeding and get a regular job. Walmart pays more than that.
Paying off your credit card debt is like getting a guaranteed return on investment of the interest rate you’d otherwise be paying! So important to avoid this debt 👍
One cannot help but think that if the $80 bn + spent on weapons in Afghanistan had been spent on better housing protection against hurriacnes, some of these problems could have been alleviated.
I have been in this situation with credit card debt of 5 credit cards with 5 different banks totaling RM85,000. After listening to advice from financial advisor Dave Ramsey on his radio podcast, I was able to finish in 42 months. Thank you Mr. Ramsey.
credit cards are great if you pay them off every month. you can get points to basically take vacations for free, get discounts at stores and on gas etc. debt can be fine if you use it in a smart way. there are people that are millions in debt, but they own millions worth of real estate that is profit in the end.
I'm always amazed at the number of people who have a massive car payment and can't possibly afford it. I wonder if they just never thought of getting rid of it, or if they didn't think it was possible, or what the mindset is. It's so common.
When I got divorced 13 years ago we had 161k in credit card debt. Did I mention we got divorced over it? Don't get into huge debt, it destroys your relationships and lives.
I’ve never been married and I’m honestly curious - how do you accumulate $161K in CC debt? Was there an emergency or crisis, or was there a shopping/gambling addiction?
Do not EVER get into business with the mindset of "do it yourself" and staying small. The only mindset in business you can have is Massive action and Growth. This is what happens when you stay small. You stay poor. And have copious amou nts of risk
They would've charged off the credit cards. At this point, the interest is no longer accruing and has been sent to debt collectors. Credit card companies typically serve you higher interest rates if you continue to make payments. Not if you're behind a year.
This guy is a great example of most of his problems being a frame of mind, he needs a paradigm shift. He's trying to do his own business which is a step in the right direction but he sounds defeated, and he's basically in a place where he doesn't believe it's going to get better.
Yea this is a tough one. I definitely feel his pain first hand . Not quite in this position but I too am $100k in credit card debt with $1 million in total debt and It sucks! I am happy to have a plan to pay it back but no doubt this is a tough one. Good luck man ! Keep hustling! Wish you the best !!
Of course, Dave Ramsey always has great advice, but Dave needs to understand that the average annual income in Puerto Rico is approximately half what it is in the rest of the United States. I agree, he needs to increase his income, but that will be much harder to do where he lives.
So true Nancy! I live in a small town called lares. I'm a teacher and after Maria I lost my second job! I make 23000 yearly! My wife makes 9000 and we live rent free and we still can't make it! 2 daughters! But I stopped paying cc to survive and will start paying charged off debt soon!
@@aileencrane7700 after taxes, child care, food, utilities, insurance plus anything else we don’t know about like medications or medical bills that’s not a lot of money.
@@Sunday-ex7px if your making 30k a year in Puerto Rico you pay like nothing in taxes. If she's only making 9k sounds like its part time so childcare shouldn't be too expensive. Even in US food and utilities are around 500-700 a month so in PR your prob around 300-400. So that is 4k a month, no rent, let's say 10k in childcare which is generous considering your wife is prob part time and that brings you to 14k. With transportation and insurance prob around 25k. Thats 5-6k left over right?
It blows my mind that some people can have so much in credit card debt. I'm not even talking about irresponsible spending: how do they even have credit limits that high?
The credit card companies are no more than loan sharks. They'll give you another card when you already have 10 maxed out. They'll give you a card to transfer your debt from other cards. They'll give you another card weeks after a bankruptcy. It's predatory lending.
Seriously. The credit cards are taking from guys like this and doling it out in rewards for me. I'm afraid though once too many buffoons file bankruptcy on credit cards. Our sign up bonuses will be gone!
Some people have 15 to 25 credit cards, each with a limit of five grand or less, so it isn't hard to run up an $100k in debt. And a credit card debt that high is probably costing him $1500-$2000 a month IN INTEREST!!! That's insane. "Oh, the interest on each card is only about $40-$50 a month." Yeah, but you've got 20 credit cards!
My goodness. His CC debt is higher than all of my debts and mortgage combined. God bless this person for keeping at it and not choosing bankruptcy and most terrifying, suicide, to escape this financial crisis. Persistence is definitely something that must be taught in school just like personal finance.
I don’t know if this would help, but there are usually oil and gas production positions available in the Arctic oil fields that pay in excess of $60k for “no previous experience required” workers. It’s a tough place to work, potentially hazardous, and the schedules can be brutal, but I know many people that have worked those jobs for a few years to help boost their income when they were struggling. Maybe not a great long term solution, but it could alleviate the development of financial “crisis”. Also, seasonal commercial fishing or fish processing can sometimes be a good gig.
Bankruptcy is the fastest way out of this hole. I don't care what Dave says. Don't spend the next 20 years trying to pay this off. Go bankrupt and after 7 years you can rebuild your credit.
Dave Ramsey is also trying to teach people to take a moral high road by paying the debts they incur. Bankruptcy is a nuclear option that hurts the person doing it and many others who are involved (creditors, other customers of those creditors, family, business associates, any employees who may be involved, and so on). Choice: moral high road (more difficult, but it always is) or moral low road (easier way out).
I remember back to late 1970s or early 1980s when my husband applied for a master credit card he was turned down. We had no debt other than a mortgage and paid for everything using cash. Back then credit card companies were a lot more scrupulous on giving out credit cards.
And i only have a 20$ balance on my credit card that’s due monthly. I can’t imagine having thousands of dollars due. My God. I only use it once a month and that’s for gas and that’s it.
Every Dave call where "What do you make before taxes?" "Oh I make *some ok amount* but then I have to buy merchandise, pay business expenses..." *oh my lort*
My highest cc debt was $27,500. Now zero Cut up my cc. It was a long hard struggle But it was worth it. Now I paid my home cash And have large savings Thx Dave.
I was in his shoes a few years ago.... I was being stupid with money, had car loan and credit card debt nowhere near his amount but I still felt stupid... I just found a job, worked hard to pay them off and learned not to do it again.
🇵🇷 brother mete mano! Lo vas a lograr. Me alegra ver a otro puertorriqueño escuchando y siguiendo este programa. No te quites de ese negocio, sal de las deudas y mete mano porque hay potencial ahí.
Raymond you have to get out of debt fast! Sal del carro y trate de no gastar! Yo vivo en lares y estoy pasando lo mismo! Olvidate de Las cc que ellos no puede hacerte nada! Llevo tres anos sin pagar porque no me da y soy maestro de ingles! Vovi en casa de mis Papa's con mis familia! Simplemente no da! Y mi esposa trabajan tambien! No da! Decisions vivir minimalista! Nada de lujo y Los dos carros viejos! No salimos tampoco! Tu lo puedes lograr y pon fe en Dios! Dtb!!!
I don't get how people get that much credit card debt. Is it from having so many cards? Constant credit line increases? I'm only asking because I have 4 total credit cards and the total limit is $3,800.
If you can’t find a good job in Puerto Rico, he needs to move to a low cost of living area in the mainland. I don’t know why Dave didn’t mention that as an option. Plenty of fast food places are offering $15 an hour in the Midwest right now.
Dave’s advice he gives to people regarding credit cards in lawsuit status is beyond scary. I worked for a firm for almost 10 years are they slimy absolutely but the advice these people are given is potentially putting them in a awful position regarding wage garnishments and bank levys. As horrible as it is to be sued just call the law firm and make a payment arrangement. Avoidance or trying to low ball a settlement is not a way to make the problem go away. Just my 2 cents 🙂
Dave, like many finance advice people, think they have all the answers when they have the same answer to every problem. Make more money, have less expenses.
Lolz, what is your advice then?? Interest and late penalties on $100k balance is more than their entire income. So you seriously think they are going to be able to pay it if the CC company takes them to court. Bro. Wake up. They are bankrupt if someone pushes the issue. The houses will be gone, the car gone, the business gone and there is nothing left to take for the CC company. I’m pretty sure the company would be aware of how bad the situation is and settle the debt years from now for a small fraction. If not he is bankrupt and it’s over and they get zero anyway.
And not eating out at restaurants; and yes continue to drive that 10 year old vehicle if it’s still runs well ( part of the four walls). He has to go back to earning an income. Ijs
"Bayamon" is right outside of "San Juan" it literally could not be any closer. It isn't a small town on the outskirts either it's actually a pretty big economy because it's connected directly to "San Juan". So I can't see why he would have a lack of client's unless he just isn't advertising or his shop is in a bad location.
Banks are willing to lend money to devil himself is he passes by, that is how earn money. I live in Spain and several years ago I received a letter offering an American Express card. I immediately thought "this guys are so greedy and desperate to get customer if the have send this letter to me " !!!
never own property near the ocean or on an island people. Live there, rent something, let someone else deal with the natural disasters. Owning property inland is far less risky, and far less maintenance. Buildings near the ocean rot apart much faster and tend to get hit by hurricanes. So if you MUST live near the ocean go with either a solid concrete hurricane proof building, or a bamboo hut that you just build another one after each hurricane. Property owners in Florida on the coast are just waiting for the next big one. idk why people don't learn.
rustyscrapper I guess most care about the warm weather and warm water, and don’t care about the harsh repercussions that come with warm temps. There’s no such thing as a free lunch. Pay now or pay later... you couldn’t give me a free house in hurricane alley. If you did, I would just sell it to some other unsuspecting instant gratification idiot.
So there's no way to earn more than he's already doing? i don't believe puerto rico is that destitute of a nation that he and his wife could find separate work that would at least increase what they're earning now.
Terry Waters Still stupid and not a guarantee that some assets won’t be lost. Totally ruins your credit when you could very feasibly pay it back yourself and save a lot of future pain. Everybody always goes to the easiest way out and almost always that’s at the detriment of their future.
Did they not have insurance on their home that was destroyed? Are they paying a mortgage on a "totaled" house or piece of land? I'd demo the house and sell the lot for a start. I can't think of a bank that would even lend on a home without making the owner pay for house insurance.
Good lord! I would be absolutely sick to my stomach with that amount of debt for freakin credit cards! I’m almost done paying off my $400 credit card and that’s giving me a headache. I feel bad for the caller though because of the natural disaster. When I used to work for a retail company that ships orders internationally, we didn’t ship anything to Puerto Rico for months because of the hurricane.
There is no living to be made in the repair of much electronics today. Manufactured by robots and priced so inexpensively, a large percentage of it is throw away and replace!
@Mr. Wick If I have a piece of defective electronics, it's going in the trash, not another owner. That's why I will not buy much of anything today in used condition.
Raymond! I’m from Ponce and live in Salinas, I have an iPad needing repair, tell me where your shop is so I can go. We need to help esch other out. Let me know
I'm sure the economics of Puerto Rico are a bit different, but this sounds like a business that you could run out of your home. And I don't see why there is a need to own a $26,000+ vehicle on such a small island. I just checked craigslist, and it looks like they depreciate there just as quickly as they do on the mainland.
Dang! Raymond and his wife are suffering from what the late Michael Gerber would call an 'Entrepreneurial Seizure'. [See "E Myth".] This is definitely an income problem. I feel for these two. May they find their way out of their mess with Dave's help.
When he said hi Raymond it reminded me of times I said things like hi I'm years old when I was nervous and asked to say my name and age it all wanted to come out at once 😂. But yeah no I feel like dude need bankruptcy this is a dumpster fire
You know it's serious when Dave needs to go to a commercial after hearing your problem.
Fix the phones at a home office on the side. Remove the overhead
exactly in the online age there's no need for brick and mortar shops. He can do it from home.
I know a guy who comes to you to fix your phone. People tip him well to come to their job when a screen is broken. He carries accessories around in a bag and people buy them up.
👏
Gr8 idea!!
depends on what kind of contracts he has tbh. If he's certified by a large manufacturer like Apple or Samsung they require as part of their partner programs that you have a brick and mortar storefront not zoned residential. Doubt that's the case here but it could be.
Wish this caller all the very best. Really feel for him. Good luck buddy we are cheering for you.
Don't feel bad, he's been living like a king
So sweet to say. I'm cheering for him too! He is stronger than other men that do not ask for him. He has taken the first step by calling Dave Ramsey. I look forward to hearing ear his Debt Free Scream Next!!
It may seem hopeless but calling Dave is the first step in the right direction. Changes are needed, it won’t be easy, but it’ll be worth. I wish you the best bro.
I feel terrible about the people of Puerto Rico. Maria devastated the island and these people are struggling.
NurturingTalents they don’t want to.. I agree with you.
The US gave them boat loads of money in aid.
Their government plundered it.
Puerto Rico is a basket case, unfortunately.
@@johnnymichael1804 Yes, that's true. The government sucks there and everywhere else in the world!
@LagiNaLangAko23 it's a corrupt government. No checks and balances.... Things get out of control. No one to watch the watchers.
They live in a hurricane zone.
Like complaining about the heat in
Las Vegas
Hearing $100K in CC debt makes mine look like a joke
Especially when you consider that he lives in Puerto Rico. Based on their economy & average income, $100,000 to them would feel more like $300,000 to us.
Byzantine Catholic For Life I have $2700 in credit card debt and I’m going crazy!!! I can’t imagine having $100k 🤦🏽♀️
I'm over here whining about $1000
Seriously im so stressed and feel drowned in 13 k of cc debt making 70k a year jesus poor guy
you can say that again, but i help people manage their debt until they are all paid off....
You know you’re in trouble when Dave exhales that loudly when he hears your problem.
I feel so sorry for this man. I hope he can have a better future.
I love how caring and loving Dave has been throughout the call, even while delivering hard truths. Mark of a man.
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
How??
Dave was stressed you can see it in his face .. hope this guy pulls thru
When you are in a crisis, you can’t breath, eat or see, you are blind! Advise seeking is the best way to handle things. Poor guy, I see myself in his crisis.
Otilia
I can’t see myself in that situation.
Would have seen that mess coming long ago.
His debt is huge, I can’t argue with that. It depends how much is too much for every person. I took a student loan of 10.000€ 2 years ago and I was very afraid of not being able to pay it. I didn’t had stability and a job.
God Bless This Man, I hope he'll be blessed this 2020.
I so agree with you...it just seems this poor fellow just got into big trouble that he Just didn't have the resources to handle...so God Bless him and has family and may his struggles end soon in Jesus name!
Amen
2020 didn’t bless anyone!
@@MrsEJV it blessed me
I’m 12,000 in credit card debt but I’m slowly getting rid of it!
The Entrepreneur Channel $12k is disgusting. Ever thought about having no debt?
@@mikenelson8377 is that not what he's doing? He literally states "I'm slowly getting rid of it."
Cassie Best Ever! why have it at all? 🤷🏼♂️🤦🏼♂️
@@mikenelson8377 No. I'm sure he has never thought about it.
The Entrepreneur Channel I’m 0$ credit card debt :)
Two people working together for $20k. That's less than $5/hr per person. This guy has been through a lot, but he needs to stop the bleeding and get a regular job. Walmart pays more than that.
Paying off your credit card debt is like getting a guaranteed return on investment of the interest rate you’d otherwise be paying!
So important to avoid this debt 👍
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
My heart breaks for this situation. I hope life is better now. My family suffered much damage due to this hurricane as well.
One cannot help but think that if the $80 bn + spent on weapons in Afghanistan had been spent on better housing protection against hurriacnes, some of these problems could have been alleviated.
I have been in this situation with credit card debt of 5 credit cards with 5 different banks totaling RM85,000. After listening to advice from financial advisor Dave Ramsey on his radio podcast, I was able to finish in 42 months. Thank you Mr. Ramsey.
48 years old no debt no credit cards my father taught me to pay cash I never seen him with a credit card save your money by what you want
I agree
I like to use credit cards.
@@krecikowi I do all the time. Paid in full every 2 weeks. air miles for all sorts of stuff
@@ImVeryBrad exactly. For me credit cards is like having a few % constant discount at the store, gas station etc. etc.
credit cards are great if you pay them off every month. you can get points to basically take vacations for free, get discounts at stores and on gas etc.
debt can be fine if you use it in a smart way. there are people that are millions in debt, but they own millions worth of real estate that is profit in the end.
I'm always amazed at the number of people who have a massive car payment and can't possibly afford it.
I wonder if they just never thought of getting rid of it, or if they didn't think it was possible, or what the mindset is. It's so common.
When I got divorced 13 years ago we had 161k in credit card debt. Did I mention we got divorced over it? Don't get into huge debt, it destroys your relationships and lives.
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
I’m so sorry to hear that. How could you even afford a divorce at that point?
I’ve never been married and I’m honestly curious - how do you accumulate $161K in CC debt? Was there an emergency or crisis, or was there a shopping/gambling addiction?
Do not EVER get into business with the mindset of "do it yourself" and staying small. The only mindset in business you can have is Massive action and Growth. This is what happens when you stay small. You stay poor. And have copious amou nts of risk
*that hurts... The interest in credit cards are almost always double digits* 💪😢
Black Vito - Moneyology
About $1500. a month interest on credit card
@@PInk77W1 yeah that's crazy
They would've charged off the credit cards. At this point, the interest is no longer accruing and has been sent to debt collectors. Credit card companies typically serve you higher interest rates if you continue to make payments. Not if you're behind a year.
It may start at around 15%, but miss a few payments and it's 30%-40% real fast.
@@nephetula yup
I live in San Juan, PR. You got to grind out here bc folks don’t pay. There is uber out here
That guy is in bad shape I pray he finds a way out
This guy is a great example of most of his problems being a frame of mind, he needs a paradigm shift. He's trying to do his own business which is a step in the right direction but he sounds defeated, and he's basically in a place where he doesn't believe it's going to get better.
Yea this is a tough one. I definitely feel his pain first hand . Not quite in this position but I too am $100k in credit card debt with $1 million in total debt and It sucks! I am happy to have a plan to pay it back but no doubt this is a tough one. Good luck man ! Keep hustling! Wish you the best !!
I really thankful for this show! It really opened my mind on a lot of different ways. GOD BLESS
Of course, Dave Ramsey always has great advice, but Dave needs to understand that the average annual income in Puerto Rico is approximately half what it is in the rest of the United States. I agree, he needs to increase his income, but that will be much harder to do where he lives.
So true Nancy! I live in a small town called lares. I'm a teacher and after Maria I lost my second job! I make 23000 yearly! My wife makes 9000 and we live rent free and we still can't make it! 2 daughters! But I stopped paying cc to survive and will start paying charged off debt soon!
Ruben Torres collectively your family makes $32,000 annually, you don’t have a house payment and you can’t make it? How?
@@aileencrane7700 after taxes, child care, food, utilities, insurance plus anything else we don’t know about like medications or medical bills that’s not a lot of money.
@@tatialo37 how are you doing a year later? What baby step are you on?
@@Sunday-ex7px if your making 30k a year in Puerto Rico you pay like nothing in taxes. If she's only making 9k sounds like its part time so childcare shouldn't be too expensive. Even in US food and utilities are around 500-700 a month so in PR your prob around 300-400. So that is 4k a month, no rent, let's say 10k in childcare which is generous considering your wife is prob part time and that brings you to 14k. With transportation and insurance prob around 25k. Thats 5-6k left over right?
Debt stacks up like the speed if light , Good luck to this man and his spouse 🙏
It blows my mind that some people can have so much in credit card debt. I'm not even talking about irresponsible spending: how do they even have credit limits that high?
The credit card companies are no more than loan sharks. They'll give you another card when you already have 10 maxed out. They'll give you a card to transfer your debt from other cards. They'll give you another card weeks after a bankruptcy. It's predatory lending.
I really wonder the same.
Tell me about it! I fell into the debt trap!
Can ya feel this mans pain , I'm in a cold sweat , hopefully he gets help to help himself and wife .
This guy is why I get paid cash back on my credit cards.
Lol
Seriously. The credit cards are taking from guys like this and doling it out in rewards for me. I'm afraid though once too many buffoons file bankruptcy on credit cards. Our sign up bonuses will be gone!
@@cutehumor I hope that was sarcasm
My credit score bounces between 750-772. My bank has an 8k limit on my line of credit, how do people get access to 100k in credit?
I can work on your score and debt
@@joelterrence4185 I don't have any debt lol
@@MrJohn-kb1eu isn't that cool lol.
The credit limit jumps up tremendously for business purposes not so much for personal stuff.
Some people have 15 to 25 credit cards, each with a limit of five grand or less, so it isn't hard to run up an $100k in debt. And a credit card debt that high is probably costing him $1500-$2000 a month IN INTEREST!!! That's insane.
"Oh, the interest on each card is only about $40-$50 a month."
Yeah, but you've got 20 credit cards!
My goodness. His CC debt is higher than all of my debts and mortgage combined. God bless this person for keeping at it and not choosing bankruptcy and most terrifying, suicide, to escape this financial crisis. Persistence is definitely something that must be taught in school just like personal finance.
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
This guy needs to find another line of work .
@@iconmain9791 bs
He's a complete idiot
50k is really good for puerto rico
Not You He’s not really making 50k
Dave is a doctor! That was masterful!!
This really shows, banks are lending to anybody with a pulse now a days
I don’t know if this would help, but there are usually oil and gas production positions available in the Arctic oil fields that pay in excess of $60k for “no previous experience required” workers. It’s a tough place to work, potentially hazardous, and the schedules can be brutal, but I know many people that have worked those jobs for a few years to help boost their income when they were struggling. Maybe not a great long term solution, but it could alleviate the development of financial “crisis”. Also, seasonal commercial fishing or fish processing can sometimes be a good gig.
Best wishes to Raymond.
Australia is on fire here Summer 2020.
People are struggling.
While demons fly through the sky
Bankruptcy is the fastest way out of this hole. I don't care what Dave says. Don't spend the next 20 years trying to pay this off. Go bankrupt and after 7 years you can rebuild your credit.
10 yrs.
He is trying to get people into good spending habits. Bankruptcy is a band-aid.
Dave Ramsey is also trying to teach people to take a moral high road by paying the debts they incur. Bankruptcy is a nuclear option that hurts the person doing it and many others who are involved (creditors, other customers of those creditors, family, business associates, any employees who may be involved, and so on). Choice: moral high road (more difficult, but it always is) or moral low road (easier way out).
@@johnc2438 True...and Dave did a bankruptcy
Couldn’t this all be solved if he just got a better job so he could afford to chip away at the debt? Forget the small business idea clearly it failed.
People gotta stop with these credit cards
I remember back to late 1970s or early 1980s when my husband applied for a master credit card he was turned down. We had no debt other than a mortgage and paid for everything using cash. Back then credit card companies were a lot more scrupulous on giving out credit cards.
Why
And i only have a 20$ balance on my credit card that’s due monthly. I can’t imagine having thousands of dollars due. My God. I only use it once a month and that’s for gas and that’s it.
Davelle Johnson that’s how I use my card as well. For my little baby subscriptions and freakin gas lol
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
Thats dumb. Get a rewards card I put 2k on it monthly and get free flights every year :)
Wow. That was the toughest, most depressing call I’ve heard in a long long time. I hope the guy is doing better.
Great time to file Bankruptcy.
Every Dave call where
"What do you make before taxes?"
"Oh I make *some ok amount* but then I have to buy merchandise, pay business expenses..."
*oh my lort*
My highest cc debt was $27,500.
Now zero
Cut up my cc.
It was a long hard struggle
But it was worth it.
Now I paid my home cash
And have large savings
Thx Dave.
I was in his shoes a few years ago.... I was being stupid with money, had car loan and credit card debt nowhere near his amount but I still felt stupid... I just found a job, worked hard to pay them off and learned not to do it again.
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
I can’t even fathom having 100k in credit card debt.
I have just over 4,000. And I am overwhelmed. I should be debt free by the end of 2020
Amanda stone 4K is pennies compared to this guy. You’ll knock it out in no time. Good luck.
Amanda stone you got this 🔥
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
Me either! I have 20k in Puerto Rico debt! Trying to pay off but now in charge offs!
🇵🇷 brother mete mano! Lo vas a lograr. Me alegra ver a otro puertorriqueño escuchando y siguiendo este programa. No te quites de ese negocio, sal de las deudas y mete mano porque hay potencial ahí.
Juan Rios hablo un poquito de español y quiero entender esa frase “mete Mano”... ¿significa “a por ello” o algo así?
jmm_2104 acá en PR se utiliza como anímate, motívate, hazlo, sigue adelante.
Raymond you have to get out of debt fast! Sal del carro y trate de no gastar! Yo vivo en lares y estoy pasando lo mismo! Olvidate de Las cc que ellos no puede hacerte nada! Llevo tres anos sin pagar porque no me da y soy maestro de ingles! Vovi en casa de mis Papa's con mis familia! Simplemente no da! Y mi esposa trabajan tambien! No da! Decisions vivir minimalista! Nada de lujo y Los dos carros viejos! No salimos tampoco! Tu lo puedes lograr y pon fe en Dios! Dtb!!!
Este programa me ayudo mucho! Ya tengo mi emergency fund!!! Ahora a pelear con Los acreedores buitres!!! I'm going for debt settlement!!!
Dave y sus principios me han ayudado bastante, bueno ver otros de PR escuchando.
7:00 _"We decided to open our own business."_
*_"It's not going well."_*
😂 😂
I wish you all THE BEST Raymond.
The tragedy that happened are hurting alot of people in Puerto Rico.
Wow I recently paid my credit card down from $4,000 to $290 and I thought I was in serious debt 😅🥴
Congratulations 🍾🎊 on getting your credit card debt down.
@@maxinef6654 thank you! It will be 100% paid off next week :)
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
You were
johnson text kimblehacker23 on IG he got my credit card debt clear and I'm so happy
I don't get how people get that much credit card debt. Is it from having so many cards? Constant credit line increases? I'm only asking because I have 4 total credit cards and the total limit is $3,800.
I was a student and unemployed. Visa called me, knowing this, and raised my limit from $2000 to $8000 without me asking.
My goodness! That’s a lot of credit card debt!
Rashad Muhammad His low income is what makes his situation even worse
Aww man, praying for Raymond🙏🏾
About $1100. A month interest before one dollar is paid to the debt
If you can’t find a good job in Puerto Rico, he needs to move to a low cost of living area in the mainland. I don’t know why Dave didn’t mention that as an option. Plenty of fast food places are offering $15 an hour in the Midwest right now.
bankruptcy! house and retirement are saved
thats literally 20k a yr in interest
I have heard one episode where Dave said, “yes you are bankrupt” and I feel like this episode should have been the 2nd time ....
Good thing Puerto Rico only has a 4% federal income tax.
But their sales tax is almost 13% 😬
@@delir796 I should leave California that sounds great 😂 I pay 10.25% sales and 10% income just to my stats. Plus federal taxes
Everybody LOVES Raymond. Sounds like a Sitcom to me.
😂😂
Dave’s advice he gives to people regarding credit cards in lawsuit status is beyond scary. I worked for a firm for almost 10 years are they slimy absolutely but the advice these people are given is potentially putting them in a awful position regarding wage garnishments and bank levys. As horrible as it is to be sued just call the law firm and make a payment arrangement. Avoidance or trying to low ball a settlement is not a way to make the problem go away. Just my 2 cents 🙂
Dave, like many finance advice people, think they have all the answers when they have the same answer to every problem. Make more money, have less expenses.
@@robcochran6213 Well, making more money is often the solution.
If you're making that little money, you're very likely judgement proof.
There’s no such thing as judgement proof. There’s nothing they can do to act on it like garnish wages. They can put a lien on any property though.
Lolz, what is your advice then?? Interest and late penalties on $100k balance is more than their entire income. So you seriously think they are going to be able to pay it if the CC company takes them to court. Bro. Wake up. They are bankrupt if someone pushes the issue. The houses will be gone, the car gone, the business gone and there is nothing left to take for the CC company. I’m pretty sure the company would be aware of how bad the situation is and settle the debt years from now for a small fraction. If not he is bankrupt and it’s over and they get zero anyway.
owe 26k for a car. 100k credit card isn't that 126k debt ?
The banks love this man, he is going to be paying so much interest smh. I hope he finds a way out.
He won't be paying anything because he will never make any money
And not eating out at restaurants; and yes continue to drive that 10 year old vehicle if it’s still runs well ( part of the four walls). He has to go back to earning an income. Ijs
"Bayamon" is right outside of "San Juan" it literally could not be any closer. It isn't a small town on the outskirts either it's actually a pretty big economy because it's connected directly to "San Juan". So I can't see why he would have a lack of client's unless he just isn't advertising or his shop is in a bad location.
So many people in so many crazy situations. It’s crazy.
I have a feeling this guy will never get his finances in order.
Redbull357 He sounds young and willing to change. I think he can do it.
Oh yes you are right about that
With that low income... how do you get your hands on 100,000 dollars?
I think some people open like 10 lines of credit lol
Banks are willing to lend money to devil himself is he passes by, that is how earn money. I live in Spain and several years ago I received a letter offering an American Express card. I immediately thought "this guys are so greedy and desperate to get customer if the have send this letter to me " !!!
Go teach english in south east asia. 40k usd x 2 each with housing included. Easy.
I read that this guy moved overseas and lived in a cave and has been living there for many years. He has no plans of paying off the debt.
He called him Raymond so the debt would transfer. Smart man
Used cash advances on credit cards for a down payment on a house when the first house wasn't paid for. Brilliant.
never own property near the ocean or on an island people. Live there, rent something, let someone else deal with the natural disasters. Owning property inland is far less risky, and far less maintenance. Buildings near the ocean rot apart much faster and tend to get hit by hurricanes. So if you MUST live near the ocean go with either a solid concrete hurricane proof building, or a bamboo hut that you just build another one after each hurricane. Property owners in Florida on the coast are just waiting for the next big one. idk why people don't learn.
rustyscrapper agree 110% with this comment. Not 100%, but 110%!!!!!!!!
rustyscrapper I guess most care about the warm weather and warm water, and don’t care about the harsh repercussions that come with warm temps. There’s no such thing as a free lunch. Pay now or pay later... you couldn’t give me a free house in hurricane alley. If you did, I would just sell it to some other unsuspecting instant gratification idiot.
its Puerto Rico dude. you are asking him repeatedly how he's going to get his income up DRAMATICALLY? its PUERTO RICO DUDE
So there's no way to earn more than he's already doing? i don't believe puerto rico is that destitute of a nation that he and his wife could find separate work that would at least increase what they're earning now.
@spirals 73 so there's no wealthy people there?
Also, he could move. Moving is an option.
All the best brother. God bless you. Really feel for your family.
Bankruptcy and start over. I can't believe Dave won't say it.
Bankruptcy works, just don’t expect Dave to say it that’s not his thing
Mark Rampersad I thought his thing was good financial advice.
Terry Waters Bankruptcy and lose the business home and car all at once? Yeah, that’s great advice.
If you want someone to recommend bankruptcy then don’t call the Dave Ramsey show.
Terry Waters Still stupid and not a guarantee that some assets won’t be lost. Totally ruins your credit when you could very feasibly pay it back yourself and save a lot of future pain. Everybody always goes to the easiest way out and almost always that’s at the detriment of their future.
He should go to a tourist area in South Florida and buss some tables. Or wait some tables even better.
God bless everyone
Than you from another Puerto Rican. 🌼
Did they not have insurance on their home that was destroyed? Are they paying a mortgage on a "totaled" house or piece of land? I'd demo the house and sell the lot for a start. I can't think of a bank that would even lend on a home without making the owner pay for house insurance.
Not every natural disaster is covered by insurance
Good lord! I would be absolutely sick to my stomach with that amount of debt for freakin credit cards!
I’m almost done paying off my $400 credit card and that’s giving me a headache. I feel bad for the caller though because of the natural disaster. When I used to work for a retail company that ships orders internationally, we didn’t ship anything to Puerto Rico for months because of the hurricane.
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
Listen to uncle Dave - he knows what he’s talking about- wish you luck my friend - you can do it.
$3600 credit card debt, but I am not worried about it.
About $1500. Monthly interest in credit card balance
Ouch😮
There is no living to be made in the repair of much electronics today. Manufactured by robots and priced so inexpensively, a large percentage of it is throw away and replace!
@Mr. Wick
If I have a piece of defective electronics, it's going in the trash, not another owner. That's why I will not buy much of anything today in used condition.
This call is a big yikes.
They're not making any money and cost of life in Puerto Rico is super high. A $26k car is a base Elantra there
The Puerto Rican government should call into the Dave Ramsey Show becuase they're in so much debt that they will NEVER pay it off!!!
Raymond! I’m from Ponce and live in Salinas, I have an iPad needing repair, tell me where your shop is so I can go. We need to help esch other out. Let me know
Hope this guy is doing better now
Cars in PR cost double what they cost in the USA
They really should follow up with these people!
Can we help this dude out? I feel bad
Another genius video from dave that can basically be summed up by "Make more money 4head".
I'm sure the economics of Puerto Rico are a bit different, but this sounds like a business that you could run out of your home. And I don't see why there is a need to own a $26,000+ vehicle on such a small island. I just checked craigslist, and it looks like they depreciate there just as quickly as they do on the mainland.
Text *kimblehacker23* on Instagram is an expert.. He got my credit card fixed ASAP ...
I don’t agree bankruptcy get out
He needs to market. Phone repair is a really good business. Marketing, customer service & presentation is how his business will thrive.
Dave: is there anything you can do to dramatically increase the profits of your business?
Every listener: really dave?
Dang! Raymond and his wife are suffering from what the late Michael Gerber would call an 'Entrepreneurial Seizure'. [See "E Myth".]
This is definitely an income problem.
I feel for these two. May they find their way out of their mess with Dave's help.
When he said hi Raymond it reminded me of times I said things like hi I'm years old when I was nervous and asked to say my name and age it all wanted to come out at once 😂. But yeah no I feel like dude need bankruptcy this is a dumpster fire
His shop is not doing bad. 46K a year is good in PR. Now his 26k car and the credit cards is what’s killing them