10k seems manageable, so people dont see it as a threat. But when your credit card debt is more than your annual salary..... Thats when panic sets in and plastic surgery occurs
My breaking point was right under $12k. I was making in the mid 20k range. I am making 45k-55k now and have paid it down to 5k. Hoping to pay it off this year.
Yep! I AM that lady! I paid it ALL back and now I am thriving. Fast forward a year and I have no liabilities and all assets and growing! If I can do it, anyone can! Thanks Papa Dave for your much appreciated guidance 🙏
I am from Dallas and house demand is more than builders can build. And when people buy new houses, they want to fill it up with everything new and everything at once. I have seen people filling carts with art pieces and map of the house to put on every wall. No wonder people are broke. We bought a house and we made a promise to not go crazy. For first year our 2nd floor was empty, walls were empty, for 6 months we didn’t have a dining table. We bought when we had money and half of the stuff we bought is used stuff off Facebook marketplace locally. We still have 2 rooms empty and we are not in any rush to set them up. And I make double the money than her.
Also its weird but I'm in CA and the affordable housing market is high but they keep building condos and expensive places. The housing market is very strange.
If I don’t have cash for it, then I don’t need it. Having said that, we do have money set aside for emergencies. Blown tire, repairs to our cars, replace an appliance. Things like that
I execute collections in Texas, and you can get a hold of the bank account. It's just dicier for the debt collector, and possibly more expensive. Also, never send a personal check. It's got the name of the bank and account number on it and that is all they need to clear out your bank account.
@@pearlperlitavenegas2023 You've asked a very complex question. In Texas I have only done wage garnishments, bank levies, and recorded abstracts against property. If you are worried about a possible foreclosure, you should seek a out local attorney. My educated guess though would be yes, they can record an abstract on the property and when you go to sell they will collect then and 10% interest that has accumulated in the mean time. Unless they have a judgment for foreclosure, I do not believe they can foreclose on the property and collect that way. To answer your question of can they "touch" your homestead, my short answer is yes.
@@sitiwrattz Forclosure?! Yikes! I'm not in any Financial Distress. I was just curious since I live in TX & have heard TX is a debtor friendly state & creditors can't take a debtor's homesteaded property, garnish wages, blah blah blah.
She actually said she uses YNAB instead of Every Dollar on Dave Ramsey’s show. Lol I mean I totally understand but shucks... lol This is coming from someone who has used Mint for 10 years.
@brutha kc LOL I know I was so shook when she brought up YNAB hahaha And Dave shut that down so quick (obviously, since it competes against his app/business) I love YNAB though, it has absolutely changed my life
Not with interest. Interest is the root of all evil. It’s why places like Africa are in never ending debt from all the interest. It’s the reason why students can’t pay anything off from all the interest piled up on top of that.
@@ramalam1988 Why should anyone/company let someone borrow money if there is nothing in it for them then? Just do it out of the goodness of their heart?
@@ramalam1988 seems to me africa has bigger issues than borrowing money with interest. just spitballing, but corrupt governments, ethnic wars, islamic terrorists, etc may also be contributing factors.
70k in credit card debt and at 20 % interest that is 14,000 USD in interest every year. (with 15 % it is 10,500). When does the interest charged equal what they lent her ? - It is with factor 70 (or 72). You need to multiply 20 with 3.5 to get 70 so they need aprox. 3.5 years. or close to 5 years with 15 % interest (5 times 15 would be 75). They would never have made those deals with a reasonable person. But they have a good chance to get at least back what they gave her as she continues to pay (a lot of the 70k are likely interest she let pile up). They made money like crazy off her (I guess she did not pile that up in one year - a person that does not have the bad and costly habit can't possibly pull that off, she / he would have a mental breakdown before. You have to see it over her life cycle as CC customer. She has been fleeced by them for years already.
@@God.Almighty borrowing money with interest is what led them to be poor cause of the non ending debt they’ve been crushed with. What are you talking about other problems . That’s the biggest problem they have. It’s what put the economy on its knees. Dave Ramsay preaches the lord in the Bible yet Jesus Christ condemns usury /interest. All past nations in history have.
I can’t breathe just seeing the title of this video! How can people live with huge debt? People think debt is part of life but it’s not. It’s part of miserable life. Enhance your life by avoiding debt. 😊
What would kill ME is that 20 % on 70,000 are 14,000 PER YEAR. (if they "only" charge 15 % it is still 10,500). I mean for a biz or a mortgage that amount can be justified (at reasonable interest rates). But annually giving 14k to the vultures ??
I don't understand how someone runs up a year's income (gross, not net) of credit card debt. But it's good to hear that this woman is attacking the problem and not calling into Dave asking if there's any way to make this go away without sacrificing lifestyle or working more.
You have to wonder what went through this simpleton's head when each month she saw cc statements coming in: $15K, $25K and so on. "Oh I'll just keep goin'! Ah jes bought mah new home!"
I love these people that borrow sign loan agreements that clearly provide terms, they borrow money, they don’t pay it back and then claim THEY’RE the victims. Wrong! You may be paying crazy high interest, you may be getting collection calls, you may be getting sued - but YOU created this mess. If YOU lent someone money and they didn’t pay you back, you would go after them for it, too. I get tired of Dave acting like these lenders are in the wrong all the time when they’re just trying to get the money back that is legally owed to them.
I swear, some of these people sound like they just want to call in and talk and any advice Dave gives them just kind of lingers in the air and then they keep on talking..
Isn't it morally wrong to rack up $70k in credit card debt, enjoy, use, and consume whatever that $70k bought, then rip off the credit card companies for pennies on the dollar?
I agree. I feel the same about student loans. You take out hundreds of thousands of dollars and make more money than the GDP of Cambodia, yet you “deserve” to drive a bmw and live in a 5000 square foot house but not pay your loans back. I agree though that there should be upfront counseling and the interest rates are a bit high.
We can never justify that morally. O I agree that is a mistake to rack up debt to the level where you couldn't even able to make a minimum payment. But the debt collectors have already bought the debt on pennies on dollar. So it would be okay to negotiate and settle (unless you did rack up debt to dodge willingly).BTW credit card is a worst financial instrument.
Debatable I suppose. Credit card companies are notoriously predatory. At a 26+% interest rate, I wouldn't feel morally wrong for paying off the debt at cents on the dollar at all.
This video lost me when he was trying to steer her to use Every Dollar instead of YNAB. A budgeting app is a budgeting app. She just started using it and tracking her spending, that's the important part. You don't take someone out of that ecosystem to force her to use your product instead. That's just sleezy sales and could set her back from progress if she doesn't click with it.
@@crooks_da_great7789 he is, and I have no issues with him telling people to use his app when they have no system in place. To tell her that what she's using is wrong doesn't help her, and it's not true, because fundamentally they're the same (zero based budget tracking). The act of tracking your spending is the important part, no matter how you do it. If she felt comfortable with ynab, she should keep using it. She can still follow Dave's advice in other areas and follow his traditional program.
I had this much credit card debt. I did a cash out refinance on my home to consolidate it. I canceled the credit cards after that, waited for the home to increase more in value while saving cash then sold it. Best decision ever.
Why not just get your budget together, learn from your mistakes and learn how to stay away from this kind of debt, and then file a chapter 7 bankruptcy (if you can). I'd kill my credit with a bankruptcy before sacrificing everything for years just to pay the interest rates on those cards, I mean at this point your credit score can't get worse anyways. Credit card companies take advantage of people to trick them into debt, stick it back to them, then don't fall for the credit card BS again.
I just paid off 6000 on two credit cards last week. I was making minimum payments for over 23 years until last month I decided to just pay them off, should’ve done that long time ago. Don’t trust family and cousins because they borrowed money then won’t pay you back and then you’ll go broke and have to rely on credit cards. It’s been 23 years and they haven’t payed yet, if I bring it up then I’m the bad one, I done being nice
Dave is usually spot on, but not this time. I know from experience, you don't have to give a debt collector/attorney your bank account info for them to put a hold on your accounts after they've secured a judgement against you.
Why didn’t he ask how much her house is worth? Maybe she could wipe this out by selling her house with how much markets have skyrocketed. I’m sure someone from CA would buy her house sight unseen
@@jzam3220 not at all I started at 15 I'm at 18.26/hour and opportunity for bonuses a co worker made 26k in bonuses I didn't make that much in bonuses. Look up alliance data services if your interested.
You could have saved money & gotten a "template" from the internet. I met with a lawyer years ago and realized they were going to charge me a ton of money. They think people are stupid. I did it myself
Disagree with Dave's laughing at not paying the credit card companies and making them dance for your money. By using the card you made a promise to repay and if you don't shame on you. No laughing matter.
I’ve listened to Dave Ramsey for years. I was in the middle of going through getting rid of my debts by working some delivery jobs on the side. One day I actually delivered some food to Dave’s building for a corporate meeting. The bill for the food was a few hundred dollars. I went in to give them the food and get the receipt signed. When I left I looked down at the receipt and saw they left a $3.50 tip on a $300+ bill. I thought for sure this would be the business where they understand what delivery drivers are doing and how much they rely on tips, but this has left a bad taste in my mouth for years.
70K isnt that much compared to some I've heard. At least she's doing something about it. I heard a guy once talk about something else, Dave asked how much CC debt he had - he answered very casually like he didn't care - 175k.
@@beastfromtheeast9318 if you owe $15000 on a credit card and you settle for $2000. The credit card reports the $13000 they lost to the IRS and you owe taxes on it.
I would cry! I once met this pharmaceutical executive guy and he had all this stuff!!! And we were in his garage and he just told me man I was tired of not having anything lol!!!
My wife and I have been at 17k paid it off, 8k paid it off then most recently 14k and at 2k about to pay it off! I’m so tired of stupid credit cards and now officially on a budget and want to get away from ever having to use them. It’s just so darn easy to go down that rabbit hole.
She found a budgeting software that works for her? Let me tell her it sucks and to switch completely. Hope it sticks and that she doesn't lose the progress or drive she developed!
Same. Late payments are just paying the interest 🙄...I'm so tired and pregnant. And working 55 hours a week and have a toddler 🙃 and have to find a CAR. Prayers appreciated 👏🏾.
Back in the 1800’s if you owed debt and you wouldn’t pay your head would be on stick. If it was the same way I think people would think before getting a loan.
This caller called Dave 12 months ago. It will be interesting to see how things have progressed since. Hopefully things are improving for her (the caller) and the debt is slowly being paid off 🙂
I can update you because I am that caller. I am completely debt free after lots of work with Uber Eats as the side gig every weekend and some nights after work and throwing everything towards the debt. I got a new job in a new town making over $30K more. Sold my home to move to pay off the remainder of my debt and have a hefty amount in a high yield savings account to go towards a down-payment on my next home and it continues to grow. I get super excited watching my retirement accounts grow each month and being debt free is amazing!!!!! I will never go back there again! Mark my words.
Some people have 10 jobs to get their hours up per week. I hoping that those in debt are paying for their stupidity by working 70 - 100 hrs a week at least.
after watching this twice, i keep missing any part where she said what the 70k was for. did she use this for. regardless, the interest per month had to have been at least $1400 a month.
I have over 150 grand in lines of credit on a total 24 cards. Never been late or behind. I have lost 3 homes. Being Responsible does not always pay off. It hasn't for me.
![ILLSLICK - KILLSHOT REMIX [FULL VERSION]](http://i.ytimg.com/vi/RIK8RrqIAzE/mqdefault.jpg)
Say goodbye to debt forever. Start Ramsey+ for free: bit.ly/35ufR1q
You better thank God for 500.00. Lol 😂
Thanks to the baby steps I now have ZERO credit card debt!!! It’s an amazing feeling! Release the chains!!
Congratulations 👏
Congrats I will be debt free in early March
Congrats!
How long has it taken to pay it off?
@@ichirot3348 it took 22 months to get ride of them all! Never ever again!!
Congratulations!
She can do it. I was at 24k January 1st 2020, but Im currently at 6600. This will be fully paid by March and never again.
For a second I thought you said you went down from 24k to 660k, and I was like what?😅, lol
@@ll-vt1ol I think at that point, I’ll be better of filling
bankruptcy. Lol 😂
Congrats!
Congratulations Tony
How did you do it?
"Bless your heart" = southern for "You idiot" 😅🙈
Yep, I’m a southerner and that’s exactly what that translates to!!
🤣🤣🤣
That's funny :)
😩
Test pilot for broom factory = witch
I just don’t understand why someone doesn’t do this when it gets to $10k instead of $70k
Because they have smooth brains
10k seems manageable, so people dont see it as a threat. But when your credit card debt is more than your annual salary..... Thats when panic sets in and plastic surgery occurs
It was 22k for me. Never ever again!
@Juan I freak out if I gain 5kg and immediately correct it
My breaking point was right under $12k. I was making in the mid 20k range. I am making 45k-55k now and have paid it down to 5k. Hoping to pay it off this year.
You go girl! Stopped the bad habits, made a budget and picked up a side hustle. Stick with it. Don't let the debt collectors intimidate you.
Yeah never pay back money that you borrowed...you go girl......
@@davidchrist428 you must be slow
Yep! I AM that lady! I paid it ALL back and now I am thriving. Fast forward a year and I have no liabilities and all assets and growing! If I can do it, anyone can! Thanks Papa Dave for your much appreciated guidance 🙏
Can't imagine how she feels. I had like 2500 and felt overwhelmed
$2.5k is a bad joke to me
Credit card debt is the worst
It’s hell.
Wait until you get some Mob debt
@@lukeholman3180😳
Can see the love Rachel has for her dad. :) Joy to see
Agreed. It warms my heart!
This girl will come out on top. She’s finally taking care of her finances. Good for her!!!
This woman is the first person to have a full blown conversation with Dave on air. 10 minutes yall 😅
$70k at 30 per cent, that is making the banks rich.
Someone needs to pay for my free credit card travel I guess 😁
now I see why banks execs get yearly bonus
If I can find an ETF with such ROI.
@@howlbeast execs in any industry get bonuses
Not just the banks.
I get $900/mo. dividends from MasterCard and Visa in my Roth.
It's honestly incredible how well she's turning things around.
I am from Dallas and house demand is more than builders can build. And when people buy new houses, they want to fill it up with everything new and everything at once. I have seen people filling carts with art pieces and map of the house to put on every wall. No wonder people are broke.
We bought a house and we made a promise to not go crazy. For first year our 2nd floor was empty, walls were empty, for 6 months we didn’t have a dining table.
We bought when we had money and half of the stuff we bought is used stuff off Facebook marketplace locally. We still have 2 rooms empty and we are not in any rush to set them up. And I make double the money than her.
I am moving into my first place in April and I’m definitely screenshotting this so I don’t go crazy. Thanks!
Well done...👏🏿👏🏿
Well said. Forget appearances! Take your time. Also thrifting can get some AMAZING and unique items, its not just a money saver 💜🤗
Also its weird but I'm in CA and the affordable housing market is high but they keep building condos and expensive places. The housing market is very strange.
Love your comment. That's how it's done!
Watching from the UK 🇬🇧 and addicted to these highlights. Motivates me to do better do more and be debt free 😁
I always wonder why people don't stop using the credit card after $5k. I'm not sure it makes sense to carry up to $70k in credit card debt. 😟
Inflation. All the things I don't really need now will be much more expensive when I don't need them in a couple years!
She was in the dark spending like the Joaness, now she's coming toward the light.
If I don’t have cash for it, then I don’t need it. Having said that, we do have money set aside for emergencies. Blown tire, repairs to our cars, replace an appliance. Things like that
Life happens
@@704ab so the credit card companies should cover peoples ends meet?
I execute collections in Texas, and you can get a hold of the bank account. It's just dicier for the debt collector, and possibly more expensive. Also, never send a personal check. It's got the name of the bank and account number on it and that is all they need to clear out your bank account.
Can they touch your homestead????
@@pearlperlitavenegas2023 You've asked a very complex question. In Texas I have only done wage garnishments, bank levies, and recorded abstracts against property. If you are worried about a possible foreclosure, you should seek a out local attorney. My educated guess though would be yes, they can record an abstract on the property and when you go to sell they will collect then and 10% interest that has accumulated in the mean time. Unless they have a judgment for foreclosure, I do not believe they can foreclose on the property and collect that way. To answer your question of can they "touch" your homestead, my short answer is yes.
@@sitiwrattz Forclosure?! Yikes! I'm not in any Financial Distress. I was just curious since I live in TX & have heard TX is a debtor friendly state & creditors can't take a debtor's homesteaded property, garnish wages, blah blah blah.
She made mistakes but she is killing it now. Great job and good for her!
I can't fathom $70k in CC debt. Wow!
“I have 70,000 in debt”
Dave- “sell your family”
Eventually he'll say: "sell yourself"
@@jojachow well u r the biggest liability so it makes sense
Only if your not doing anything about changing it! She's doing amazing ☺️
Good luck 🤞
indentured service
😂😂😂😂
I feel bad for this lady. I wish her the best and everyone else in debt.
Should I use a rival budgeting product? "Hmm no."
She actually said she uses YNAB instead of Every Dollar on Dave Ramsey’s show. Lol I mean I totally understand but shucks... lol This is coming from someone who has used Mint for 10 years.
YNAB is the nutz
Hated ynab and use mint
YNAB MASTER RACE ༼ つ ◕_◕ ༽つ
I used to use mint, YNAB was too confusing for me, and now use EveryDollar which is truly simple AND aesthetically pleasing. 😊
@brutha kc
LOL I know I was so shook when she brought up YNAB hahaha
And Dave shut that down so quick (obviously, since it competes against his app/business)
I love YNAB though, it has absolutely changed my life
Imagine expecting a person to pay back the money they borrowed - it's un-American!
Not with interest. Interest is the root of all evil. It’s why places like Africa are in never ending debt from all the interest. It’s the reason why students can’t pay anything off from all the interest piled up on top of that.
@@ramalam1988 Why should anyone/company let someone borrow money if there is nothing in it for them then? Just do it out of the goodness of their heart?
@@ramalam1988 seems to me africa has bigger issues than borrowing money with interest. just spitballing, but corrupt governments, ethnic wars, islamic terrorists, etc may also be contributing factors.
70k in credit card debt and at 20 % interest that is 14,000 USD in interest every year. (with 15 % it is 10,500). When does the interest charged equal what they lent her ? - It is with factor 70 (or 72). You need to multiply 20 with 3.5 to get 70 so they need aprox. 3.5 years. or close to 5 years with 15 % interest (5 times 15 would be 75).
They would never have made those deals with a reasonable person. But they have a good chance to get at least back what they gave her as she continues to pay (a lot of the 70k are likely interest she let pile up).
They made money like crazy off her (I guess she did not pile that up in one year - a person that does not have the bad and costly habit can't possibly pull that off, she / he would have a mental breakdown before. You have to see it over her life cycle as CC customer. She has been fleeced by them for years already.
@@God.Almighty borrowing money with interest is what led them to be poor cause of the non ending debt they’ve been crushed with. What are you talking about other problems . That’s the biggest problem they have. It’s what put the economy on its knees. Dave Ramsay preaches the lord in the Bible yet Jesus Christ condemns usury /interest. All past nations in history have.
I had about $15,009 debt at one time. I paid it off. Why because I charged the stuff.
If you were a real American you’ll run up $65k in debt
I can’t breathe just seeing the title of this video! How can people live with huge debt? People think debt is part of life but it’s not. It’s part of miserable life. Enhance your life by avoiding debt. 😊
What would kill ME is that 20 % on 70,000 are 14,000 PER YEAR. (if they "only" charge 15 % it is still 10,500). I mean for a biz or a mortgage that amount can be justified (at reasonable interest rates). But annually giving 14k to the vultures ??
Keep learning from your own mistakes...
I don't understand how someone runs up a year's income (gross, not net) of credit card debt. But it's good to hear that this woman is attacking the problem and not calling into Dave asking if there's any way to make this go away without sacrificing lifestyle or working more.
It’s called stupidity
70,000 is a lot of credit card debt. Whew.
You have to wonder what went through this simpleton's head when each month she saw cc statements coming in: $15K, $25K and so on. "Oh I'll just keep goin'! Ah jes bought mah new home!"
😂 “just slam the phone down!” Ha bye bye
A cell phone? Break a $300 screen
Been there, not to that extreme, but I’ve been there. It’s like one day you look up and realize all the debt you’ve accumulated.
Thank you!!!!!!! Now im debt free the best feeling ever
Just read the title, go ahead and cut those cards up
Dave barely had to speak she's a boss taking control
I listen to these ALL day at times. This was a very good informative call. I salute Dave and that teachable woman.
I would be a wreck with that much CC debt literally chocking on my own air everytime I breathe.
I cant believe people do this
She has more debt then i spend money in my life
I can't believe Dave didn't mute this a lot sooner.
This lady is hurting my visa, amex, and mastercard stocks! Haha
Ditto 🤣
I can understand forgiving the interest but not paying the principle is stealing
I paid off mine and will never get into credit card debt again
Visa and mastercard are not banks... they get their revenue from the transaction fees
She's doing well, but she keeps rambling on and on.
Wait until the the credit cards sue you , settle as fast as you can.
“I don’t know.” Smartest thing the caller said.
Unfortunately she said it about the wrong thing. You need a budget is the best budgeting app on the market
I love these people that borrow sign loan agreements that clearly provide terms, they borrow money, they don’t pay it back and then claim THEY’RE the victims. Wrong! You may be paying crazy high interest, you may be getting collection calls, you may be getting sued - but YOU created this mess. If YOU lent someone money and they didn’t pay you back, you would go after them for it, too. I get tired of Dave acting like these lenders are in the wrong all the time when they’re just trying to get the money back that is legally owed to them.
I 100 percent totally agree with this comment very well said
This is common sense!!! When I have signed for anything they alway explain the terms, so I never understand this.
agree! I dont get why people do private sector loans at crazy high rates, maybe its desperation, could be stupidity, or addiction
Spot on
I had a cc debt $27,500. I paid off every penny.
It hurt. But it was my fault. No one else’s
$70,000? I would have stopped at $5,000.
I swear, some of these people sound like they just want to call in and talk and any advice Dave gives them just kind of lingers in the air and then they keep on talking..
Isn't it morally wrong to rack up $70k in credit card debt, enjoy, use, and consume whatever that $70k bought, then rip off the credit card companies for pennies on the dollar?
I agree. I feel the same about student loans. You take out hundreds of thousands of dollars and make more money than the GDP of Cambodia, yet you “deserve” to drive a bmw and live in a 5000 square foot house but not pay your loans back. I agree though that there should be upfront counseling and the interest rates are a bit high.
Yup. It’s theft in my opinion. If you borrow money you pay it back. No exceptions.
We can never justify that morally. O
I agree that is a mistake to rack up debt to the level where you couldn't even able to make a minimum payment. But the debt collectors have already bought the debt on pennies on dollar. So it would be okay to negotiate and settle (unless you did rack up debt to dodge willingly).BTW credit card is a worst financial instrument.
Agree as well! I'm not hearing a job loss, health issues, medical bills, etc. Probably the house issues were a 40k kitchen and bath remodel lol.
Debatable I suppose. Credit card companies are notoriously predatory. At a 26+% interest rate, I wouldn't feel morally wrong for paying off the debt at cents on the dollar at all.
This video lost me when he was trying to steer her to use Every Dollar instead of YNAB. A budgeting app is a budgeting app. She just started using it and tracking her spending, that's the important part. You don't take someone out of that ecosystem to force her to use your product instead. That's just sleezy sales and could set her back from progress if she doesn't click with it.
Would a Pepsi spokesperson endorse Coca-cola? He's well with his right to promote his business especially on his business's broadcast show
@@crooks_da_great7789 he is, and I have no issues with him telling people to use his app when they have no system in place. To tell her that what she's using is wrong doesn't help her, and it's not true, because fundamentally they're the same (zero based budget tracking). The act of tracking your spending is the important part, no matter how you do it. If she felt comfortable with ynab, she should keep using it. She can still follow Dave's advice in other areas and follow his traditional program.
And I’m over here using google sheets for free 😂😂😂
All debt is a JUNK DEBT!
Nope
except for a mortgage at 2.875%
@@xxxBradTxxx I got 2.65% lol
I had this much credit card debt. I did a cash out refinance on my home to consolidate it. I canceled the credit cards after that, waited for the home to increase more in value while saving cash then sold it. Best decision ever.
Yeah?
Why not just get your budget together, learn from your mistakes and learn how to stay away from this kind of debt, and then file a chapter 7 bankruptcy (if you can). I'd kill my credit with a bankruptcy before sacrificing everything for years just to pay the interest rates on those cards, I mean at this point your credit score can't get worse anyways. Credit card companies take advantage of people to trick them into debt, stick it back to them, then don't fall for the credit card BS again.
I just paid off 6000 on two credit cards last week. I was making minimum payments for over 23 years until last month I decided to just pay them off, should’ve done that long time ago. Don’t trust family and cousins because they borrowed money then won’t pay you back and then you’ll go broke and have to rely on credit cards. It’s been 23 years and they haven’t payed yet, if I bring it up then I’m the bad one, I done being nice
Dave is usually spot on, but not this time. I know from experience, you don't have to give a debt collector/attorney your bank account info for them to put a hold on your accounts after they've secured a judgement against you.
Bought a house with $70k CC debt? How did she get a mortgage?
Sounds like she bought it then needed repairs
Why didn’t he ask how much her house is worth? Maybe she could wipe this out by selling her house with how much markets have skyrocketed. I’m sure someone from CA would buy her house sight unseen
"Test pilot for a broom factory" 😂😂😂
Test pilot for a broom factory haha! Love that 😂
I agree with Ramsey on most things, but lets not encourage people to rack up debt and then do these dirty tactics.
"Biblical principles"
Yep I work at a collection company whenever I help someone get a settlement I hope they are with Dave ramsey
How much does that pay? If you don’t mind me asking.
@@jzam3220 not at all I started at 15 I'm at 18.26/hour and opportunity for bonuses a co worker made 26k in bonuses I didn't make that much in bonuses. Look up alliance data services if your interested.
She put her coffee mug down when she heard the 70k lol
“You the only one in America that have a phone number in the system that works everyone else doesn’t” CLASSIC
You could have saved money & gotten a "template" from the internet. I met with a lawyer years ago and realized they were going to charge me a ton of money. They think people are stupid. I did it myself
Disagree with Dave's laughing at not paying the credit card companies and making them dance for your money. By using the card you made a promise to repay and if you don't shame on you. No laughing matter.
I've no sympathy for credit card companies. We're OK with them ripping off consumers, but not OK if a consumer rips them off?
If you can't afford it, you need to take care of yourself before taking care of the banks.
@@996rick if they rip u off
Call the law
LOL. YNAB is better, she realised it, and announced it loud and proud to Dave, who is the competitor xD
I went from being super annoyed with this caller to super proud of her. I’m rooting for her.
Me too, it’s amazing how she picked her self up and getting out this mess.
Who is in her corner to correct this bad behavior at 10k, 20k, even 30k in debt?
I felt like the every dollar budget was too generic, too. I use an Excel spreadsheet.
Same here!!
I think if people run up debt then they should be held accountable for that debt. They made it happen.
Nah. Just settle with the companies
It is one thing to settle, but Dave kind of celebrates it sometimes. She did borrow the money. Not paying it back is theft. We all pay for it.
You don’t know if people actually need money for emergencies. Not everyone makes 200,000k a month. Chill out.
Yeah let’s bring back debtors prison 🙄 get off your high horse
I agree. My mom told me to file a proposal. I refuse. I ran it up, I'll pay it off
Oh Wow.. She makes $78,000 and is in all that credit debt ... WhooWeee.... Hopefully once she cleans it up she keeps it that way.
I’ve listened to Dave Ramsey for years. I was in the middle of going through getting rid of my debts by working some delivery jobs on the side. One day I actually delivered some food to Dave’s building for a corporate meeting. The bill for the food was a few hundred dollars. I went in to give them the food and get the receipt signed. When I left I looked down at the receipt and saw they left a $3.50 tip on a $300+ bill. I thought for sure this would be the business where they understand what delivery drivers are doing and how much they rely on tips, but this has left a bad taste in my mouth for years.
No single employee represents an entire company.
Wth are people putting on their CC I feel guilty when I have 50 dollars on my card
This is inspiring! Working my way towards debt freedom right now. Love this story
Almost there!😮
70K isnt that much compared to some I've heard. At least she's doing something about it. I heard a guy once talk about something else, Dave asked how much CC debt he had - he answered very casually like he didn't care - 175k.
who cares if it's not as much as some other people she still has 70 freaking thousand dollars on cc debt. That's so much money
Don't forget that they report that write down to the IRS and you have to pay taxes on it
Report what?
@@beastfromtheeast9318 if you owe $15000 on a credit card and you settle for $2000. The credit card reports the $13000 they lost to the IRS and you owe taxes on it.
@@rebelrrp ahh gotcha.
Not if you are technically insolvent.
YNAB is amazing!
YNAB definitely has its advantages over EveryDollar... and I use EveryDollar! LOL!
Sell some of the stuff you bought with credit cards and pay it on your credit cards
Good advice; however, for some they pay medical bills with credit cards.
It's usually eating out.
That ain't nothing, I had 161k in 2007 thanks to my ex-wife. Did I mention she's an ex now? It can be done, but it takes a lot of work and some time.
161??? In CC debt??? Bruh
@@writingonthewall3326 That is why you never get married.
@@wewhoareabouttodiesaluteyo9303 my wife is a champ... But i get your point fer sure
YNAB is king
I would cry! I once met this pharmaceutical executive guy and he had all this stuff!!! And we were in his garage and he just told me man I was tired of not having anything lol!!!
Number, if you buy a house get a home inspection done. Why would you stop paying you bills??
I want to wake up one morning and find out that my account is $1,578,889.00. I know its possible.
This is really possible depending on your investments curve. Just invest wisely.
plan your investments with good portfolio manager and I can assure you that in few months your account will be more than you dreamt.
This is more than possible with expert professional. Get yourself one!
I made my first million through Maria Leda Goebel . She is accredited and licensed. She lives here in the USA and you can reach her through the web.
My wife and I have been at 17k paid it off, 8k paid it off then most recently 14k and at 2k about to pay it off! I’m so tired of stupid credit cards and now officially on a budget and want to get away from ever having to use them. It’s just so darn easy to go down that rabbit hole.
She found a budgeting software that works for her? Let me tell her it sucks and to switch completely. Hope it sticks and that she doesn't lose the progress or drive she developed!
I need to get financial advise. I owe $2,240 in card debt.🤣🤣. It's scary hearing these stories.
Same. Late payments are just paying the interest 🙄...I'm so tired and pregnant. And working 55 hours a week and have a toddler 🙃 and have to find a CAR. Prayers appreciated 👏🏾.
Dont give up. Put your hopes and trust that Jehovah will open doors.@@coopernecole7962
Sounds like she is on the “right track.” Keep it up!
“Test pilot for a broom factory” 😂 I need to use that one
Snowball was my life saver.
"your going to mess with everyone of them"......really? Good luck with that.
He hit her with the bless your heart
Back in the 1800’s if you owed debt and you wouldn’t pay your head would be on stick. If it was the same way I think people would think before getting a loan.
Paid off all of our cards. I keep playing that song by Fleetwood Mac. "Been down one time, 🎶been down two times🎶, never going back again 😊
I love Dave! Playing with the debt collectors. What Fun!
I just need to pay off my house by 3031 and student loans. Thank you Dave and crew!
your payments must be tiny, where do I get one of these 1010 year loans?
This caller called Dave 12 months ago. It will be interesting to see how things have progressed since. Hopefully things are improving for her (the caller) and the debt is slowly being paid off 🙂
I can update you because I am that caller. I am completely debt free after lots of work with Uber Eats as the side gig every weekend and some nights after work and throwing everything towards the debt. I got a new job in a new town making over $30K more. Sold my home to move to pay off the remainder of my debt and have a hefty amount in a high yield savings account to go towards a down-payment on my next home and it continues to grow. I get super excited watching my retirement accounts grow each month and being debt free is amazing!!!!! I will never go back there again! Mark my words.
Good for her. I am routing for you Carrie, I am in similar position. I am in baby step #2. Making two car payments a month. And also have 3 jobs
Some people have 10 jobs to get their hours up per week. I hoping that those in debt are paying for their stupidity by working 70 - 100 hrs a week at least.
She can do this. Don't let collections scare you! The banks don't even give that much interest yet are so happy to charge you. Should be illegal.
Yes do it yourself!
after watching this twice, i keep missing any part where she said what the 70k was for. did she use this for. regardless, the interest per month had to have been at least $1400 a month.
Found Sir Dave, and im goin all in to payoff my debt this Christmas Bonus . thank you
YNAB is amazing
I have over 150 grand in lines of credit on a total 24 cards. Never been late or behind. I have lost 3 homes. Being Responsible does not always pay off. It hasn't for me.
Why on EARTH do you need 24 cards????
in the UK its so uncommon to earn that much, I find these people so crazy they always earn 50k+
u.k in usd is like 100k...gotta convert
@@jasmines.6325 what? Even if you convert its way way wayyy higher
I hate to see Dave hating on YNAB, it really is a fantastic budgeting app and it’s based on the same principles as everydollar