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The Ramsey Show Highlights

$650,000 in Debt, Should I File Bankruptcy?

The Ramsey Show Highlights

Ramsey Network

Education, Investing, Business, Self-improvement

4.5838 Ratings

🗓️ 14 August 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:06.0

So I got myself in a bind, probably a total about $650 in debt.

0:13.0

What is it, man?

0:16.0

It's a little bit, that includes the mortgage. I took a heat lock out got a couple of um credit cards

0:25.5

hospital bills um the thing is i was i i had a very in the beginning i had a very savvy

0:34.6

like thought process you know trying to take some money out and invest.

0:37.7

I mean, real estate, I do wholesaling, and that was like the brunt of my income.

0:43.8

I got into a little health situation at the end of last year.

0:47.8

I had to do open heart surgery.

0:49.5

And then starting in January and February, it took some time for me to get the ball back rolling.

0:56.7

But business hasn't been as it was.

1:00.3

And just like right now, I'm literally right now, as I'm talking to you guys,

1:04.2

I'm pulled over on the side of the road because I just got done picking up an Uber each order

1:09.1

just to supplement my household income.

1:13.0

I'm married. I have five kids. My wife will stay at home because we have a one-year-old.

1:19.0

But as of right now, you know, we're trying to, you know, just trying to bring more income into the house.

1:26.9

Yeah.

1:29.3

Franklin, speak directly in your phone for us.

1:30.9

We're having a little bit of a hard time hearing you.

1:33.0

Sorry about that.

1:33.6

No, it's all good.

1:39.6

So you're doing side hustles right now to supplement the wholesaling stuff, which is in panning out.

...

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