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The Ramsey Show Highlights

$900,000 In Debt and Don't Know Where To Start

The Ramsey Show Highlights

Ramsey Network

Business, Investing, Education, Self-improvement

4.5839 Ratings

🗓️ 28 April 2026

⏱️ 10 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today.

0:06.0

Me and my husband are in a big mess financially and we can't seem to get on the same page.

0:13.0

I'll kind of run down some numbers for you. It's pretty bad. We have student loan debt for my student loan debt, $52,000.

0:23.6

We have federal tax debt, $12,000.

0:26.6

We have a mortgage, $1.75.

0:29.6

And then we have personal loans that total about $331,652.

0:39.3

We have credit cards altogether that total 152,168.

0:47.8

And then we have business loans that are 199,382.

0:53.7

And business credit cards that are about 65,156.

0:55.0

156.

0:59.0

So we have a big mess.

1:03.0

So you have a business that is failing?

1:06.0

Yes, the business has been struggling in the past.

1:13.6

Yeah, you're not making money and you've been financing it with all these loans.

1:17.6

Correct. Having too many people in payroll and not having...

1:22.6

You're not making a profit for whatever reason and you've been financing it for how long?

1:28.3

How long it's been since you made a profit?

1:30.3

Well, I mean, technically I did make a profit these last two years, but obviously I'm paying loans.

1:40.3

So the interest is obviously the only part I can deduct duck but cash flow i i don't have any cash

1:47.9

um yeah you're but you've been using i mean you you didn't use these credit cards these business

1:54.5

loans these personal loans these other credit cards all to finance the purchase of the business

2:00.2

you've been operating it at a loss and feeding it.

...

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