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The Ramsey Show Highlights

He Gambled Away a $100,000 HELOC!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 17 July 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:06.6

I'm kind of like my mind isn't like in chaos right now. I'm on the verge of wanting to

0:15.5

divorce my husband, basically to try to keep it short. But for the whole last year and this year,

0:23.5

he has been kept me in the dark in our finances.

0:26.5

Like I wasn't allowed to have access to his account or any of the accounts.

0:32.9

And he would kind of occasionally give him money weekly.

0:36.0

But anyways, I was like, hey, it's time to get a new house

0:40.6

because we have a three-year-old that needs his own bedroom.

0:43.8

So we pulled out money from the HELOC,

0:46.8

and he was, you know, very up to pulling that money out.

0:52.4

Why would you pull money out of a HELOC to get a new house?

0:54.9

Why don't you sell your house?

0:57.2

Well, we were going to keep this house to rent it out and charge double because the rental

1:03.0

market in my area is about $2,300, and a mortgage is only $1,000.

1:08.3

Well, that's before you took out a HELOC and before you had expenses.

1:11.2

But let's go ahead, okay.

1:13.5

Yeah, and so we were going to take the HELOC, put money down on another home, and, you know, live there.

1:23.7

But between December to May, I didn't know that he had actually gambled all of the He luck.

1:31.8

And I found out, too, that we have like $20,000 worth of credit card that were all cash advances.

1:43.5

So he obviously has a gambling problem.

1:47.8

Yes.

1:48.9

What kind of gambling is he doing?

...

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