How Do I Pay Off Old Debt?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 13 November 2020

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Chris Hogan, Christy Wright, Anthony ONeal, and Dr. John Delony. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Friday, and this is the Ramsey Call of the Day, part of the Ramsey Network.
0:06.8	Joining me today is Ramsey Personality, Chris Hogan.
0:11.0	Jerry's in Portland, Oregon.
0:12.7	Hi, Jerry. How are you?
0:14.8	Doing great, Dave. How are you today?
0:16.3	Better than I deserve. What's up?
0:19.1	Hey, so I'm coming today to figure out where I need to go in the
0:22.9	baby steps. I've already finished baby step one, and I've saved a thousand dollars in my savings
0:26.8	account. But I have $60,000 in debt. One is my car, one is a motorcycle that's now posted
0:33.4	on Craigslist for sale. And then the rest is collections,
0:41.5	which is about 30 to 40,000.
0:44.0	I'm sorry, it's 20,000.
0:48.8	Some of the accounts and collections are between five and six years old.
0:55.7	And when where do those fall in line with the baby steps and what gets paid off first?
0:56.5	Gotcha.
0:57.0	Hmm.
1:00.5	Jerry, as you talk about this, how much of the 60 is the car?
1:03.5	It's about 19,000.
1:04.0	Okay.
1:05.7	And the motorcycle is how much?
1:07.8	18,000.
1:08.2	Okay.
	...

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