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The Ramsey Show Highlights

"How the Flip Did You Get Into $200,000 Credit Card Debt?"

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 22 April 2025

⏱️ 8 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. So I've gotten myself

0:08.0

into a situation where I have a couple hundred thousand in credit card debt and loans that I've let

0:15.9

go delinquent. And my question is, do I let it sit there and fall off my credit report?

0:22.6

My research showed maybe it falls off in seven years or do I attack it?

0:27.6

And the reason I ask that is we're kind of attacking my wife's debt and my truck payment.

0:33.6

And those debts are about 100,000 and we're using a snowball method starting that now to attack those debts.

0:41.9

And I just cannot afford to pay these other debts.

0:45.3

And part of my question may have been answered.

0:47.5

What the flip did you buy for $200,000 on credit cards?

0:51.5

A lot of stupid decisions.

0:53.1

It's a bad luck.

0:54.0

You know, I just living a good life.

0:57.1

How old are you?

0:58.4

52.

0:59.9

And my wife is 52.

1:01.2

It's our second marriage.

1:02.0

What's your household income?

1:04.2

She is a nurse.

1:05.6

She brings home, takes home 7,500 a month.

1:11.2

And right now, unfortunately, I'm in between jobs laid off.

1:15.8

And so I'm driving Uber and probably make $4,000 a month doing that.

1:20.9

What were you making at your old job?

...

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