I Have $1,400 To My Name and I'm Considering Bankruptcy

The Ramsey Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.5 • 38.5K Ratings

🗓️ 2 February 2026

⏱️ 128 minutes

🔗️ Recording | iTunes | RSS

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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.
0:13.0	Normal is broke and common sense is weird, so we're here to help you transform your life.
0:18.9	From the Ramsey Network and the Fairwinds Credit Union Studio, this is the Ramsey Show.
0:24.3	I'm John Deloney, joined by bestselling author, great human being, Jade Warshall,
0:29.8	and we're taking your calls on money, work, life, all of it.
0:33.2	AAA 825-5-225 to call in live. Let's go out to Charlotte, North Carolina, and talk to
0:41.2	AJ. What's up, AJ?
0:43.5	Hey, how's everybody doing? We're doing all right. How about you?
0:47.9	I definitely need help. I have over 170, well, 137K in debt, and I have over 170, well, 137K in debt.
0:57.1	And I have 66K with the IRS.
1:01.9	And I have an extra 70K with personal debt, including cards, credit cards, is through the loan.
1:10.4	And my problem is, well, me and my wife,
1:13.6	every year we make more money, we owe the government more. And with the 65K that we already
1:20.0	owe the government, the interest piles on every month. And I'm at a crossroad because I don't know
1:26.8	which one should we start with first.
1:29.0	Should it be the IRS or should it be the personal credit? Because every year we go up and bracket
1:37.4	with our income, we owe an extra $8,000 that's added on to the debt that we already
1:43.4	owe with the IRS.
1:45.0	So it's kind of like it's a...
1:46.4	Well, why aren't you paying your taxes?
1:49.1	Why does it have to keep going up, is what I'm saying?
1:53.0	Yeah, so she's an RN and I have two jobs.
	...

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