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Live from the headquarters of Ramsey Solutions, broadcasting from the pods, moving and storage studios.

It's the Ramsey Show. We help people. Build well. Do work.

That they love. And create actual and amazing relationships.

George Campbell Ramsey Personality, co-host of the very, very popular smart money happy hour here on the Ramsey Network.

Some podcasts with Ian Rachel. He's my co-host today. We're taking your calls.

It's triple 8-825-225. That's triple 8-825-225.

Joyce is going to start off this hour with us in Chicago. Hi Joyce, welcome to the Ramsey Show.

Thank you. Hi Dave and George. Hey, what's up?

I'm so excited to be on your show and a little nervous.

Oh, that's okay. We've never lost a patient. How can we help?

Hey, I just want some clarification about the advice that you give debt and collections.

It seems to contradict what you say about other debt. And I'm just curious as to why that is different.

Okay, I think I know where you are, but let me make sure.

You mean suggesting people settle it versus like if you have a student loan, I suggest you pay it.

Absolutely. Okay, I'm making sure I knew which type of advice it was in conflict you were asking.

Okay, to start with, it might help to know that the full breadth of the advice would be if you have the money in the entire bill is legitimate and it's in collections, pay it is our advice.

Okay. I don't suggest people settle debts except those that are broke.

Now, if you have a hundred thousand dollars in student loan or in medical debts, let's say, and they're in your calling me to say,

gosh, I think I'm bankrupt. I've got ten thousand dollars. Well, you're not bankrupt.

You've need to settle each of these for ten cents on the dollar. That way, you gave them everything you had and you cleared the debt honorably.

And that settlement is obviously voluntary on their part. But the other thing that comes into play then is have they doubled the bill or tripled the bill with collections fees or a bunch of other things because sometimes you start out with a thousand dollar bill and eighteen months later, it's eight thousand dollars with these people.

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