The Ramsey Show - App - We Have $150K in Credit Card Debt (Hour 3)

Episode Date: July 16, 2024

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Jade Walsh, our Ramsey personality, is my co-host, number one best-selling author to date. You can call us at 888-825-5225. Christina starts off this hour in Pittsburgh. Hi, Christina. How are you? I. Hi, Christina. How are you? I'm good, Dave. How are you doing? Better than I deserve. What's up? Okay, so basically, recently, my dad has called me out for overpaying a, what they call a penny delegate for, or he calls them insurance scams, but I am paying a company called sherman to basically be the middleman

for covering a health insurance dental envision and i was slow down slow down i can't understand you you're paying a middleman for health insurance yes but they also say that they give you like a five hundred dollar or five thousand dollar um benefit for them to take care of it for you so i have an agent through penny our health insurance marketplace that i'm supposed to be paying them 150 a month but i'm still getting a bill from highmark and i'm just confused as to why i am too you know what I mean? I am too. Okay. So health insurance is pretty simple. When you buy health insurance through an insurance agent,

the health insurance company pays the agent the commission. You should not have an additional commission on top of that. Your dad is right. So how do you feel about insurance brokers are they necessary or an insurance broker represents several different companies and when they sell you insurance for one of those companies that company pays them you do not pay an insurance broker oh oh my gosh i love insurance brokers because they for instance we endorse jeff zander at zander insurance for life insurance they're a broker they're an independent agent they don't sell for just one company they sell about 40 or 50 different companies for life insurance or whatever the number is okay and when you send

them a note you say hey i want to buy life insurance here's my age my medical condition they shop among all the different companies for your situation and get you the best price for the amount of insurance in your situation and then you buy it through them and that company pays them a commission. You simply buy the life insurance, and that's the way health insurance works too. Okay. So I think your dad's right, kiddo. Yeah, I think he's right too, Danny. So how old are you?

I'm 24, sir. Okay you uh you do not have health insurance through your workplace uh no sir so you're just trying to buy it in the open market um yeah but since i i have a two-year-old so it got kind of complicated to think about like or not not complicated but you know what i mean i just kind of want to see like what the best care for her is because i really don't go to the doctor unless i'm like dying um so i thought that would be like a good thing because they called me and i was like oh that sounds like a good deal and i guess i should have called my dad first because you're fine yeah i think you can cancel it and you're going to be just fine. We've got a company that we endorse for health insurance that will shop among the health insurance companies, a real broker. Okay.

And they're not, it's called what again? Health Trust Financial. Health Trust Financial. They just renamed it. That's why I couldn't think who it was. It's a guy we've worked with for 15 years but uh health trust financial and the guys at health trust financial will uh shop among different companies and get you the best price in your situation you will not be charged a dime by them when you buy health insurance through them if you do the health insurance company pays them a commission okay okay and they can help they can help you get

they can help you get some cheap coverage in your situation shouldn't be that bad at 24 years old even with a baby okay yeah yeah can you um just repeat that the name of them one more time please sure i'm going to put you on hold and they're going to give you the phone numbers and everything but it's health trust financial is what it's called and i don't i don't have it memorized because they changed everything just about a month ago, and I'm dumb. I can also drop a link in the show notes. Okay. And producer Sandy, for the rest of you, he's going to drop a link in the show notes to help me out and cover me since I don't have it figured out.

I used to have all these things memorized. We've got a lot. There's a lot going on. What we used to have, folks, I'll go ahead and explain it to everybody else out there we used to have endorsed local providers we had health insurance agents everywhere all across america and basically the health insurance business has almost collapsed there's very few operators left after obamacare it put most of them out of business and so this guy has been doing has been what was one of our largest ELPs back in the day. And he formed Health Trust Financial. And he's got a group

of agents around that serve people. And he's been able to navigate and stay alive and make a living and help people after Obamacare, where most of them weren't able to. And that's why this all changed. Because we used to just say, go to RamseySolutions.com, click on health insurance ELP, and you'll find one in your area that is an insurance broker. And they'll shop it for you and get you the best deal. That's what we did for 15 years around here. And then it's taken about a decade for the Obamacare to completely basically destroy the health insurance world. Took out 90% of it or so. So it's a mess out there. But anyway guy they do a great job they're good people and in

this environment they're gonna get you the best possible deal so I'm proud proud to endorse them in this situation so very cool stuff Natasha's in Tampa hi Natasha welcome to the Ramsey Show. Hi, thank you. I'm excited to be here. How can we help? So basically, my question is, when should my daughter get a bank account? I open a bank account for a child as soon as they're born, and I throw gift money and other stuff in there just to let it start building up, because somebody's got to pay for their first car, and it's not going to be me yes and then as far as the bank account goes that they actually operate their lives out of 14 15 or 16 depending

on their personal maturity um rachel cruz and her brothers and sisters all had one at 14 and 15 had their own debit card uh the only thing was they did not have free reign uh old dad was checking it all the time to see what you were spending, where you were spending it, how you were spending, and that you were managing the account correctly. Because this is not a right. This is a teaching aid. I agree with that. I had mine at 16 when I got my first job. I had one at 12 and kept a full checkbook because I was running a little lawn care business.

And my parents taught me how to do that. And so what a blessing. And then we actually, and back when the dinosaurs roamed the earth, there was a class in high school called general business. Okay. And they would teach you how to actually reconcile and do a hand kept checkbook back when people did that. This is long before the digital age, boys and girls. But yeah, but anyway yes yes yes yes yes and yes but it's not an entitlement and it's not a right it's a teaching tool like when a teenager

has a job it's not their money well they earned it nah they just i allowed you to work and earn some money as a teaching situation. Yeah, they don't get to go do whatever they want. You don't get to go do whatever you want. You get to do whatever you want when you pay all your bills. Okay. And don't live here anymore. That's the only time you get to do whatever you want.

This is The Ramsey Show. Are you married? The number one cause of divorce in North America today is money fights and money problems. Number one disagreement. If you get money disagreements out of your marriage, for most of you, it completely changes everything. Because when you agree on your spending, you're agreeing on your dreams. You're agreeing on your values. You're agreeing on what comes first, what comes second, which is your values, represents your values.

You're agreeing on your fears. I'm scared of this. I got to spend some money to cover this. When you agree on all of those things, you're agreeing on your life. You're adding a level of unity, a level of oneness to your communication and to your marriage that nothing else will do. And it's a stupid budget. It's a spending plan where you agree on it together. The easiest way to do that is the world's best budgeting app. It's called EveryDollar. It makes it simple to plan your spending and simple to work with your

spouse and simple for both of us to hold each other accountable that we've actually stuck to the freaking thing. Did we really do it or not? Download EveryDollar for free in the App Store or Google Play today. Doing a budget is by far the number one indicator of someone who's going to become wealthy by far it's not your income and it's a big time communication tool in marriage you know here's an interesting stat this is an it's an old one but i would imagine it's still fairly accurate because you don't hear this one very often. I read this a couple years back in Red Book Magazine. That's how old this stat is. Okay, you ready?

Ninety-seven percent, that's all of them, of ladies wish there was more communication in their marriage. Bingo. If you want to have communication from a guy, ladies ladies let me tell you one thing that guys speak most guys speak budget we speak numbers we speak decisions in the household around the numbers and this is a instead of i just wish we talked more how about let's sit down to a budget by god there'll be some talking. Interesting. There'll be some communication.

You might not like all of it, but there'll be some communication. I'm just saying. It's a coming. And that's a big deal. Every dollar. You can download the app for free in the App Store or Google Play today. Judah's in Atlanta. Hi, Judah.

Welcome to the Ramsey Show. Hey, thanks for having me. Sure. What's up my we've got over 150 000 in debt and we are on the every dollar app now we're budgeting for the first time in our life but my question to you that's credit card debt we we are have a plan to pay it down but i wanted to know if that's the best plan for your recommendation just to be on every dollar budget and baby steps. Well, yeah, but my question is, how did this happen? Because I think you do have to figure out what happened so that you don't do those mistakes again. Years ago, we changed careers.

We were both making upwards of $400,000 a year. So we had credit lines up the wazoo. We had credit cards, and we were spending, but we were paying it all off. And when we switched careers, we went down to under $100,000 a year and still spending like we had, you know, that kind of lifestyle. Yeah. So, okay. Have you adjusted your lifestyle to under your income?

Yeah, we're back up. We'll make upwards of that $400,000 or $500,000 now that we switch back to the same type of field. What do you do? We're both in construction. Okay. So can you pay this off in a year? Sales? No.

Why not? It's sales, so we have to build our pipelines back up. What are you going to make in 2024? $120,000. Okay. we have to build our pipelines back up you know i mean what are you going to make in 2024 120 okay what are you going to make in 2025 220 250 okay all right that's the thing okay because if you're making 400 you pay it off in a year but you're not here okay so all right so the the deal is this you can't out earn your stupidity you also have to have the processes and the systems in place which is why you're wise to ask the question that you've asked way to go you're really good at making money you suck at handling it agreed agreed okay so now we're going

to be on a budget and the two of us together are going to be in agreement what we were just talking about before we picked up with you and. And our agreement is we're not doing anything until this debt's cleaned up. We're going to cut up every single credit card. If you haven't had plastic surgery, now's the time. Yeah, a lot of them are metal. That's all right. Destroy them. Yeah, get a Sawzall.

Heavy metal. You're in construction. You can figure it out. They die today okay you don't keep a single credit card agreed agreed they these are snakes they bite they bitten you don't play with snakes okay no we're both in our 30s my reason for asking because the idea of of you know accumulating all that together bankruptcy has even crossed our mind you're not bankrupt you're not bankrupt you're just out of control here's the thing what we

look at is a shovel to hole ratio you have a hundred and sixty thousand dollar hole with 120 220 320 thousand dollar shovel agreed agreed? Agreed. This is doable. Yeah. This is doable. This ditch can be dug out. Okay? This is not a problem. It's going to mean that you live on beans and rice, rice and beans.

You don't go out to eat, and you work all the time, and you don't go on vacation, and you're going to clean this up. And based on the numbers you're giving me, it's going to take you about two years, two and a half years. Okay. The faster your income goes up, the faster you'll be out of debt how much can you control the speed of your income coming up a lot we're both we'll both make over 200,000 in the next two years good yeah well you said 220 you said 120 to 220 that's me oh okay that's just you oh wait a minute

slow down so you're she got what do you What is the household income going to be in 24? 24, probably 250. All right. All right. So let's put... Let's live on a $75,000 and pay most of this off. Yeah. Yes?

Yes. Okay. Yeah. But that's something you've not done in your entire lives so far right correct yeah that's what that's the answer to this here here's the here's the numbers we know from coaching people in these messes the more radical you get the deeper you sacrifice the faster you get out and here's the key the faster you get out the higher the probability is you actually do it you don't quit right and so it's a rip the band-aid off thing not peel it off slowly and let every hair come out of the follicle embrace the suck that's what they say it's gonna suck and embrace. And I'll tell you, the hard thing for you guys, which you're going to do it, but we get basically two types of calls.

The folks who it's like, listen, your income's low. You got to get your income up. You got to bring everything up, right? And then there's people that fall in your camp where it's like, you've had this high lifestyle. You're making $400,000 a piece a year, $400,000 a year, and you're having to bring it down. In many ways, I feel like that's tougher because you're used to a lifestyle. And for you guys, it's, oh my gosh, I have to live on 75 when I was used to living on 400.

So that's the part behaviorally that's going to be difficult for you. But you can do it. You just have to know that that's what you're up against and that's what you're facing. The deeper you cut, the faster you're out and the more likely you make it. Got it. And make more money and make more money. So all you're going to do is work. But you'll be done forever if you never go back to the old patterns.

Right. If you permanently change the patterns. And this is basically a neuropsychology thing. And so you're resetting the neuropathways in your brain when you do all this. That's what a new habit is. And you're setting a whole new set of habits and again the extreme the the level of extreme deepens the rut in the brain yes that's right and so it's like because i went through bankruptcy lost everything mine is real extreme i have a real this this like freaking grand canyon

right to where there's no chance i'm ever going to deviate from it. And so you can add to your chances of ever coming back here again by trying, you know, you're more likely to come back into the mess again if you gradually get out, because it's not a deep pathway. It's not a neuropathway that's deep. It's not a deep rut. And so you want to get, this is a rut you do want to get stuck in. Okay. Neuroplasticity, the things we talk about on the Ramsey show. Who knew? But yeah, there you go. That comes from

having a John Deloney in the building. That's right. Anyway, that's the thing. So you can do this, man, but it's all about intensity. List the debts smallest to largest, pay minimum payments on everything but the little one, attack the little one with every available dollar until it's gone, then attack the next one with every available dollar until it's gone. Then attack the next one with every available dollar until it's gone. Then attack the next one with every available dollar until it's gone. Smallest to largest, regardless of interest rate. Make sure they're all cut up before the sun sets today or sawed up, whatever has to happen to those puppies.

Jade Boshaw, Ramsey Personality, is my co-hosthost today ted is with us in raleigh north carolina hi ted how are you hey dave i'm doing okay uh thanks for taking my call sure what's up so question for you um my wife and i last year uh we bought too much house and um to change our situation we've chosen to sell. We're running into some roadblocks. And so I wanted some guidance. And I'll jump into the numbers with you. Okay.

What are the roadblocks? Yeah, so bought our house last year, $366,500. Put 5% down, which is about 20K. 7% interest rate um currently we still owe 342 000 um and how do you owe 342 000 when you only borrowed 246 sorry 366 oh 366 okay and you so you put 20, so you had a $346,000, and now you owe $342,000. Okay. Now I'm catching. Correct.

Good. Okay. Thank you. Sorry. Yep. I make $71,000 a year. We have no other debt, but this home is more than 50% of our take-home pay, so it was an unwise choice. In January of this year, we decided we needed to make a change.

The increase of property taxes and home insurance kind of tipped us over the edge, as well as the situation at work was not what I was expecting it to be. So in April, we saw a position open up closer to family. So we decided to take that, but it's a lateral position, so we are responsible for the move. The workplace is not providing us any kind of support in moving. Where are you moving? To Nevada. Oh, wow. How in the world are you doing that you don't have that option you're stuck in a house right now you're just going to walk away

from the house well i wanted to review our uh options with you. We listed the house on May 3rd. We only had two offers. What were the offers? Yeah, it was $350,000 plus 14K in closing costs. So factoring in fees, we would owe about $30,000 to sell the home. And just this past weekend, we took the house off the market because my wife hits 38 weeks pregnant this week. Oh, boy. Oh, boy.

Pull it back. You need to pull it back. Did you already quit your job? Well, I have made the change. Yes, I did make the change to the new team. So you're expected in Nevada when? Well, my new manager wanted us there in July, but that's obviously not happening.

Did you not look at what the markets were doing before you took this? I mean, the market was better in April. Yeah, not that much better. Not that much better. april yeah not that much better not that much better it hadn't changed that much oh you're in it now though yeah eight months pregnant you were due in july so now they want you there asap you're gonna owe what money do you have you don't have any money anywhere? No, we don't have any money. No, we have only a small, about one-month emergency fund. Let me ask you this, just so I can get on your train of thought. What did you think you might do?

Like, if you knew, okay, we're going to be a little underwater in this house, what did you think you might do in order to cover that and make the move? Well, we've listed at $365,000, so we were hoping we could sell it at that and come out clean without owning anything on the house. But you hadn't thought, what if we can't get that? Correct. Well, and you can't pay the payment barely now, but you're going to move and take on housing costs in another city

at the same pay rate. So how did you think you were going to move and take on housing costs in another city at the same pay rate. So how did you think you were going to pay the payment until the house sold? Well, we were hoping to sell the house fast. Oh, man. There's a lot of hope in here. All right. Dude, you really got this out of order. I wish you had just kept your job until you got the house sold yeah yeah because what were you thinking had a baby before you got

the house i mean before you have to move were you thinking you were going to go to nevada stay with family until this house sold or were you thinking you'll go to nevada the house will magically sell and we'll be able to afford rent there well um well just sell the house and then move and rent um in in nevada okay um and uh you know start from zero what does your wife do well i mean i know she's pregnant right this second but what is her career uh so she takes care of our kids at home we have two other boys she's a full-time mom and you make seventy one thousand dollars all right well i'm caught up with where you are um i'm aghast at how you got here but let's see

if we can help you from this point forward okay um so you're moving to nevada uh with a brand new baby and starting your life and your house is going to sit here until it sells or until you borrow thirty thousand dollars successfully to be able to sell the house at the current deal right right and your current house payment is what uh 2809 okay so three thousand dollars a month is burn rate so 10 months you could have the thing on the market and break even with the thirty thousand dollar loss you're facing right okay so that's probably not an offer you need to take because you you know even if you could borrow the thirty thousand i suspect you can get more for this house sometime in the next 10 months than you've gotten for it now. Okay.

Now, you're probably not going to be able to pay the payment because you're going to set up house in Nevada. You got it right. And you're not going to have the money to pay this payment. Am I right? Correct. So the house is going to get progressively behind because you made this move without having the house sold. Yeah, what are rents in Nevada? Have you looked it up? What's it going to cost you? Yeah, about $1,800 to $2,100 a month.

Okay, $2,100. let's say you got thirty thousand dollars more for the house five months from now you're going to net fifteen thousand more than you are today because you're going to lose three thousand dollars a month for five months that's 15 grand if you get 30 more than you got now and you broke even well broke even is no longer break even because you're now five months in the hole at that point. And that's fairly realistic that you could probably pull that off. In the meantime, while you're in Nevada, I want you working 24-7. Every job you can get your hands on, you need to stack up as much cash as you can stack up to keep from getting foreclosed on here if you can.

How are you paying for the move cross-country? Well, we've downsized all the non-essentials, and I was planning to drive a U-Haul trailer. Okay, so you're paying cash. We're not going into debt? No. Okay. All right, so I would not take the thirty thousand dollar loss today

number one you can't finance it probably you probably don't have the option to take it and then let's put the house on the market and try to see if we can get more for it sometime in the next few months before you lose it you're going to lose it about a year from now and they're going to come after you for the difference and sue you for the difference if during that time you get another lower offer that you can't cover then you would propose a short sale to the mortgage company a short sale is where you're behind on payments and the mortgage company thinks they're about to have to foreclose on it and if they have to foreclose on it they're only going to get x out of the house and you can get them X today. They'll take the X, they'll take the reduction in the mortgage, in the balance on the mortgage, but they're not

going to cut it while you're current. They don't do short sales with people that are current. So if you're five months behind and you get an offer like this and you don't have the money to cover the difference, you negotiate a short sale. And then, Ted, here's the phrase you remember. Without recourse. A short sale without recourse, which means they don't come after you for the hole you leave in their mortgage that you don't pay because of this whole series of unwise decisions you all have made, starting with an overpriced purchase and then making a move before you had a house sold. Both really unwise.

This is The Ramsey Show. Our scripture of the day, 2 Corinthians 4.16, Therefore we do not lose heart, though outwardly we are wasting away, yet inwardly we are being renewed day by day. Fred Smith, that would be FedEx, said, Losing is a temporary condition. Quitting is an attitude okay Jade I um I don't know why because it seems so obvious bloody obvious to me but I'm still feeling the need

to go back and say okay what what let's pretend that we could revisit our last caller before he made some of these decisions yes all right you buy a house that you can't afford. Now, lots of people have done that. Yes. And your house payment's 50% of your take-home pay. This, by the way, is mathematical suicide. The stupid mortgage company will approve you for it, but there's no chance this is sustainable.

Okay. He did that in October for $366,000. Put down $20,000, which, by the way, now we've lost that money. Yeah. $20,000 is gone. It's gone. Okay. Because we bought a house we couldn't afford.

And we put ourselves in a crack. All right. Now, make $71,000. Mom does not work outside the home. Has two kids and one on the way any minute. We have a toxic work environment. Okay. Yes.

That's what he said. That didn't exactly what he, he didn't call it that. He called it something else. But the current job didn't, wasn't what it was supposed to be. It wasn't what it was. Yeah. Something like that. Okay.

So what should you do in that situation? Well, your wife is about to have a baby. You are about to have to sell a house and change jobs, okay? You've got to put this stuff in the right order or you make a bad situation really bad yeah okay so you do not have the luxury of leaving the toxic work environment unless they fire you you want to create stability you have to stay there yeah until the baby comes and the house is sold absolutely period period and if you can't pay the house payment because it's so tight you have to work an extra job yes suck it up buttercup and take care of your family your wife and your baby and your obligations not my it's not working out at work yeah i'm sorry

that's unacceptable i i mean unless they are doing something that's going to get you put in jail not just hurting your little feelings you need to go to work until the house is sold and the baby comes now if you get the house sold and the baby comes and you want to take a break-even job and lose your twenty thousand dollar down payment break even on the house which was his hope then move with cash with a u-haul to nevada and break even not sure that's the smartest move but at least then it's somewhat acceptable but you by putting this in the wrong order he may have bankrupt himself and may have put himself in foreclosure the thing is the law that that twenty thousand dollar loss plus is going to cost him ten thousand dollars to move you can't move you even if you do a u-haul what it costs to

hire the people to load up the truck you driving down there the boxes all of that let's pretend let's pretend your friends from church feel sorry for you and help you load the truck listen beyond 30 good luck to you you just you just you gotta buy that you gotta pay for the u-haul and the gas all right that's all you could still cost you some money out of pocket they probably can pull that off if they had everything else lined up yeah they i don't you've got to run you don't get to run from discomfort into the other frying pan well and they didn't you have to run scenarios you have to say well here's an option well what okay worst case scenario if that happens what do we do okay worst case scenario if that happens what do we do? Okay. Worst case scenario, if that happens, what do we do? And they didn't run any options.

It was just like, well, I quit. And our house will sell and it'll sell for the magic number. Like in time for me to have a baby and move my baby. No, let me tell you. Husbands rule. Number one, don't move your pregnant wife. Period. And you're moving to Nevada where it's hot. No, do't move your pregnant wife. Period. And you're moving to Nevada where it's hot?

No, do not move your pregnant wife. I feel bad. It's like federal law. Do not move your pregnant wife. Let her have the baby, then talk about moving. I mean, really, this is what you do. It's pretty simple, y'all. But there's a thing that goes with this.

It was 115 degrees in nevada last week that was the the way it felt outside if you're talking about moving a woman that's eight months pregnant to 115 degree temperature even i can she's gonna make him pay for that yeah for the rest of his life and but here here now what we're facing is the house is going to get behind yeah and we're either going to write a check to cover the difference we're going to go into a short sale which is right there next to a foreclosure as far as destruction of your credit um or you do what's called a deed in lieu where you deed the house back to the bank, and they take the house as settlement in full without recourse, and that's instead of foreclosure, deed instead of foreclosure, similar to a short sale. Both of these are due to your credit about what a foreclosure does to your credit, but they don't

chase you for the deficit. If you don't pull off one of those two things, and those are up to the bank, up to the mortgage companies, whether you can pull that off very difficult to negotiate especially in this current real estate environment right they don't like losing money on mortgages in an escalating price environment they just don't do it very often and so if you can't negotiate a short sale or a deed in lieu a deed instead of a foreclosure then you're going to get foreclosed on and now this 242 000 loan will have been run up with foreclosure fees and 10 months of back payments to about 310 000 they're going to sell this house for 200 000 and they're going to sue him for $110,000 deficit.

So how does he walk that line? That's how dumb this was. How does he walk the line of, okay, so the first offer they got would have put them at that $30,000 deficit. If he had said, you know what, I'm going to wait this out for five months, I'll pay the payment, I'll see if I can. And then if I'm getting offers, maybe I can then cut that in half and I'm loaning out 50 I'm getting a loan for the other 15 something like that at what point because he's got to decide

at some point I'm either going to do that and if that keeps going on and then I get to the point where I can't make the payments does that make sense I don't think you can make the payments day one because he's got the same money coming in and he's got to pay rent in Vegas right and so there's this area of if he doesn't make the payments but they don't do the short sale but then that makes him ineligible to get the loan no yeah he's not going to get the loan once he's behind on the mortgage it's a short sale so he's got to make once you're behind it's a short sale or a deed in lieu or a foreclosure yeah so he's got to make that decision immediately otherwise he's I'm either gonna if he can if he could borrow thirty thousand dollars which I don't think he can i don't think this guy's bankable for 30 grand but

if he could borrow thirty thousand dollars today he could put the thing to bed for 30k but i still don't think that's what i wouldn't do that i still would play it i'd play it on out and see if i can limit the hit um but you are at the bank's disposal like you're at their yeah yeah at their will short sales in 2008 2009 2010 we did a lot of short sales i remember and we did a lot of deeds instead of deeds in lieu of foreclosure and the key is without recourse meaning they don't come after you for the difference the deficit balance which they will in the event of a foreclosure so the only advantage to doing a short sale or a deed in lieu is to avoid the deficit chase on the foreclosure. It's not really to save your credit.

It saves it a little, but not that much. You're still trashed. You're still in a hole. So, folks, the point of the rant here and our, I don't know what the right word is, our distress for that family is when you're in a situation that's tough like that, you've got to be tough. You've got to throw your shoulders back and go to work even if it's not pleasant to take care of the pregnant wife

and to take care of the mortgage that you can't afford until you get the house sold. I don't care if it's pleasant. I don't care if it's pleasant. I don't care if it's toxic. I don't care if your boss is a jerk. I just don't care. You signed up for a crappy trip, and you get to ride the roller coaster of a crappy trip. It's not forever.

It's for a few months so you don't bankrupt your family. Because this one episode, this four months long right here may take them a decade to recover from i know it just hurts me it just hurts my soul ouch ouch ouch ouch that puts us out of the ramsey show in the books we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace, Christ Jesus.