I'm $500,000 In Debt and Scared!

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[cooleobrad]

This guy is really not in bad shape, his only "bad debt" is the truck and even that isn't awful with his income. But it is concerning that he makes $160k/yr and has nothing in retirement.

[VentanaVic]

Dave is just amazing how he can calmly walk his caller through the numbers. It was great to see him help GT understand the risk and the "ok" state he is likely in. Love the Bible quotes! Thank you Ramsey Solutions!

[dougholdem]

That house sale needs to go through! Then he can breathe.

[dannwhitehead]

Second! I like to listen to Dave's callers to feel better about my situation.

[flea]

This is a silly call. There is no issue.

[cazpk]

I am never going down that road of debt again. Will never forget that feeling - could barely breathe and was in a heightened state of anxiety every day - absolutely horrifying. Now i bought a house i can fully pay off - and one in which i can actually rest in and have financial peace, health and quiet for the rest of my days.

[critterdude]

There’s no problem here, in fact, assuming what he is saying is true, this was a savvy deal on his part. All he needs to do is make sure the first home deal closes (it’s under contract). If he closes he has made a great financial move.

[lowtolerancelevel]

Good ole reassurance...
Bob's "three little birds" could have told him that.😆

[kamarwashington]

This was rly an emotional call. His situation was a simple math problem

[ryanj]

Sell the properties except for your primary mortgage. If you're this worried you shouldn't be having multiple properties. I wouldn't purchase a 2nd property unless I could pay cash for it.

[dtom]

It’s all about living within your means and planning for your future.

[michaelcarter]

The show is better with Dave on there since he offers wisdom and explains the why behind his advice.

[jjfwwhlol]

Reminder. HOW MUCH YOU MAKE DOESN’T MATTER. IT’S HOW YOU USE IT

[johncameron]

Dave’s good.
At least the guy is worried

[jaypos]

I’m convinced some people in the comments didn’t listen to the call and just commenting.

[MaydaysCustomWoodworks]

My friend got into this situation and couldn't sell his old house for the amount he needed. He lost everything and had to restart.

On another note, I had business projections of 1mil of sales this year. My business is on track to only do half of that by being unable to hire competent workers in a timely manner... If my overhead wasn't so low, by going through Financial Peace, I would have been in trouble... I could only imagine how hard life would be right now if I went into debt to try to make those projections for the year work out. Instead, we shifted to a different direction, and next year should be much better with a whole lot less stress.

[jermainebennett]

This man just wanted to talk. After the house sale of the old house, he's pretty much set

[charlesincharge]

0:25 mark > "I'm over 500K in debt...", girl smiles

[IrisP]

He could have rented out the house and continued gaining equity instead of selling it while getting into a panic mode with a $160K salary in VA. Then if he still continues panicking, stop renting it out and sell it.
We bought a second house and rented out our first and we are in California, which is more expensive than VA.

[mathisnotforthefaintofheart]

This is a kind of "worry" that can be resolved in my view when sensible math is put on the table...