Should I File Bankruptcy Or Dig Myself Out Of Debt?

Should I File Bankruptcy Or Dig Myself Out Of Debt?

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• The Ramsey Show (Highlights):

[MrFlargas]

"They just filed a law suit against me"
Dave Ramsey - Perfect!
Lol

[seandorrian]

Never good when Dave gets pad pencil going, lol

I appreciate that Dave remained on topic and didnt berate this caller on already learned lessons regarding those business debts.

[yamamancha]

Insulting people/companies for asking you to fulfill your obligations seems wrong to me. The companies extended trust and the cardholder abused that trust through poor decisions or malicious use (used cards knowing he couldn't pay it back). I understand what he means with collectors, I went through it once, but ultimately it's wrong to put them as being the bad guys. It deflects responsibility.

[dyxuuvk]

Wait...he owned a car dealership and has a 25k car loan? Geez no wonder it failed.

[impoortan]

I've been watching Dave now for sometimes and I wish I found him before where my situation right now but he's super right everyone makes stupid mistakes so that is why I'm working right now to get out of this mess and will never go back again! Thanks Dave Ramsey and ur Show! GOD BLESS!

[aquaholicdrinks]

This dude said he stop paying everything but the car and boat lol

[ronwhiteleo]

Wow, Dave Ramsey talking to his younger self...

[lauraporter]

Thank you for describing the emotional/mental toll this process takes! I had to give up "negotiating" when I was at my lowest as a teacher (teens), endless court drama. No bankruptcy, just destroyed financially for years & years...improving now!

[RZASSOCIATES]

after talking to bankruptcy lawyers who wanted $14000 to do a bankruptcy . . . another wanted $8000. so I decided to try to settle with the creditors and I did. . . i figured why give these lawyer snakes money when i coulld use it to settle out these debts. I did live on beans and rice for a long time but i learned a lot but don't ever want to go thru this ever ever again. it was a business that was in trouble . . .

[Corneliaa]

This call was kind of awesome. Hope he gets out of this situation fast 🤞

[yenaliacruz]

I have 12K in credit card debt still current, one car paid off valued at 5K, and no other assets... should I file for bankruptcy 7 to eliminate all the debt? And would I be able to keep my car? I can't work, I have very little income coming in from online sales, and I'm going through divorce and all these cards are in my name.

[pjob]

What I don’t understand is that the gentleman borrowed the money. He should pay it back. He knew what he was signing up for. It’s not the credit card companies fault.

[barrettt]

You know it's called discover? because you discover a new fee everyday

[gangatalishis]

what would be the advantage of settling for a quarter on the dollar instead of declaring bankruptcy? His credit is going to be obliterated either way so would it really make that much of a difference? asking genuinely.

[AaronJohnsonART]

if it's ever THAT bad, always file bankruptcy. especially if you don't care about credit scores anyway, why bother trying to repair it? file, pay down the easiest debts first, the worst over time never get back in debt again. OR, don't pay the debt and wait for 7 years, after that your debt will automatically be invalid so long as you don't try to start paying them AGAIN. your score will be terrible, but again, if you don't care it shouldn't matter.


never get back in debt either way.

[benjaminobermoser]

Good luck to this guy, keep sane man, we're all praying for you!

[edgehodl]

If the guy borrowed money, wouldnt be honest to pay it back? Instead of insulating people who call to get their money back ? If u reverse roles, and some guy who owes u money would tell u that if u didnt understand plain English when he told u he is not paying u back, will that be right? Just doesnt sound

[bunnie]

Came here after Dave insulted people for wanting to get their student loans forgiven and how tax payers are going to pick up the bill -> people who want student loans forgiven are a burden on society and lack integrity. Then hears Dave talk about paying credit lenders a quarter of what is owed and how debt collectors are morons for being mean while trying to get their money back. I like Ramsey's stuff for the most part, but I find this pretty hypocritical.

[Ryany]

You can totally keep your car in a bankruptcy. It depends on the value of the car. My wife and I had $181, 000 in medical dept. Insurance completely declined all bills.

We kept both cars, got the medical debt gone, brought a house 4 years later at 3.25%. Current have a 700+ credit score and the bankruptcy will disappear in a few years.

Why was that a bad idea? Our other option was to hire a lawyer fight the insurance company, hope we win most of it and still owe like 50 grand?