I'm $20,000 Behind On 8 Credit Cards!

Keyong is about $20,000 behind on 8 different credit cards. She calls Dave for advice on the quickest way to get out of her situation.

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• The Ramsey Show (Highlights):

[iBeautyiStyle]

I have 8 and I learned the hard way. They are all 0 balance now, but whew! THE DISCIPLINE IS NOW REAL! Never putting myself in that mess ever again.

[bevoburn]

Been there. i was 20K in debt 8 months ago and just worked 2 jobs and about 80 hours a week to pay it off to zero. My coming to Jesus moment was when i realized i was paying about 500 bucks in intrest a month on just maintaining minimum payments.

[ErrorPagenotFound-igcy]

It took her $20k to realize she messed up.. it took me $500 to realize I need to keep it at zero balance. All of us have different breaking points. Hope she’s able to pull everything together and WIN.

[marcarrera]

What I did was call the cc and explain i had no way of catching up at the moment the signed me up for a repayment plan which in turn lowered my monthly payment from 250 to 35$ then dropped my interest to 0% and closed my account so no further late charges could be charged on the account so now the payment is going to the full balance completely n9 more fees! Will be completely paid off from cc in sept!!!!
Now to bs3 and then pay off our house asap!!!

[AverageJoeInvestor]

*GREAT VIDEO DAVE* | Wow, that’s so crazy! Let’s get focused on this debt! They make enough money to get serious and focused on this debt! GREAT VIDEO DAVE! 😎👍🏻

[NatePhilips]

I hope Dave can get the message through to the world that credit cards are NEVER a good move! Don't patch up a problem, transform a system! You're on an awesome mission, Dave!

[rikkifashionhouse]

I had a late payment on my credit. I called them crying and accepted full responsibility for it and asked if it was anything they could do and asked them to remove it. The rep I had removed it and only asked for my monthly payment and I gladly paid it

[megpeg]

Why do people in the comment section always ask how do people keep getting into trouble with money when if they weren't in that situation themselves at one point in life they wouldn't be watching. Get off your high horse people. I bet you aren't here for that boring blue blackground.

[roolyfe]

I got into $15K credit card debt and did capital one rehabilitation, saved my credit

[markg]

I dont understand the thought process that you can charge more than you have in the bank and continue to keep spending. You aren't the federal govt.

[Je.rone_]

*reading the title and thinking about how high credit card interest is, gives me a slight feeling of anxiety just thinking about it* 😦

[SoHoDon_]

Hope those reward points for 8 credit cards was worth it

[Peteslair]

Hi Dave Ramsey team! I was wondering if you could compile a list of callbacks from listeners, you know from a panicked call to a debt free scream, or if someone calls in with additional questions, would be fun and educational to hear a narrative like that! Just a suggestion, love your work!

[davester]

If she is bringing in $4, 700/ month, she should be able to pay all of those cards off in 6-8 months unless she bought more home than she could afford.

[billyrayband]

Start paying off the lowest balance ones first and tear them up as you zero them. Don't get knocked up for a while. You need to be able to pay all monthly bills with one income. Cut expenses and/or downsize if you can't.

[ChrisInvests]

She doesn't know what to do? Pay the bills! 🙄

[carojames]

They spend it now then worry later, with no thought of anything in between.

[sulaimankhan]

People in america need to understand that economy crashes because of over spending.., change your spending habits

[afail]

Transfer all the balances to a single card and spend the 6 month grace period to save $6000 to put toward it. At least then the 19% is on less principal.

[marknc]

If you get sick and are unable to make payments then tell the credit card companies this information as soon as possible. They may be able to work something out with you. But if you let things go it can only get worse.