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Take Out A Loan To Pay Off My Credit Cards?
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@johnhwang339 Жыл бұрын
Control your debt before your debt controls you.
@jomontanee Жыл бұрын
WISDOM! 👍🙏
@disco4535 Жыл бұрын
"Pay off your debts" wow good one John. really going out on a limb with that one
@ryanmordick9736 Жыл бұрын
My man's called the wrong show
@jomontanee Жыл бұрын
How can the 7:00 advice is “the wrong show”? Or you need shows that encourage people to grow debt mentality by getting into more and more debts?
@ryanmordick9736 Жыл бұрын
@@jomontanee he wasn't asking them how he should handle it, I think he knew before he called that his idea was the wrong one and I think he wanted validation and he found none. He sounded surprised by their answers.
@josephpeffer4953 3 ай бұрын
Exactly
@kahlilcalvo9610 3 ай бұрын
Why not apply for a credit card use them 1 time & pay it slowly just make sure don't overcharge it.. It will help your score as long as you pay on time & above the minimum payment. Just my unsolicited opinion...he he he
@JamesSmith-qe1mn Жыл бұрын
Caller wants a house so bad he’s willing to take shortcuts…pay your bills my guy. Child support and debt 😭 you don’t need a house you need *Income* !!!
@howlbeast Жыл бұрын
Plus he wants to buy a home in NY.. he needs to double the years and a second job inc overtime
@lesabri Жыл бұрын
Only if you can get a lower APR
@Dreamprism Жыл бұрын
And if they don't charge you such a ridiculous initiation fee that it wipes out the benefit of the reduced APR.
@johnyang1420 Жыл бұрын
Usually a 3% transaction fee
@leeannvan1422 Жыл бұрын
It doesn’t make sense to take out a loan for $7k in cc debt if you have the money to pay it off. I would just pay it off than build it back up and stop using cc
@linuxsurfer2002 Жыл бұрын
Especially given his income
@universal3024 6 күн бұрын
He’ll have no emergency saving though
@Krav_Lady Жыл бұрын
Angry Rachel was the best. 🤣🤣🤣
@linuxsurfer2002 Жыл бұрын
Smoke coming out of her ears lol
@PInk77W1 Жыл бұрын
I haven’t borrowed anything money wise In years. Paid cash for my home a few years ago
@Sid00077 9 ай бұрын
If i were him, i would pay it off completly but still use it for groceries, streaming services, insurance, etc. And then set up a reminder to pay off the statement balance at the end of the biling period so that I can still maintain and improve my score without paying huge interest that CC companies charge. Taking out a loan makes sense only if you are adamant on paying off your debt and if you get a decent rate that is lower than the one provided by the CC company. Oh, and after you do get a long, you lock up your CC in a safe and completly forget about it till everything is paid off (including the loan you took out).
@JackStrangelove Жыл бұрын
A lower interest rate is better than interest rates on cards. Control your habits and don't use the cards! Get the loan and avoid the higher interest rate. This guy has money in the savings and is paying crazy high interest. Pay off the card from savings. Don't use the card. Don't lease anything, own it.
@BlueDauntless Ай бұрын
That’s the point. His behavior isn’t going to change with shifting the debt. If his behavior doesn’t change, he’s going right back into debt or he’ll just stay there
@sviolet892 Жыл бұрын
Haha Rachel said *why* just like Dave 😆
@KalelaChannel 8 ай бұрын
I am no finance expert but I can't help but think the advice she gave is wrong.
@Tickleyourpickle420 3 ай бұрын
She gave really sound financial advice. Get an emergency fund and pay off the debts. It really is that simple
@pdxmusl1510 23 күн бұрын
It's not. A credit score is absolutely a profitability score for the debt products world. Its how easy is it to remove your wealth from you score. It's also a fairly new thing. It hasn't been around that long. Manual underwriting is how everyone used to get loans basically. Now the one thing they tend to leave out is less banks still do this. So depending on factors you might have less choices.
@Nintendogamer757 Жыл бұрын
Just pay the cards to boost your score lol
@Al_Sayid_Sanad Жыл бұрын
No point of a score if you’re not going to finance anything.
@Jay-pf2cn Жыл бұрын
@@Al_Sayid_Sanad But you don’t have cash for a car and a house. Stop it.
@Al_Sayid_Sanad Жыл бұрын
@@Jay-pf2cn yes? I have a truck worth 40k I paid cash for, and a house you just have to manual under-ride
@drew3045 Жыл бұрын
@@Al_Sayid_Sanad what was the process like of getting a manual underwrite? was it easy? was it difficult? how many mortgage companies did you talk to?
@Zizzyyzz Жыл бұрын
@@Al_Sayid_Sanad "under-ride"? 🤔
@choreomaniac Жыл бұрын
Sounds like a smart guy, who really, really needs FPU. He could be in a good position in less than a year. Get out of the car lease, pay off the debt, build an emergency fund and start saving for a house. He could be good fast.
@IsidroMaxwell-ej4iu 7 ай бұрын
Remarkable attention to detail, *911 Mike Help* making every interaction exceptional.
@Lonniemcmahon 7 ай бұрын
Awesome I looked *Mike* up and found their website platform
@Christopherwoods-ul2py 7 ай бұрын
Thanks I tried them too , they have a service you can always count on.
@yarrdayarrdayarrda Жыл бұрын
Fastest way to build wealth is not to bring kids into this world that are unintended.
@martinramirezmi5457 Жыл бұрын
I highly agree with that.
@markobasi359 Жыл бұрын
He could be divorced
@johnyang1420 Жыл бұрын
I hope you dont believe in abortion
@martinramirezmi5457 Жыл бұрын
@@johnyang1420 Who are you talking to?
@Shaolin91z 7 ай бұрын
Thanks Lord for your peace
@Robert-ug5hx Жыл бұрын
We paid our smallest card to the highest, it went pretty quick
@undergroundradio1 9 ай бұрын
I payed off my cc with a personal loan which made my score higher, i didnt touch my cards until i oayed off my loan. Everyone is different and if you can get a loan why not. You have to be disciplined to not spend money off those cards
@lorrainei1622 3 ай бұрын
What type of loan did you get? I’m considering doing this too.
@BlueDauntless Ай бұрын
She said it depends on behavior. Shifting debt without the plan to pay it off isn’t behavior that leads to paying it off. Already paying if off but getting a loan to do it is different. They answer their questions based on behavior. This guy is going to go right back into debt if he’s just moving it around.
@lilcoladez Жыл бұрын
He needed Dave to yell at him
@jimroscovius Жыл бұрын
I love Rachel, but Dave would have explained this better.
@GCResells Жыл бұрын
Would 25,000 in credit card debt be worth it to get a loan to pay it off to become debt free, she doesn’t need to build credit history or anything just needs to pay off the credit cards but making minimum payment won’t work
@JasonGroom 13 күн бұрын
You can get a mortgage without a credit score, but, generally speaking, you can get better terms on that mortgage with a good score compared to no score
@dougprentice1363 Жыл бұрын
Most people don't know about manual underwriting.
@greggalletta8679 Жыл бұрын
You are going to pay more for a manually underwritten mortgage. Because of the loan amount the higher rate will cost a ton.
@alexbryant2796 Жыл бұрын
This is not accurate. If you are in a strong financial position, then you pay the same rates as non manually underwritten loans.
@insideoutsideupsidedown2218 Жыл бұрын
Where did you get that information from? Because if you follow the baby step plan, that mortgage will be paid off in 7-10 years, not 30
@BiggSneaddd Жыл бұрын
@@insideoutsideupsidedown2218 Amen
@BiggSneaddd Жыл бұрын
@@alexbryant2796 Amen
@jomontanee Жыл бұрын
You give a misinformation!
@kentondragon9263 Жыл бұрын
Yes, it could be your new hobby, paying off debt and leaving it for your children's children to pay off. 😌👍
@reggiesaidit513 Жыл бұрын
Contrary to popular belief, not everyone wants to be debt free. They just want to be able to manage debt more effectively. So instead of them projecting on him what they wanted for him . They should of at least given him a Plan B scenario which would of answered his question.
@surbhikshah2423 3 ай бұрын
I did not understand I thought when taking new mortgage loan dont they check the credit first?
@spencerloch6449 Жыл бұрын
Unfortunately I feel they missed a great opportunity to teach him about personal finance :/
@DrJaylenPayne 8 ай бұрын
Do tell
@TheEdward1953 Жыл бұрын
You better say she’s right
@danaildon3716 Жыл бұрын
I NEED MORE INFO ON THAT MORTGAGE INFO!!!!!
@onesimplecuban 11 ай бұрын
That’s funny, my whole life has been a lie. I honestly thought you’re supposed to maintain a high credit score, but OK here’s a scenario I want to move out and rent an apartment. Management will run credit check and based on that credit check, I might not be approved to rent there.
@asafry2873 10 ай бұрын
If you had savings and just no debt you should be fine. Maybe a different deposit.
@JasonGroom 13 күн бұрын
You do not need to accumulate debt to have a good credit score. That is a myth that they need to stop propagating. You need to responsibly use credit. Admittedly, most people cannot use it responsibly, but most Americans can't really afford their home either
@BlueDauntless Ай бұрын
Bro, pay off your credit cards. Build your emergency fund. Then save for a down payment on a mortgage! Don’t go into more debt.
@nickelly8002 7 ай бұрын
Im literally in this situation rn.. No other debt than the $6500 of cc debt.. $65K in savings, So in my head, Id get a personal loan, pay off BOTH then see if my FICO can finally reach 750+. and I Guess thatssss not the move lol
@jimroscovius Жыл бұрын
This guy's going to have loans the rest of his life. I love being debt-free, having a paid-off house, paying cash for cars, etc.
@roolyfe Жыл бұрын
How did you do that?
@ginoturano6821 Жыл бұрын
Income please
@ginoturano6821 Жыл бұрын
Income please
@roolyfe Жыл бұрын
How much do you make per year?
@dipsuny Жыл бұрын
Tell me another story please?
@Blitznstitch2 10 ай бұрын
Why would she say no.
@luckylib Жыл бұрын
Hey yall
@camcam221133 Жыл бұрын
Brian wake up!!!
@YasinNabi Жыл бұрын
Luck is 0.0001% Hard work is 100% .... instead of waiting to get lucky, start working hard and get lucky.... Hard work and investing in yourself is the best investment ever. a fellow creator....
@mltbkr Жыл бұрын
Yes!!!! Rachel and Ken!!!!
@roolyfe Жыл бұрын
I owe 💯 in child support! I got denied 🙅 from Churchill Mortgage 💸
@dipsuny Жыл бұрын
Racism and redlining?
@mph5896 Жыл бұрын
@@dipsuny being a man and having kids. Courts run you through the ringer
@roolyfe Жыл бұрын
@@dipsuny of course
@dipsuny Жыл бұрын
@@roolyfe ramsey’s organizations being equal? For surrrre! Thank you I’ll stick to my VA loans.
@tharpeaddy 10 ай бұрын
They show car commercials like they show student loan commercials That’s stuff ain’t cheap at all not even at the slightest Selling you things that cost more than your own life…. Selling you things that cost more than life itself You don’t need a gas guzzler to get thorough life I promise
@sickmansgas483 Жыл бұрын
Bros doing something wrong if he’s got no house and only 9k in the bank with 7k coming in, a month 🤨
@esonon5210 Жыл бұрын
What he wants to do is seriously stupid. Does he not know his score will go up when he pays them off?
@genxx2724 Жыл бұрын
Then it will drop. Making monthly payments is what results in a higher score.
@howsitgoing3967 Жыл бұрын
Rachel 👍🏻💪🏻
@MrECatalan Жыл бұрын
Rachel is bae 😍
@samuelburton9761 Жыл бұрын
Simp 😆
@jimmymcgill6778 Жыл бұрын
Kids. Who never seen a woman before.
@David-wo9un Жыл бұрын
@@jimmymcgill6778 Imagine that you watch/listen to financial advice and the only thing you get out of it is that you saw an attractive woman; hope he’s wearing a helmet.
@trevorj7323 Жыл бұрын
@@David-wo9un why are you so pressed about it? He’s not hurting anyone
@C2xBB Жыл бұрын
She's a married woman
@AbeMurillo777 23 күн бұрын
No credit score for a mortgage???
@daveant6620 Жыл бұрын
Multi Family house yea
@a.d3167 8 ай бұрын
Can get a home through manual underwriting??
@mattbecker8663 2 ай бұрын
Yes, but it's rare. Those same mortgage companies usually charge higher rates than typical, mainstream lenders as well. Paying off debt is a great idea. Telling people to not care about your credit score - horrible idea.
@dreamagery Жыл бұрын
He needs to commute from Jersey and buy abused car.
@CharCharJars Жыл бұрын
👏🏾👏🏾👏🏾
@erikab178 Жыл бұрын
What a horrible call. Answering before having any details and it took so long to get his basic stats to see the full picture. I do like the personalities, but they don’t compare to Dave
@jomontanee Жыл бұрын
@@brucebobtrotter2170 Why you keep watching?
@genxx2724 Жыл бұрын
Yes, these two are murky. They’re not qualified. Granted, Ken’s role on the show is psychology, not finance.
@pdxmusl1510 23 күн бұрын
They stopped him because of motivation and teaching. If he's bent on increasing his credit score, then any advice they are likely to give he's not going to follow. So instead of wasting time with that dance. They just went straight for the confrontation. So the guy could make up his mind if he wants to even listen to there advice. Idk for sure how dave would have handled it. But it was the right call by these two.
@pauleff3312 11 ай бұрын
"The better your score the more we'll trust you that we can get our fangs intro you and suck something back out
@MsValiG 10 ай бұрын
let's see how stupid I am for thinking to do this now
@asafry2873 10 ай бұрын
The risk is you will feel you accomplished something by shifting the debt and you may add the debt when another emergency comes up. If you do do it i recommend cutting all the cards up.
@kenryburn4775 Жыл бұрын
Use other peoples moneys not yours
@ginoturano6821 Жыл бұрын
85000 in NYC is like your making 20000 per yr
@sblijheid Жыл бұрын
You clearly don't live there. His only issue are taxes and child support.
@ginoturano6821 Жыл бұрын
@@sblijheid I do live there
@kbthegoat824 Жыл бұрын
@@ginoturano6821 if you did you would know most people in New york don't make that. Manhattan is not the whole new york.
@ginoturano6821 Жыл бұрын
@@kbthegoat824 Well NYC is Manhattan
@kbthegoat824 Жыл бұрын
@@ginoturano6821 I'm sure you live in Manhattan
@lukeharris2622 Жыл бұрын
✝️🙏
@jimmymcgill6778 Жыл бұрын
People are so out of touch with reality. You need a score. Most place does not do manual underwriting. Paying it off, will make it go up.
@oldfordman68 Жыл бұрын
There are many companies that do manual underwriting stay away from the big ones like quicken loans
@blackworldtraveler3711 Жыл бұрын
@@oldfordman68 Manual Underwriting doesn't mean guaranteed approval. Definitely not a better rate in his situation and in today's environment. Car lease and child support isn't good either. I'm not a fan of debt and moving it around but some people need more options today initially than to depend solely on manual underwriting.
@amireallythatgrumpy6508 Жыл бұрын
Most places should be avoided at all costs. If there were any justice in the world, places that do not do manual underwriting would be shut down. But that won't happen in America, the country where every single person is a dishonest greedy crook.
@howlbeast Жыл бұрын
Pay more than the monthly payment & my score double in 2yrs following that process & it’s surreal
@insideoutsideupsidedown2218 Жыл бұрын
@@blackworldtraveler3711 or just wait until you have saved up enough money.
@truwaters7309 7 ай бұрын
You do need credit to purchase a house in Cali fasho
@sams1215 Жыл бұрын
This is bad advice.
@jonsmith9728 Жыл бұрын
someone likes collectors, loan sharks, and bankruptcy.... to each his own but personally i like to sleep and night and have the ability to tell my employer off and be fine if they become douches
@insideoutsideupsidedown2218 Жыл бұрын
So, pay off your debt, save money for a down-payment for a house, live within your means. Yeah, all bad advise.
@jomontanee Жыл бұрын
How 7:00 is the bad advice? Or you agree to debt mentality?
@PInk77W1 Жыл бұрын
I think it is great advice. I have no debt I paid cash for my home. I have a big bank account. I travel the world. Life is good
@estebanrocha3245 Жыл бұрын
1st
@citylights3452 Жыл бұрын
Is Rachel married?
@front331 Жыл бұрын
Yes. Winston Cruze is the lucky guy.
@jimmymcgill6778 Жыл бұрын
Why? And who cares?
@citylights3452 Жыл бұрын
@@front331 thanks dude for the info
@David-wo9un Жыл бұрын
@@jimmymcgill6778 Citylights though he had a chance.😂😂😂😂😂😂😂😂😂😂
@abdulaliakbar1175 Жыл бұрын
You want to SIGN YOUR DEATH CERTIFICATE???
@dipsuny Жыл бұрын
Has Rachel ever made change or paid a bill? 😂 This family is making the Clintons and bushes look honest Coleman man..go easy on the man make up..
@amireallythatgrumpy6508 Жыл бұрын
There is no such thing as an honest American.
@dipsuny Жыл бұрын
@@amireallythatgrumpy6508 speak for yourself…boomer
@amireallythatgrumpy6508 Жыл бұрын
@@dipsuny Thanks for proving my point, you snot-nosed little kid.
@PInk77W1 Жыл бұрын
She is smart
@dipsuny Жыл бұрын
@@PInk77W1 did you give her the IQ test at MIT?
@IncredibleDrone Жыл бұрын
Ah Ramsey this show is interesting. They seem to think that there program works but it doesn't unless you sell something or give up your life to some employer for 50+ years.
@amireallythatgrumpy6508 Жыл бұрын
The only time it doesn't work is when someone is too stupid to get their income to a point when it doesn''t work.
@insideoutsideupsidedown2218 Жыл бұрын
You mean, you have to go to work? And make money? And live within your means?
@sams1215 Жыл бұрын
Don't listen to the Ramsey show
@Thenagymom Жыл бұрын
If you feel this way, why are you here listening and posting?
@David-wo9un Жыл бұрын
@@Thenagymom 💯
@lowkeylogic303 Жыл бұрын
@@Thenagymom Because people are trying to find good financial advise and while the Ramsey show has decent advice most of the time, this isnt one of those times. Really out of touch with the modern middle class ($55k/year income) people.
@blackworldtraveler3711 Жыл бұрын
@@lowkeylogic303 He can just leave instead of being emotional.
@luzgenao8492 Жыл бұрын
Yes because Dave has only helped thousands of people get out of debt. Lol
@lightspeed5618 Жыл бұрын
Like it's makes me jealous as fudge
@lightspeed5618 Жыл бұрын
This makes me jealous I as fudge
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