I always wish there could be a follow up video a year or two later on where these people ended up.

Whenever I see people with these beautiful vehicles, I always think “wonder how much debt that put them in?” as I drive off in my paid off old Honda lol

Unlike a lot of callers, this woman seems very willing to do what it takes to get out of the mess she's in.

He connected with this caller so much. I love that he gets so invested in his callers.

I have never seen Dave work so hard for a caller.

Bankruptcy is nothing to be ashamed of unless you plotted and schemed to exploit it. Bankruptcy is a right enshrined in law. Using it is undesirable in a perfect world, but when you are in over your head, it is a perfectly viable option. Most all creditors have no issue exploiting the law to their benefit...including encouraging reckless borrowing practices that will lead a person to bankruptcy. Creditors are rarely as pure as the driven snow. People need to look at their life like a business’ balance sheet. A business will handle finances based on what is in the business’ best financial interest. There is no reason why ordinary people shouldn’t think likewise when they find themselves financially underwater. Now, if you find yourself in this kind of mess after having used bankruptcy before, then you bear more of the fault.

Mr. Ramsey, THIS IS my all-time favorite call and advice I’ve seen and heard from your show!! You were direct, realistic, and set a plan that gave this caller HOPE! 🙌🙏👍 So encouraging for me to witness. THANK YOU!

Sounds like bankruptcy to me having that much negative equity

Am I the only person who watches Dave Ramsey videos not for financial advice, but to feel better themselves. Seriously. Listening to the people who call in make me feel better about myself.

That Dave is a truly intelligent, altruistic, and successful person... yet has issue getting in people's drama makes me love this channel.

Man, you just settled a lot of my nerves thanks for this insight Dave and thanks Jessica for opening up about your concerns!

“I’m doing great!! ... when should I file for bankruptcy?!”

Similar sitiation...I'm currently in debt for 50k on a truck and camp trailer...pooping my pants realizing I'm married to these two contracts for over 5 more years....stupid tax in full effect here everybody....I'll never finance anything again after I get myself outta this mess...

First two minutes...painful

And I thought having 9,000 left on my car was bad

5th wheels are very popular right now. there are a ton of people in Texas and florida that still need places to live. There are a ton of people that are full timing in rvs too. Find the right place and you could sell both

come on Dave, she could file for bankruptcy if a chapter 7 she can liquidate her assets and get rid of that debt and learn from her mistakes,If she can't do chapter 7 then chapter 13 is a payment plan she's still going to work a lot of things out and negotiate the loans all that stuff. This is more of a hassle What you're getting at is it's still going to put her in debt

I don’t agree with Dave. Your credit is going to be destroyed either way. So why not file bankruptcy.

3 years is not as long as it seems. You can do this!

Bankruptcy is only okay when your income is far below what you owe to your creditors. during bankrutpcy you have to go through what's called a "means test", if you pass meaning you make below the average salary for a single person then you can file bankruptcy, if you make more than that then you aren't allowed to file chapter 7 and have to file chapter 13 bankruptcy which is a repayment plan for i believe 5 years.

Made me realize I'm doing okay on debt. In a pickle now, but once I'm not adding extra debt, and once I have my nursing degree I'm gonna work my add off to get that stuff paid off!

Bankruptcy gives u a fresh start. Ramsey did it. So did our esteemed president .

How do you get direct advice from Mr. Ramsey ? Is it only through calling during a live show ? My wife works, I'm a stay at home dad. We have one income and two of the kiddos are toddlers. Feeling hopeless 😩 but we are all healthy 🙏

Dave dove in and took his time...great job! 👍

Great advice

Chapter 7 bankruptcy is an important option for low-income Americans to have access to a fresh start. At our website, we screen to see if people qualify and should file for bankruptcy. It's a great chance to get a clean slate and people shouldn't feel stigmatized because of it.

I can not believe they bought these cars....LOL what were they thinking

That's my "concern"; he has given her the answers she again refuses to do the right thing!!!!

There are people that file bankruptcy every 10 years... it’s not the end of the world.

Looking good getting no where and I call keeping up with the Jone!!

“130,000 in vehicle debt what do you a tractor trailer?” 😂

Just file bankruptcy if the pain is that bad and your income is low enough. Bankruptcy isn't hard to remove off your credit report

Just file bankruptcy Problem solved

Unless you have been thru it , it's very hard to comment . Every country does it differently.

Question... Dave said to save $1000 and to stop investments. The only investment I have is my TIAA retirement which I have $100 a month put in. Should I close it out and take the money to help pay off my debt or should just let the money sit. My husband just went back to work after being unemployed for 8 months. He is making $600 less a month and we are now over $1000 a month in the hole. Every time I try to suggest something to try I feel like I’m hitting a brick wall with my husband.

I got cancer when I was 28 and my insurance wouldn’t pay for it so I had to quit working to get on Medicaid to save my life. I haven’t been able to go back to work for 9 months and I have no more money or anyone to lend me. I don’t know what to do. I can’t go back to work for at least 3 more months...

Credit union isn’t going to negotiate until you miss a bunch of payments.

2 years is a lot better than a 5 year repayment plan they’d likely have to do to in a bankruptcy because I’d bet they make too much for a Chapter 7.

I hate going belly-up💔 Thinking about the cons of bankruptcy assuages this mental agony.

I think the most surprising thing is with all that debt she still describes herself as "great" ok then! Stay positive.

Amazing turnaround!

Dave is an Awesome answer-man!!!

I dunno, maybe she should just run out the lease and hand the keys and the car back to the lease holder when the time is up.

I am just celebrating 20 years as a 911 dispatcher having been able to save lives by grace of God, and perhaps just good luck. But financially I am devistated. To a tune of 50K, credit cards and I assure you a tough NY living here on a civil servant life. I never thought of taking my own life until this, it seems no matter what good I have put out, I just won’t get that break. I don’t begrudge those with money, I thought I was smart all along. I was. I lived a good life, it just caught up in small ways. With so many people suffering from serious disease it makes me feel horrible even complaining. How I wish I could end this all, in a positive note. I will return to work, I will give my all to save life or at least be the last caring voice a person hears, but in my heart I’ll be the one in pain. All to the tune of the almighty dollar, and an angel I just don’t have on my side.

I'd love to hear how this caller is doing today in 2021

I wish there was a follow up. I would bet they didn't get beaters to drive. They are way too bougie for that! Lol

the credit union will call her bluff when they see her credit score is still good.

I can answer this b 4 I watch video based on title so since I declared bankrupt 2 years ago it was honestly the best move i did the positives out weighed the negatives u ask what r the negatives stays on credit for 10 years score goes down can't buy house for 4 years unless fha then 2years and that's about it honestly now positives u get to keep ur house if u want all ur unsecured debt gone not student loans u get to choose to keep ur car or not none of ur retirement gone it's comes down to this if you kno paying off ur debt will take longer than the time to save money to buy a house which is around 2 years do it I mean especially if u have a lot I had bout 80k that would've taken longer than 2 years than you have to add years ontop if u want to save for house that could take 4 to 5 years I rather file get it over with than take them 2 years and save for a house and build back my credit within 2 years my score is 695 exactly what I was b4 I filled 2 years ago

The numbers on that F250 don’t sound right. I have a 2010 with 135K miles and I have a purchase offer of $30K right now from CarMax.

6/22/18.....Dave must be a magician to get thru this lady's call with 1 leased car + monster diesel truck + huge 5th wheerer! But all he said was for her to cut up her credit cards that were also unbelievable.....So didn't get that part of it..... But at least the people were loyal to Ford & Lincoln vehicles!!!! That's the only "funny" thought I could think up in this financial nightmare. Plus lady DIDN'T just decide to pile on any more debt & bankrupt! Let's hope she can return the car & find buyers quickly for the truck & trailer. PLUS I hope credit manager agrees to help this family out. GOD BLESS!

Keep the $450 lease, better than paying $7k to get out of it early

So why Did Dave file bankruptcy? Did he say he had no options?

Dave is the best car seller in the world...

When you can't fix it, its obvious

Whenever it would benefit you

Note to everybody Dave Ramsey as of now is worth $55 million it's easy for him to sit there and try to get people to avoid bankruptcy however he filed for bankruptcy back in the day and alleviated all that debt I think that's the best option for this person is bankruptcy

meanwhile i'm driving around in a $2000 subaru with split-boot cv joint fixes i did on the weekend -- and i own a 1.5 million dollar real estate empire

Look, i love Dave Ramsey and understand and agree with 99.9 percent of everything. Bit, the problem i have is that some if the advices he gives is completely out of touch with reality. I mean go to credit union and tell them you have a 19k unsecured note, because car is worth 32k in kbb. NO credit union or bank will "ok your right sire no problem". None None at all.

This man is so full of shit. I filed chapter 7,and 2 months after it discharged,i bought a 3 year old Acura at 2%. The key to filing a BK is to do it while you are still current on your bills. Your credit report will show no late payments,all credit will go straight to the BK. My score was 640 after my BK.

I wish I knew what they ended up doing.

gotta file but cant pay a lawyer -- can i do it w phone

Wow. Thats alot of debt.

0:53 Uh Oh!!! $130,000 Car debt. Here we go!

Ffinancing options. Keeping car dealers in business selling cars to people who can't afford.

This all helps "IF" she can get that stuff sold for what she should.

In my opinion, slackers who knew exactly what they were doing and planned this "escape route" of bankruptcy all along. Disappointed that Dave would help them work the system. Its the reason bankruptcy laws were tightened and now they even want to restrict it some more.

So, if I file how long does it take to increase your credit score and remove from your credit history

Rolls eyes at car debt.

She sounds smart... just made some terrible mistakes

See what happens when you wanna impression people and fake it! Lol

I bought a BMW 328i that's 2008 and it had 70,000 miles which is salvage. I paid $2,000 for it and $450 to fix it. I am so happy with me car. I owe $40000 in school loans and I am only worried for that. I don't go out and try my best to pay way more than what is requested. But I don't understand why I am always worried for my bills every month. Why 😥😥😥😥😥😥

If a person is currently self employed and has 28,000 in debt should they file bankruptcy?

Diesel trucks hold their value. KBB might say 30k but you need go look at what diesel trucks are going for in your area.

This is the problem with Dave's advice, what if the credit union manager says "Sorry, we're not giving out huge unsecured loans". This whole premise is based on the credit manager bailing them out. If they got into this huge mess to begin with, what credit manager would give them even more loans, and unsecured ones at that? I wish people would call back and say how it ended up turning out.

“It just sits there and I pay for it.” WHYYY!!!???

The fact the Ramsey is so successful after this speaks volumes

I’m a bankruptcy paralegal, and this is absolutely HORRIBLE advise. He is NOT an licensed attorney and should NOT be giving you legal advise. Please talk to an attorney if you are considering bankruptcy.

She needs to read: "Rich Dad, Poor Dad" 🙄

In sure they are upside down on the vehicles. Just file BK. Its time.

Did she ever call back with what happened?

How to stiff people you borrow from according to Dave Ramsey. Biblical Money Advice

Dave makes it seem so easy but it’s not!!! I don’t hv 5000 laying around. If I did I wouldn’t be in debt. Get it!!!

I had an 18k car loan I found someone to buy it for 14k and I used my savings to pay off the rest

I owe 8,000$ in car and i can not pay it nd selling the car will jyst give me 500$ am going to file bankrupt.

God bless Dave Ramsey!

And I bet she didn't do it. There's no way young spoiled oil families will agree to drive junk cars. It's not their nature. I'm one of them.

HELLO IF ANyone can help me I have a credit card that i owe 5,500 and another credit card $ 700 would I be able to go to Bankruptcy chapter 7 .???

I wonder where there at now

4 wheeler...5th WHEEL.

It’s the only option when you will never get out of an extraordinary amount of debt

Why not just live in the 5th wheel?

I don’t get the car thing. I have a 14 year old car no payments for over 10 years. I don’t need to prove anything I see everyone driving new cars and think wow

Why, why whyyy people in US buy new overly expensive things?

That sounds like a whole Lotta trouble, why not just let them go or do the bankruptcy that she was talking about?

Or u can go to swap a lease...

That sounds like a whole Lotta trouble, why not just let them go or do the bank Repsie that she was talking about?

Could just do a lease takeover in the Lincoln

Do you know if dogs can file for bankruptcy?

I want a update

Sorry but that can’t be right. Take a $7k loan to get out of a car loan. Have you heard of carmax? I returned my 2021 pilot back to a different Honda dealership and it was still worth almost dollar for dollar what the buyout was at the other dealership barely came out of pocket to pay off different