29-Year-Old With $1m In Debt Going Viral After Call With Dave Ramsey
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A viral video featuring a young woman seeking financial advice from Dave Ramsey has taken the internet by storm.
The video in question was recently posted to Ramsey’s TikTok account and depicts the 2018 exchange between a 29-year-old woman and the financial adviser. In the video, the woman can be heard asking for help to pay off her and her husband’s debt, which was close to $1 million. She also indicated that she did not want to file for bankruptcy and wanted to find a way to pay off the debt without doing so.
The majority of the couple’s debt was from personal credit card bills and student loans. The woman mentioned that both she and her husband had advanced degrees, which were responsible for more than one-third of their total debt. Which is a lot more than the average household debt in the U.S.
Dave Ramsey helps young couple tackle a $1,000,000
As mentioned above, the woman began the conversation by telling Ramsey that they wanted to be debt-free without filing for bankruptcy. Ramsey’s first question was about their mortgage payments, to which the woman replied that only $210,000 of their debt was related to their house payment. This left Ramsey slightly perplexed, and he inquired about the rest of their debt.
The woman then revealed that $335,000 was related to student loans, and the remaining debt was a combination of credit card debt and additional student loans. This information prompted Ramsey to provide advice on how to manage the debt and eventually become debt-free.
Dave Ramsey then proceeded to ask the couple about their household income, to which the woman disclosed it was “about $230,000.” Ramsey followed up with, “Is there recognition on both your parts how absurd this situation is?” The woman confirmed, and Ramsey responded with, “Good.”