Couple who racked up $1 MILLION debt goes viral after wife, 29, calls finance guru Dave Ramsey
Do you think your finances are in bad shape? Young couple who racked up nearly $1 MILLION in debt go viral after radio star Dave Ramsey posts TikTok clip of woman, 29, begging him for help
- 29-year-old woman explains that debts consist of mortgages, student loans, credit cards and car loans
- She and her husband both work for the government and have a family income of $230,000
- The clip from 2018 has gone viral after it was shared by Dave Ramsey
A radio call involving a 29-year-old woman who racked up nearly $1 million in debt to her husband has gone viral after she begged for help “without filing for bankruptcy.”
The Washington native had called Christian personal finance guru Dave Ramsey’s radio show to detail her financial struggles.
The exchange took place in 2018, but the music video resurfaced this week when Ramsey posted it to his TikTok channel and was shared again on Twitter, where it has been viewed more than nine million times.
Ramsey berates the couple – who both work for the government – and orders them not to spend any money.
“You’re not going to see the inside of a restaurant unless it’s your extra job,” he tells her.
Dave Ramsey listens in horror when he learns of a woman who has racked up nearly $1 million in debt to her husband
The caller and her husband, 32, who both work for the government, make about $230,000 combined.
She says they both have advanced degrees, meaning their student loans account for a large portion of the debt, as do mortgage, credit card, and car loans.
The clip begins with the woman telling Ramsey, “We’re probably just under $1 million in debt and we want to know how to get out of debt without filing for bankruptcy.”
She went on to explain that the pair both have advanced degrees, meaning their student loans account for a large portion of the debt.
When asked how much her mortgage is, she explained that $210,000 of the debt was what the couple owed on their home.
A shocked Ramsey asks, “So you’ve got $600,000 worth of what?”
She said $335,000 of the money comes from student loans, with the rest in credit card debt.
Ramsey adds, “I mean, are you both on this? Or is this just one of you who’s gone completely crazy?’
He later asks, “Is there any acknowledgment from both of you of how absurd this situation is?”
She says her husband is responsible for most of the credit card debt, while she has a larger student loan.
“Well, you’re scared, and you should be,” Ramsey added.
“You are disgusted and you should be. You are in the early stages of being sick and tired of being sick and tired and you should be.
“So I’m getting ready to destroy your life as you know it because your lifestyle is significantly higher than your extremely good income and has been for a while and so you’ve gotten used to spending money like you’re in the Congress sits.”
In the next clip he says, “You made $210,000, made $310,000.” I’m getting ready to put you on $30,000.
“You’re not going to see the inside of a restaurant unless it’s your side job.”
According to data from the Federal Reserve Bank of New York, Americans have $986 billion in credit and debit card debt.
The figures are from the last quarter of 2022 and marked an increase of 15.2 percent compared to the same period last year. It means that the average American household has an average of $7,951 in credit card debt.