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This couple is $1.8 million in debt.

Dave Ramsey

1,013,970 subscribers

61,917 views • 1 year ago •via X (Twitter)

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A coffee shop owner is making $750,000 a year is buried under $3.7 MILLION in personal and business debt, and doesn't know which to pay off first. His debt includes: - $1 million in SBA loans - $270,000 in vehicle loans - $1.9 million mortgage - $200,000 HELOC - $280,000 flip house loan - $55,000 owed to the IRS Despite generating $4.2 million in business revenue last year, he told Dave Ramsey he still felt overwhelmed and wasn't sure whether to tackle his business debt or personal debt first. Dave Ramsey's answer: Stop borrowing, clear the IRS debt, sell the flip house, then attack the remaining debt using the debt snowball. His biggest takeaway; "You make way too much money to feel this broke."

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Dave Ramsey couldn’t believe this couple was drowning in over $800,000 of debt and loans. Caller: “my husband and I have just under $1 Million in debt and we want to know how to get debt free without filing bankruptcy” Caller: Mortgage = $210,000 Student Loans = $335,000 Credit card loans= $136,000 Car Loans = $35,000 Personal loans = $44,000 Dave Ramsey: “What in the world!”

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