SHIRO @Shiroblunt - Twitter Profile

Dave Ramsey was stunned when a caller making up to $25,000 a month said he was thinking about filing bankruptcy over $12,000 of debt. Caller: “I could file Chapter 7, pay about $1,500, and start saving for my first house.” Dave Ramsey: “You make $10,000 to $25,000 a month and you're worried about $12,000 in debt?” Caller: “Yeah... I know it sounds silly.” Dave Ramsey: “You could've lived on half your income and paid that off in one month.” The caller explained the money was new and his income fluctuates, so he thought bankruptcy might be the faster route to rebuilding his credit. Caller: “My girlfriend has good credit, and I'm trying to get mine back on track.” But Dave Ramsey said the plan wouldn't work anyway. Dave Ramsey: “Bankruptcy puts you out of the house business for two to three years.” Then came the reality check. Dave Ramsey: “The judge is going to look at your income and say, ‘You have the ability to pay this back.’” Caller: “I guess it does sound silly.” Dave Ramsey: “Go pay your bills. Bankruptcy isn't your solution.”