Justin-H.S.
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- May 8, 2020
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You mentioned selling a house to get out of debt. The scenario I'm submitting is debt that they can't both pay and have a single income household (consumer, medical, etc.). What is the answer for these? Bankruptcy? Leave their kids in school and have the wife work?
Not selling a McMansion to get out of debt, but to minimize debt. I have to admit, you’d have to have that instinct earlier on in life to realize being in debt to build “credit” is a stupid idea, and postpone credit cards and loans for as long as possible. “Credit” works geopolitically, but individually it leads to excess and debauchery. If you’re already in debt up to your eyeballs, I can’t help you. I’m speaking from a place of never having gone into excessive debt in the first place. Dave Ramsey can help for those in excessive debt.
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