Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster

Dave Says - September 29, 2013

dave ramsey turq 300KENTUCKY (9/29/13) - This week Dave discusses 'Lumping It' and 'Cut the Health Insurance?'

Dear Dave,
I have $400 in debt on a credit card, and I haven’t made a payment on it in about two years. The debt has been sold several times, and now the amount they’re asking for is over $1,000. I’d like to work something out, but how do I know the collection company that is calling me now is legitimate? - Lorenzo

Dear Lorenzo,
It’s normal for a debt this old to have been sold a few times. My guess is the company that’s calling you is legit, and they probably bought the debt for pennies on the dollar.

Whatever you do, don’t set up a payment arrangement. They’re asking for over $1,000 because they’ve added stuff like late charges and interest. Let’s go back to the original amount of $400 and see if they’ll accept a one-time, cash payment to settle things. Make sure you get it in writing if they accept and don’t give them a dime until after you get the written agreement. Then, once you have the agreement, send them $400. Do not, under any circumstances, give them electronic access to your checking account.

You’ve waited a long time to take care of this, and in the process you’ve made things more difficult. I’m glad you’ve decided to clean up your mess, though. Late is better than never, Lorenzo. Just remember, you’re still responsible for debts you incur—even if the company you originally borrowed from has sold it to someone else! - Dave
 
Dear Dave,
Is it ever okay to stop paying or drop health insurance altogether in order to pay off debt? - Shauna

Dear Shauna,
No! The No. 1 cause of bankruptcy in America today is medical bills, and credit card debt is a close second. That doesn’t mean medical bills only of the uninsured. It also includes money from co-payments, deductibles and the fact that people didn’t have any savings. One accident or unexpected event can leave you with thousands of dollars in medical bills, and that’s even with a good health insurance policy.

I don’t want anyone walking around without health insurance. But I’m not talking about the Affordable Care Act and all the other mandated crap the government is trying to shove down our throats. I’m talking about a solid health insurance plan along with having some money saved. Do this first then you can have all the philosophical discussions you want about whether or not you’re supposed to pay for someone else’s healthcare and upkeep.

At the end of the day, it’s absolutely vital that you have your own health insurance. I hope I haven’t been unclear on this topic! - Dave

Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.
 

Disclaimer: The content supplied by columnists and letters to the Editor on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such content, statement, or opinions therein. SurfKY News does not necessarily adhere to or endorse content provided by outside non-staff sources.

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

In Other News...

Central City Lions Club Charity Auction Set for Aug. 28

CENTRAL CITY, Ky. (8/19/14) — The 56th annual Central City Lions Club Charity Auction will take place from 5:30 p.m.… Read More

Deterioration of Caney Station Cemetery Causes Concern

GREENVILLE, Ky. (8/20/14) — Old Caney Station Cemetery is the oldest cemetery in Muhlenberg County. Located near the… Read More

Most Read This Week (Site-Wide)

August 17, 2014 3607

Greenville Police Conducting Traffic…

in Top Stories by Wes Miller
August 16, 2014 3565

Pogue's Automotive Annual Picnic Brings…

in Top Stories by Charles W. Riley II, SurfKY News
August 18, 2014 3203

Man Injured in Early Morning WKP Accident

in Top Stories by Rita Dukes Smith, SurfKY News Director
August 18, 2014 2885

Owensboro Board of Commissioners…

in News by Beth Cecil
August 18, 2014 2756

Unlawful Solicitation

in News by Sgt. J.D. Winkler

Most Read Stories from Hopkins County

August 18, 2014 2506

Madisonville Man Charged for Shoplifting,…

in Top Stories by Madisonville Police Department
August 20, 2014 2485

Park Avenue Trespass Call Leads to…

in Top Stories by Madisonville Police Department
August 16, 2014 1431

Non-Partisan Offices Deadline Passes -…

in Top Stories by Keenan Ratliff
August 18, 2014 1292

Madisonville Firefighters Recognized for…

in Top Stories by Rita Dukes Smith, SurfKY News Director
August 16, 2014 1254

Madisonville Police Conducting Sobriety…

in Top Stories by Lt. Charles Young II

Most Read Stories from Owensboro

August 18, 2014 2885

Owensboro Board of Commissioners…

in News by Beth Cecil
August 18, 2014 2756

Unlawful Solicitation

in News by Sgt. J.D. Winkler
August 18, 2014 2687

RiverArtes Opening at OMFA

in News by Owensboro Museum of Fine Art
August 19, 2014 2102

Free Arthritis Exercise Program will be…

in News by Woody Maglinger
August 19, 2014 1843

Municipal Art Collection on Exhibit at…

in News by Mary Bryan Hood

Most Read Stories from Muhlenberg County

August 17, 2014 3607

Greenville Police Conducting Traffic…

in Top Stories by Wes Miller
August 16, 2014 3565

Pogue's Automotive Annual Picnic Brings…

in Top Stories by Charles W. Riley II, SurfKY News
August 18, 2014 3203

Man Injured in Early Morning WKP Accident

in Top Stories by Rita Dukes Smith, SurfKY News Director
August 18, 2014 2476

Luke's Flea Market Vendors' Home Away…

in Top Stories by Charles W. Riley II, SurfKY News
August 18, 2014 2370

'How Dry I Was'

in Top Stories by Rita Dukes Smith, SurfKY News Director

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 03social 04social 22social 21social 06