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...

Rotary Sponsors Seventh Annual Taste of Muhlenberg Fundraiser

MUHLENBERG COUNTY, Ky. (4/22/14) — Chefs, restaurateurs and caterers from throughout the county and beyond will serve… Read More

Muhlenberg Last Day of School

POWDERLY, Ky. (4/22/14) — The Muhlenberg County School System Board of Education answered the question on the minds of… Read More

Most Read This Week (Site-Wide)

April 22, 2014 9443

18 EPA Earth Day Events Take Action on…

in News by EPA
April 21, 2014 4995

Meet The Hopkins County Magistrate…

in News by Rita Dukes Smith, SurfKY News Director
April 21, 2014 3378

Fire Destroys Old Tobacco Building in…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 22, 2014 3367

Three Juveniles Charged in Connection…

in Top Stories by Paul McRee, SurfKY News Reporter
April 21, 2014 2769

Biscuits & Bacon - Easter Eggs and…

in News by SurfKY News

Most Read Stories from Hopkins County

April 22, 2014 2009

Madisonville Woman Charged with Internet…

in Top Stories by Christopher Rogers
April 19, 2014 1533

Fifth Third on Main Street Comes Down

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 19, 2014 1371

MPD Arrests Juveniles for Recent Rash of…

in Top Stories by Madisonville Police Department
April 19, 2014 1061

Louisville Man Charged in Madisonville…

in Top Stories by Madisonville Police Department
April 21, 2014 541

Hanson Student Among 25 Receiving…

in Top Stories by Abbie Darst

Most Read Stories from Owensboro

April 21, 2014 2127

'Heath & Molly' Benefit Concert…

in Top Stories by Paul McRee, SurfKY News Reporter
April 21, 2014 1382

Owensboro Chamber Plans First ‘Lunch…

in News by Dennis Beard, SurfKY News
April 22, 2014 569

DCPS Among Top 100 Nationally for Finance…

in News by Lora Wimsatt
April 22, 2014 405

New Hwy. 54 Traffic Light to Go Into…

in News by Keith Todd
April 22, 2014 190

Owensboro Museum of Fine Art Plans Exhibit

in Top Stories by Mary Hood

Most Read Stories from Muhlenberg County

April 21, 2014 3378

Fire Destroys Old Tobacco Building in…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 22, 2014 3367

Three Juveniles Charged in Connection…

in Top Stories by Paul McRee, SurfKY News Reporter
April 21, 2014 1662

One Injured in Rosewood Wreck

in Top Stories by Trooper Stu Recke
April 22, 2014 905

Parsons Named Student of the Month

in Top Stories by Joyce Riggs
April 22, 2014 776

Muhlenberg Last Day of School

in Top Stories by Paul McRee, SurfKY News Reporter

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 06social 21social 22social 04social 03