Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | Webster
Davis Motor Sales banner ad

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 2015 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.

button coupons
button classifieds

In Other News...

Spelling Bee Contest Winners Announced

HOPKINS COUNTY, Ky. (1/24/15) — Madisonville Community College hosted the 2014-2015 Hopkins County Spelling Bee on… Read More

Burrough: Tech Center Construction on Schedule

HOPKINS COUNTY, Ky. (01/23/15) ― Hopkins County Schools Career and Technology Center construction is on target at its… Read More

Most Read This Week

January 19, 2015 8632

Two-Year-Old Child Dies after Being Struck by…

in Top News For All Sites by Paul Ray
January 19, 2015 8529

UPDATE - Lady Mustangs Fall to South Warren

in Local (Muhlenberg) Top News by Steve LeMaster
January 22, 2015 6693

Nortonville Man Accused of Selling Drugs near…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 23, 2015 6661

Local Church's Faith Restored; 71 Souls Saved…

in Top News For All Sites by Gary Gates, SurfKY News
January 19, 2015 6653

Muhlenberg Board of Education Special Called…

in Local (Muhlenberg) Top News by Sherri Miller
January 20, 2015 6371

Bridal, Prom, Pageant Expo Planned for February…

in Hopkins News by Dana Brown
January 23, 2015 5191

Parents Face Charges after Marijuana Joint Falls…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 21, 2015 5005

KYDOT Pre-Treating Roads Thursday in Antipation…

in Top News For All Sites by Keith Todd
January 21, 2015 4629

Man Arrested after Allegedly Nodding off on Baby…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Jail
January 22, 2015 4441

MCEA Head: Further School Mergers Might Ease…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News

Stories Trending Today

January 23, 2015 1413

School Board Hears Public Comments Regarding…

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 24, 2015 1020

Five Injured in Two-Vehicle Collision

in Local (Muhlenberg) Top News by Chris E. King
January 24, 2015 947

Spelling Bee Contest Winners Announced

in Local (Hopkins) Top News by Joyce Riggs
January 24, 2015 947

Happenings, Meetings Listed for Hopkins County

in Hopkins News by Amber Averitt, SurfKY News
January 24, 2015 754

Kentucky 2014 Highway Fatality Figures Released

in General News For All Sites by Keith Todd
January 24, 2015 720

PSC Bars $54 Million in Kentucky Power Fuel Cost…

in General News For All Sites by Andrew Melnykovych
January 24, 2015 712

Burrough: Tech Center Construction on Schedule

in Local (Hopkins) Top News by Tammy Holloway, SurfKY News
January 24, 2015 710

Keeping the Faith - 'What It's Good For'

in General News For All Sites by Ronnie McBrayer
January 24, 2015 635

Hooked on Science - Feather Balance

in General News For All Sites by Jason Lindsey
January 24, 2015 634

Busting the Myths of Leadership

in General News For All Sites by David Taylor

SurfKY News Group, Inc.
Corporate Office & Studio
1125 Nebo Rd.  •  Madisonville, KY 42431
270.452.2727 (phone)
  •  270.452.2249 (fax)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2015 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social fbsocial twsocial yt
social gpsocial flr subscribevideoitunessocial rss