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

Started 11/8/2013
Started 11/8/2013
Started 11/8/2013

In Other News...

Henderson Middle School Student Earns First Place in State Contest

HENDERSON, Ky. (4/16/14) — North Middle School has been informed that their eighth grade student, Andrew Sauls, is the… Read More

KSP and DEA Partner for National ‘Take Back’ Initiative

MADISONVILLE, Ky. (4/16/14) —Got drugs? Join Kentucky State Police and the Drug Enforcement Administration Saturday,… Read More
Started 11/8/2013

Most Read This Week (Site-Wide)

April 16, 2014 17738

UPDATE- Sheriff's Office Following Leads…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 14, 2014 5839

U.S. Bank Hanson on Lockdown Due to Bomb…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 14, 2014 5113

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4349

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2825

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter

Most Read Stories from Hopkins County

April 14, 2014 5113

Pedestrian Killed During Two Vehicle…

in Top Stories by Chris E. King
April 13, 2014 4349

One Dead in Two Vehicle Head On Collision

in Top Stories by Chris E. King
April 15, 2014 2825

Police Searching for Sureway's 'Baby…

in Top Stories by Taylor Riley, SurfKY News Reporter
April 12, 2014 2745

One Injured in Two Vehicle Accident in…

in Top Stories by Rita Dukes Smith, SurfKY News Director
April 15, 2014 2365

Multi-Agency Investigation Leads to Drug…

in Top Stories by Lori Blakeley

Most Read Stories from Owensboro

April 14, 2014 1754

Grow Garden Grow - Spring Has Sprung

in News by Barbara Cecil Russ
April 15, 2014 1085

Owensboro Police Investigate Auto Accident

in News by Michael Hathaway
April 13, 2014 924

Two Daviess County Men Busted for…

in Top Stories by Scott Gibbs
April 15, 2014 830

Owensboro Parks Offers Tennis Lessons

in News by Britni Bunn
April 14, 2014 590

Owensboro Health Hosts Tours for…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

April 13, 2014 2697

Muhlenberg 4-H is Buzzing

in Top Stories by Janie Culton
April 14, 2014 2094

MCC Staff Shares Good News with…

in Top Stories by Paul McRee, SurfKY News Reporter
April 16, 2014 1874

Sheriff's Deputies Nab Central City…

in Top Stories by Sheriff Curtis McGehee
April 15, 2014 1391

'Walk Right Back' An Everly Brother's…

in Top Stories by Paul McRee, SurfKY News Reporter
April 15, 2014 1316

Local MCHS Students Train at Job Corps

in Top Stories by Karen Robinson

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