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

3/13 - 16
3/13 - 16
3/13 - 16

In Other News...

Marshall County Family Wins $1,000 for College with Summer Reading

CALVERT CITY, Ky.(10/31/14) — A Marshall County family is getting a head start on saving for college after… Read More

Law Enforcement Seeking Non-Compliant Sex Offender

OAK GROVE, Ky. (10/30/14) — Law Enforcement is seeking the location of a non-compliant sex offender. Antonio Jesus… Read More
3/13 - 16

Most Read This Week

October 29, 2014 9119

UPDATE: Medical Examiner's Official Report…

in Local (Lakes) Top News by Dennis Thomas
October 27, 2014 6233

Earlington Woman Charged With Burglary for…

in Local (Hopkins) Top News by Madisonville Police Department
October 29, 2014 4517

UPDATE: Two More Arrested for Meth at Area Motel

in Local (Hopkins) Top News by Trooper Stu Recke
October 27, 2014 4448

Baptist Health Madisonville Performs Baptist…

in Local (Hopkins) Top News by Kristy Quinn
October 29, 2014 4319

Central City Businessman Indicted by Grand Jury…

in Top News For All Sites by Charles W. Riley II, SurfKY News
October 28, 2014 4318

UPDATE: 'Runner' Ran Home; Family Happy

in Hopkins News by Lisa Crook
October 28, 2014 3657

UPDATE: Extended to Wednesday; Heaven's Gates and…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News
October 27, 2014 3455

Woman Charged for Domestic Assault with Scissors,…

in Local (Hopkins) Top News by Madisonville Police Department
October 28, 2014 3355

Hopkins County Grand Jury Indictments

in Hopkins News by Karen McKnight
October 30, 2014 3105

Three Injured When Pickup Truck Overturns

in Local (Hopkins) Top News by Rita Dukes Smith, SurfKY News Director

Stories Trending Today

October 30, 2014 3105

Three Injured When Pickup Truck Overturns

in Local (Hopkins) Top News by Rita Dukes Smith, SurfKY News Director
October 30, 2014 2660

UPDATE: Missing Elderly Couple Found

in Local (Hopkins) Top News by Chief William C. Crider
October 30, 2014 1819

Man Charged with Criminal Abuse of 2-Year-Old Girl

in Local (Hopkins) Top News by Lt. Charles Young II
October 30, 2014 1741

Man Accused of Using Bass Guitar to Strike…

in Local (Hopkins) Top News by Madisonville Police Department
October 30, 2014 1455

Madisonville Police Arrest Reports - Oct. 30, 2014

in Hopkins News by Madisonville Police Department
October 30, 2014 1317

Political Races Affecting Hopkins County

in Local (Hopkins) Top News by SurfKY News
October 30, 2014 1280

Man Charged for Criminal Trespassing at Cross…

in Local (Hopkins) Top News by Madisonville Police Department
October 30, 2014 1143

Bond, Conditions Set for Central City Man Accused…

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
October 30, 2014 1105

Golden Arches Added to City’s Eastern Skyline;…

in Local (Hopkins) Top News by Tammy Holloway, SurfKY News
October 30, 2014 1099

MCTI to Present 'Anne of Green Gables'

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

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 © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social fbsocial twsocial yt
social gpsocial flrsocial rss