Navigating Car Loans and Credit Traps

This chapter explores the complexities of managing a car loan among family members, highlighting the confusion over ownership and financial responsibilities. The speakers discuss the pitfalls of using credit cards to handle debt, emphasizing the risks of falling into a cycle of financial strain and the importance of finding viable solutions.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

🔗 ⁠⁠Share the Ramsey 101 Playlist!⁠

George Kamel and Dr. John Delony answer your questions and discuss:

"Should I leave an inheritance to my children who won't speak to me?"
"My dad's car was impounded and we didn't pay the fines. Now it's being sent to collections, how do I help him in this?"
"My wife and I disagree on whether my son should help pay for his college."
"We've been struggling to survive month-to-month and we're behind on our debt. How do we get out of this?"
"Is it too late to get out of my debt consolidation program?"
"Is it a good idea to transfer my car loan balance to a balance transfer credit card?"
"I've been with my financially irresponsible boyfriend for 20 years and I'm fed up and don't know what to do."

Next Steps:

✅ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Help us make the show better by taking this short survey!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

📞 Have a question for the show? Call 888-825-5225 weekdays from 2–5 p.m. ET or ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠send us an email.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

📱 ⁠⁠⁠Download the free Ramsey Network app! ⁠⁠⁠

📈 ⁠⁠⁠⁠⁠Are you on track with the Baby Steps? Get a Free Personalized Plan⁠⁠⁠⁠⁠

📖 Have more money and less stress with George Kamel's book, Breaking Free From Broke!

👩‍❤️‍💋‍👨 ⁠⁠⁠⁠Get tickets for Money & Marriage Getaway.⁠⁠

🏠 ⁠⁠⁠⁠⁠Get organized and prepared to buy or sell a home.⁠⁠⁠

Connect with our Sponsors: