a woman on the Suzie Orman show with over a million dollars in debt ($250k of that credit card debt) and only a take home of $216k a year between her and her d00d (oh and they live in southern cali).
Here was the thing about it:
She is running a deficit of $10k a month.
She refuses to get rid of the house (that they bought for $900K).
They took out $15k from retirement to pay for monthly shit.
They already went to a credit counselor and they told them the same thing (to dump the house).
I don't know about any of you but I can't fathom being in that kind of debt, I mean seriously WTF?
Another woman called in at age 49 and had just over 100k in credit card debt. The minimum payments were over $3k a month. They had 2 rental properties that were not paying for themselves (meaning that the rent collected didn't cover the mortgage on either) and they live in a rental.
Makes me feel a little better to only be in the hole $22k.
Here was the thing about it:
She is running a deficit of $10k a month.
She refuses to get rid of the house (that they bought for $900K).
They took out $15k from retirement to pay for monthly shit.
They already went to a credit counselor and they told them the same thing (to dump the house).
I don't know about any of you but I can't fathom being in that kind of debt, I mean seriously WTF?
Another woman called in at age 49 and had just over 100k in credit card debt. The minimum payments were over $3k a month. They had 2 rental properties that were not paying for themselves (meaning that the rent collected didn't cover the mortgage on either) and they live in a rental.
Makes me feel a little better to only be in the hole $22k.
