6 thoughts on “Dave Ramsey’s Debt Myths – Should You Pull Money Out of Your House to Pay Credit Card Debt?

  1. Let me get this straight so if you default on your credit cards they sue you and it becomes secured they put a lien on your house enforce the judgement games rigged

  2. So basically what you’re saying is it’s OK to gamble with credit card debt because they can’t come after you, but people shouldn’t take out money to invest or pay off debt because it will make them more “responsible” and obligated to pay back their loan. Of course you’re only saying this because you’re a bankruptcy attorney and this advice is good for people who end up filing for bankruptcy

  3. So, the alternative to taking equity from your home to pay off debt (at a lower interest rate) is to just pay the credit cards off (at a higher rate)???
    Did you even listen to this before you posted this video? Also, you neglected to mention the tax benefits my friend. Makes no sense to me

  4. Found the information quite helpful. One question I was hoping someone to answer. Would a refinance on a rental property to pay off student loans be wise? The idea is that the tenants are the ones paying the mortgage and you could use the equity built up by your tenants to pay off student loans….or should you just work continuously to pay those off, while eventually owning the rental outright?

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