Caller skipped car payments to gamble, now $19,000 in debt with repossession.

A caller on The Ramsey Show shared a cautionary tale about gambling and debt. By skipping car payments to gamble, she ended up with a repossession and $19,000 debt. Despite selling the car for $3,500, she’s still responsible for the balance. She’s in Baby Step 1 with $1,000 saved and tackling her gambling addiction.

The caller found herself in additional confusion receiving toll road bills for the sold vehicle. She reached out to toll road, confirming the sale but never received advance notice. With a monthly income of $4,000 and only $1,300 in rent, she plans to save for a lump-sum settlement to clear the debt.

Kamel advised negotiating a payoff amount like $7,000 and getting written confirmation. He cautioned against giving access to her checking account, recommending cashier’s checks or money orders for payments. Warshaw stressed the importance of ensuring the debt is marked as paid in full in writing to avoid future issues.

Despite the financial loss, Kamel and Warshaw highlighted the emotional toll of car repossession. They emphasized the need to address the root gambling problem. The caller, now free of dependent financial responsibilities, is determined to overcome her debt and move forward financially.

Read more at Yahoo Finance: A Dave Ramsey Caller Skipped Her Car Payments To Gamble And Double The Money. The Plan Failed, And Now She’s $19,000 In Debt With No Car