A retired couple, once debt-free, now struggles with $46,000 in debt, opened 13 credit cards, and took out 3 personal loans. Despite a $29,000 debt relief loan approval, their $3,100 monthly income isn’t enough. Financial experts advised against more debt, urging them to increase income and budget strictly.

Dave Ramsey warned the couple against taking the loan, emphasizing the need to change their mindset and lifestyle to pay off the $46,000 debt. Selling their mobile home and land was suggested, but without a mindset change, they risk repeating the same mistakes. Tough choices lie ahead, with the challenge to pay off the debt through hard work.

Read more at Yahoo Finance: A Retired Couple Followed Dave Ramsey’s Advice, But Went From Being Debt-Free To Opening 13 Credit Cards And Taking Out Three Personal Loans