Watch Get Out of Debt (Part 2): Talking with Dave Ramsey

Get Out of Debt - Part 1

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Video Extras:

Extended Interview with Dave Ramsey

Reporter Debrief: Melissa Swan on “Get Out of Debt”

Printable Budgets and Tips:

Your path to a Debt-Free Holiday Season | Holiday Gift, Budget Worksheet

FAQ’s for getting out of debt | Fair Debt Collection Practices Act

(WHAS11) - The phones were ringing, almost constantly, when we opened the WHAS11 Get Out of Debt phone bank Wednesday evening and many of the people were calling about credit card debt.       

There is no one size fits all answer for getting out of debt and in her effort to help viewers find answers so they can get out of debt,  WHAS11’s Melissa Swan traveled to Tennessee to get Dave Ramsey’s take on our national debt dilemma.

It's the scissor wielding Dave Ramsey. He's the get out of debt guru, heard on hundreds of radio stations coast to coast. He's seen on the New York Times bestseller list and he hosts his own financial advice show on a national cable network.  

At his Financial Peace Headquarters in Nashville, Tennessee his hugely profitable empire now employees 225 people.

But for all he knows, all the experience he has, he tells Melissa that his power ends, where yours begins.

At the top of Dave’s list for getting out of debt, Ramsey agrees with the other counselors Melissa talked to, you have to get a budget.

At first Christian Church in Louisville, 40 people have paid $93 for 13 weeks of Ramsey’s financial Peace University.

Local financial advisor Mike Lorenzen coordinates the classes. Via video, Dave Ramsey tells them what to do after they've set up their budget.

John and Veronica Berkenbosch took the Ramsey course because they had gotten off their course. John is a doctor and veronica is studying to be a veterinarian's assistant. They have three kids, they have it all.

In fact, they decided they had too much.

So the whole family went on the Ramsey plan. They write up a budget at the beginning of the month and don't stray from Ramsey’s way.

For all you devoted Dave Ramsey fans, you know Melissa left out the very first baby step to financial peace.

Ramsey says put $1,000 into an emergency fund and don't use it to pay bills. 

He says it's an amazing stress reducer when the furnace or the car breaks down.

Here's another get out of debt tip: the experts we brought in to the station say, don't fill out the credit card applications to get 10-15% off, it takes points off your credit score.

You've opened up a new line of credit, even if you don't use the card.

More Resources to help you Get Out of Debt:

Louisville Asset Building Coalition

Dave Ramsey's website

Consumer Credit Counseling

Money Management International

A+ Credit

Louisville Legal Aid Society

Better Business Bureau

Debtors Anonymous