"Chicago Man Faces Over $1 Million Debt After Attempting Private Lending: Reactions from 'Ramsey Show' Hosts"
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 20 2025
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Should l Buy ?
Source: Yahoo Finance
Caller’s Financial Situation: A caller named Robert revealed to the hosts of "The Ramsey Show" that he and his wife are over $1 million in debt, primarily due to personal loans he made to others, which have not been repaid. His financial struggles are compounded by a significant mortgage and other loans, making it difficult for them to manage their debt despite a combined income of $10,000 per month.
Advice from Hosts: The hosts advised Robert to make drastic lifestyle changes, including selling their house and car, upgrading his wife's job to full-time, and exploring side hustles to increase income. They emphasized the importance of financial coaching and budgeting tools to help them pay down their debt effectively.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
