"Struggling Indianapolis Man Faces Harsh Reality of $36K Car Loan Debt"

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Source: Yahoo Finance
"Struggling Indianapolis Man Faces Harsh Reality of $36K Car Loan Debt"
Photo: Yahoo Finance
TL;DR Summary

A young man from Indianapolis called into The Ramsey Show seeking advice on his $70,000 debt, which includes a $36,000 car loan, a $3,700 personal loan, and a $32,000 student loan from just one semester of college. Co-hosts recommended a "scorched earth" approach to debt reduction, suggesting he work multiple jobs, including at McDonald's and as a pizza delivery driver, while selling his car and moving back in with his parents. By working 80 hours a week, he could potentially earn just shy of $50,000 and pay off his debt in a few years.

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