"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
0mins
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.
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.








