What would you do if a sudden windfall landed in your lap… but you were also drowning in debt? That’s exactly the dilemma Dave Ramsey tackled on The Ramsey Show when a 21-year-old caller named Andrew rang in with a story the financial guru described as “the wildest thing I’ve ever heard (1).”
Andrew had just received a US$250,000 (C$345,000) insurance settlement — the result of being shot by a teenager who used a 3D-printed gun. He also carried US$70,000 (C$96,700) in debt. His plan for dealing with it? Wait it out.
“I want to play the waiting game. I just want to let it fall off on its own,” Andrew told Ramsey and cohost Dr. John Deloney.
Andrew was betting on the statute of…