Deb
Debt Consolidation
Topic
N/A
Accuracy
Recent Predictions
Incorrect: 1
Pending: 7
Unrated: 0
Prediction
Author
Predicted at
Status
Video
The guest has taken out a loan from a life insurance policy to consolidate debt, specifically credit card debt. This action, combined with other spending habits, has led to a need for extensions and a struggle to manage payments, highlighting a recurring issue with financial responsibility.
"I had to ask for an extension. No, because when I got in my car accident in August, I was out of wor..."
Sep 26, 2025
Correct
The speaker predicts that individuals who use debt consolidation loans will likely have double their debt within a year, implying it's not a sustainable solution for spending problems.
"you come back on a year later, it's going to be double the debt."
Sep 10, 2025
Incorrect
Debt consolidation will be an option to reduce monthly payments to approximately $200, allowing for a focused debt repayment strategy.
"or do a consolidation, get that payment on here and start and then you only have maybe $200 left on ..."
Sep 3, 2025
Pending
A private investor offers to consolidate debt at an 18% interest rate.
"I'll consolidate your 180% debt at 18%."
Aug 12, 2025
Pending
The guest took out a consolidation loan to simplify payments during a period of unemployment, indicating a strategy to manage multiple debt obligations.
"So, I got a consolidation loan because uh all of my minimum payments were much more than just the mi..."
Jul 25, 2025
Pending
The individual is considering another debt consolidation loan but acknowledges it hasn't worked in the past due to a recurring debt cycle.
"I'm considering doing another one. It didn't work last time. It did until you're in so much debt. Ye..."
May 21, 2025
Pending
The speaker is considering debt consolidation due to high credit card APRs but recognizes it doesn't address the underlying behavioral issues that lead to debt accumulation.
"I am considering it just because the APRs on the credit cards are so high and brutal. But again, loo..."
May 21, 2025
Pending
The speaker clarifies that the debt consolidation loan was intended to pay off credit cards and achieve debt freedom, but this goal has not been met.
"The whole idea was debt consolidation loan. Pay off the credit cards, get debtree, and that's not a ..."
May 21, 2025
Pending
The speaker has taken out multiple personal loans, including for moving expenses, consolidation, and an HVAC system, indicating a pattern of using loans to cover various financial needs.
"So, I've had consolidation loans, I've had moving loans, and I had one that was supposed to be for t..."
May 21, 2025
Pending