ilmscore | Most Insane Car Debt I’ve Ever Seen | Financial Audit

Most Insane Car Debt I’ve Ever Seen | Financial Audit

Published: 2025-10-13
Status: Available | Analyzed

Predictions from this Video

Total: 3
Correct: 0
Incorrect: 0
Pending: 3
Unrated: 0
Prediction
Topic
Status
To get out of debt, it's recommended to delay school and focus on increasing income, aggressively paying down debt with a six-figure income, and then pursuing education and career changes after the debt is managed.
"Couple options. Yeah, maybe we delay school and you guys do everything in your power to keep up the six figure income, beat down this debt as quick as you can, then go to school and change careers and all that stuff. You just got to beat be beat and hustle, hustle, hustle, grind. That's what I would rather you do. And I think with that, bringing in the $10,000 net, you can pay this off in, you know, at that point, probably a few a couple years and then we go back to school and that would be fine."
Car Debt Strategy
Pending
Bankruptcy is presented as an option for debt resolution, which would also involve losing the car.
"Or we go through bankruptcy and also lose the car."
Car Debt Strategy
Pending
The advice is to prioritize working intensely to pay off debt and build a six-month emergency fund before pursuing school or career changes, and to start contributing 20% to retirement savings.
"I think we're putting off school. I think we're even putting off switching your career path. You're working your ass off. You're working more than you've ever worked in your life and you're tackling the debt. And in a few years after you've paid off all the money, have a fully funed emergency fund which is six months of your living expenses regard to live then we can go do these things and then you need to catch up in retirement because I didn't see retirement. We need to start contributing about 20%."
Financial Future Planning
Pending