Atlanta'lı bir adam kredi kartlarıyla bir iş satın aldı ve şimdi çok fazla borcu var. Ramsey ona fikrini sunar

Atlanta man bought a business on credit cards and now has too much debt. Ramsey offers him his take

Laura Grande

Wed, September 23, 2026 at 1:50 PM GMT+3 5 min read

For someone who wants to be their own boss, buying an existing business can seem like a good place to start.

You have a ready-to-go operation, customers are already there and, ideally, there's money coming in. But when you put a big chunk of that purchase on a credit card, things can get complicated quickly if the business isn't bringing in enough to cover the debt.

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That's exactly the sticky situation Manny from Atlanta found himself in when he called into The Ramsey Show.

He told Dave Ramsey that he'd used credit cards and seller financing to buy a business that isn't bringing in enough money to cover what he owes, while also carrying a mortgage on a rental property, a mortgage on his own home, and about $30,000 in other personal debt.

"The bank doesn't know it's business — it's in your name," the Ramsey said. "You have $20,000 in credit card debt because you bought a business with a credit card. There's no such thing as business debt on something like this because banks don't loan money to businesses of your size."

Manny wanted to know whether selling the rental property could help him get out from under the debt. Ramsey's answer was simple.

A sticky situation

Manny bought the business for $200,000, put some of the purchase on a credit card and financed the rest through the seller. He said he still owes about $60,000 on the seller financing.

His wife also works for the business, although Manny didn't go into detail about how it was doing. He estimated it made just under $60,000 last year.

The couple also has a rental property that brings in about $1,100 a month in cash flow, along with their home mortgage and about $30,000 in personal debt. Under those circumstances, Ramsey didn't think the rental was worth keeping.

"Yes, sell the rental property and pay off the $60,000 and pay off the $50,000 and pay off your home mortgage and you're 100% debt-free," Ramsey said.

Then he boiled it down to something Manny could feel rather than calculate.

"Can you breathe that level of peace into your lungs?" he asked. "That's why you sell the rental property."

Selling the rental would mean giving up the $1,100 a month it brings in. But Ramsey's point was that Manny could use the equity to eliminate the debts that are taking money out of the household every month.

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When a business purchase becomes personal debt

Manny used the credit card to buy the business, but that didn't make the credit-card bill the business's problem. He bought a business. He also put $20,000 of that purchase on a credit card in his own name.

If the business doesn't make enough to cover the payment, Manny still has to make it. The credit card bill doesn't wait for the business to have a better month.

That's why the purchase is putting pressure on more than just the business. Manny still has credit card debt, money he owes the seller, a rental mortgage, his home mortgage and other personal debt.

The rental property is the one piece Ramsey thinks can change that. It brings in about $1,100 a month, but selling it could give Manny a much bigger lump sum to put toward the debts.

Ramsey's answer wasn't to take out another loan or try to move the debt around. He told Manny to sell the rental property and use the money to pay off the debt, including the business debt and the mortgage on his home.

That would mean giving up the rental income, but it would also eliminate a number of monthly payments for Manny and his wife.

In Ramsey's view, that trade-off is worth it because Manny wouldn't be trying to make the business work while also finding money for all those other bills.

After that, they'd still have the business to deal with. They'd just be doing it without all those other debt payments hanging over them.

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This article originally appeared on Moneywise.com under the title: Atlanta man bought a business on credit cards and now has too much debt. Ramsey offers him his take

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