Episode Overview

Title: I Can Barely Keep My Head Above Water
Podcast: The Ramsey Show Highlights
Date: December 6, 2025
Main Theme:
This episode centers on a deeply personal and challenging financial situation faced by "Hannah" (caller), a newly divorced mother of two struggling with overwhelming debt left by her ex-husband. Hosts Jade Warshaw and Rachel Cruze offer practical advice, emotional support, and strategies for tackling debts, focusing on prioritizing survival, legal advocacy, and regaining financial control.

Key Discussion Points & Insights

1. Caller’s Background & Financial Crisis (00:06–01:51)

• Hannah’s Situation:

  • Recently divorced, two small children, sole caregiver.
  • Ex-husband (his fourth marriage) left her with significant debt after a history of doing the same to previous partners.
  • Current debts:
    • $40,000 business loans (from ex-husband’s failed business)
    • $40,000 student loans (her own)
    • $60,000 car loan (lavish lifestyle encouraged by ex)
    • Credit card debt ($7,000)
    • IRS tax debt ($4,000)
  • Working two full-time nursing jobs, single income. Living in a one-bedroom apartment with her children.
  • Tried and failed to qualify for Chapter 7 bankruptcy; only qualified for Chapter 13 with a high payment plan.
  • Overwhelmed and unsure if she should just “quit and give everything back.”

  Notable Quote:

  "I can barely keep my head above water ... I have probably $200,000 in debt and I don't know if I need to just quit my job and give everything back or what I do." — Hannah (01:51)

2. Divorce Decree & Debt Responsibility (02:00–04:51)

• Legal Complications:

  • Business loan—though awarded to the ex-husband in court, remains in her name as he refuses to pay or refinance.
  • For the car loan: if sold, would bring in $33,000 against a $60,000 debt.
  • Student loans are entirely her own, post-divorce.
  • Legal recourse to enforce payment on ex-husband involves additional legal fees ($10,000+), which is prohibitive.
  • Frustration with current legal representation’s effectiveness and cost.

  Notable Exchange:

  "The court can force it, though, is what Jade’s saying." — Rachel Cruze (03:45)
  "I guess I haven't done that. This is so new. I've been in a panic." — Hannah (03:49)

• Legal Advice:

  • Seek a new, proactive attorney focused on enforcing the court decree.
  • Focus short-term energy on debts she truly owns (student loans, car, credit card)—the business loan situation may take longer to resolve legally.

3. Budgeting & Survival Priorities (05:01–06:42)

• Hosts’ Immediate Steps:
  • Recognize that Hannah’s credit is already damaged.
    "Find a little bit of freedom in that, honestly, that it can't get ... worse." — Jade Warshaw (05:36)
  • Reorganize budgeting using the “Four Walls” principle:
    • Rent/housing
    • Transportation
    • Utilities
    • Food
    • (Fifth wall: childcare, necessary for a working mom)
  • Once essentials are covered, any surplus can be directed at debts, starting with IRS/tax obligations (urgent).

4. Car Loan Dilemma & Solutions (06:50–08:38)

• Car Payment Issue:

  • $1,300/month for a rapidly depreciating vehicle (Jeep Wagoneer).
  • Options discussed:
    • Ideally, sell/trade car to reduce the debt and monthly payment.
    • Problem: current loan balance far exceeds car’s value.
    • With ruined credit, refinancing is challenging.
    • Explore local credit unions who may be willing to work with her if she brings documentation and explains the situation.
    • Sister has offered to co-sign or put a car in her name (limit: $30,000).

  Notable Exchange:

  "Can I do that, or am I going to ... pay for that in the future?" — Hannah, considering giving car back to bank (07:41)
  "No, because ... they're going to auction it, and whatever the difference is ... you're still going to have to pay." — Jade Warshaw (08:03)

• Hosts’ Advice:

  • Exhaust all options to minimize the remaining debt on the car, even if it means owing less than the original $60,000.
  • Selling for $33,000 and finding a cheap car (with the help of her sister/co-signer) is better than being stuck with all $60,000 in debt.

5. Emotional Support & Next Steps (08:38–09:32)

• Personal Encouragement:

  • Recognize and praise Hannah’s resilience and work ethic.
  • Offer practical support: connect her with a Ramsey-certified financial counselor for ongoing, personalized guidance at no cost.

  Memorable Quote:

  "You're doing incredible. You're an incredible mom. You're an incredible fighter ... and we're here for you, Hannah." — Rachel Cruze (09:28)

Memorable Quotes & Timestamps

• Hannah:

  "I can barely keep my head above water." (01:25)
  "He has wrapped us into an insane amount of debt. ... I knew divorcing him that he would leave me with everything and not help with the children. That's exactly what he did." (00:16–00:43)

• Jade Warshaw:

  "Find a little bit of freedom in that, honestly, that it can't get ... worse." (05:36)
  "Let's reorganize your budget and make it to where we're accounting for four walls first..." (05:49)

• Rachel Cruze:

  "The court can force it, though..." (03:45)
  "You're doing incredible. You're an incredible mom. You're an incredible fighter ... and we're here for you, Hannah." (09:28)

Important Segment Timestamps

| Segment | Timestamps (MM:SS) | |-------------------------------------------|-----------------------------| | Hannah’s background & crisis | 00:06–01:51 | | Breakdown of debts & legal issues | 02:00–04:51 | | Budgeting strategy & priorities | 05:01–06:42 | | Detailed car loan discussion & solutions | 06:50–08:38 | | Emotional encouragement & final advice | 08:38–09:32 |

Summary & Takeaways

This episode offers an unvarnished look at the perilous aftermath of financial entanglement in a toxic relationship, especially when legal, emotional, and financial responsibilities collide. Hannah’s story spotlights the overwhelming duress of single motherhood post-divorce, compounded by unmanageable debt. The Ramsey Show co-hosts respond with empathy, strategic guidance, and concrete first steps—centered on courtroom advocacy, ruthless budgeting, and realistic financial triage. The episode ends with a strong note of encouragement and a real offer for hands-on assistance, emphasizing that even in dire circumstances, taking small, focused actions can illuminate a path forward.