Steve in Georgia says his dad opened a credit card a few years ago and put Steve’s name on it to help him pay for expenses while he was in college. His dad is now delinquent on the card, and he’s receiving collections notices about it, and it’s on his credit report. Does he owe this money?

Alan in Utah makes $30,000 a year and wants to start his own business. He wants to know how to proceed with starting this business with limited resources.

Keith on Facebook asks what Dave thinks about buying a house on a land contract.

Nathan in Dallas is calling because his wife passed away suddenly in November at the age of 40 of an apparent heart attack. Nathan isn’t sure what to do with the money he has left. His daughter has a disorder that frequent checkups. Dave walks him right up the Baby Steps.

Michael in Florida asks what needs to be stated in a letter to a collection agency once they’ve agreed to a settled amount.

Joey in Nashville and his wife own two houses. The appraisal on the one they’re selling came in low, and they aren’t sure if they need to do a short sale or work with the mortgage company to sell it. Dave recommends taking the house off the market for a year and letting the value come back up.

Craig and Jennie in Financial Peace Plaza are debt-free! They traveled all the way from Alaska to celebrate after paying off $60,000 in 22 months making about $85,000 a year. They paid off their house! It’s worth about $173,000. Jennie says she always lived paycheck to paycheck, and she’s excited to have an emergency fund and no bills.

Jared in Phoenix is considering going back to school or starting a business. He’s making about $35,000 a year, and that isn’t enough to do what he’d like to do with his life. If Dave was in his shoes, what would he do?

Karen in Buffalo owes $7,000 on her student loan at 2.25%. She also owes $16,000 on a car financed at 0.9%. She has $16,000 in a savings account. She’s having difficulty understanding why she should use her savings to pay down debt rather than invest the savings to earn a higher rate of return. Dave explains.

Debbie in New York says her niece took a power of attorney in order to be in control of Debbie’s mother’s money. It’s a small amount of money, and Debbie’s niece is keeping her from her mother with a restraining order. Is there anything Debbie can do to take this power of attorney away from her niece?

Ryan in Los Angeles wants to know how to not spoil a child when you’re wealthy. Dave says you explain to them that they aren’t wealthy.

Matt in Sioux Falls went through a divorce, and his ex-wife recently had a judgment placed against her with Matt’s name on it. It was a significant amount of money to him, and now he’s considering bankruptcy. Dave thinks he needs to consult an attorney to find out if he’s even liable for the debt.

Marcus in Texas received a small inheritance when his grandfather died. He has $45,000 left out of it after using some for a down payment on a home. He isn’t sure what to do with this money now. He has no debt and is investing for retirement. Dave would pay off the house as quickly as he possibly could.

Mike in Johnson City wants to get his wife more involved in their finances. He pays all the bills and handles all the finances. She has no idea where they’re at if something happened to Mike. Dave tells Mike how he’d handle it.

Joe and Laurie in Financial Peace Plaza are debt-free! They traveled from Idaho to celebrate after they paid off $113,000 in four years making $95,000 a year. The biggest lesson to them was the power of education in addition to the budget.

Amanda in Los Angeles has a $22,000 student loan, and she’s in forbearance until next year. She has no money in retirement and no money for her son’s education. She makes $38,000 a year along with another $7,000 in child support. She is a financial ostrich and asks Dave for advice.

Mark in Atlanta is calling because his stepdaughter just graduated from college and moved back home for a few months. Mark believes they should charge her rent. His wife is concerned about how much they should charge. What would Dave recommend?

Barbara on Twitter wants to know how to use the debt snowball if her budget can’t support all of her minimum payments.

Cal on Twitter wants to know how Dave feels about mortgage accelerator programs.

Dave reads an article from CNBC about boomerang kids and rants about the lack of problems these kids need to assert their independence.

Vicky in San Antonio is debt-free with an emergency fund. She’s 55 and renting. She’s trying to decide if she should buy a home or not. She doesn’t have 20% down but does have 10% to put down on a home. Dave talks to Vicky about PMI and when to buy.

Julio in Los Angeles is unemployed and goes back to work on July 15. He has $9,200 in the bank, and he owes the IRS $2,200. Should he pay them in a lump sum now or wait?

David in Tulsa owes $7,000 on a car, and the company he’s going to work for is requiring him to buy a car for work. The company will pay the payments for this $30,000 car. He’s considering selling the car he has now. Dave says no way.

Jackie in Los Angeles co-signed a car loan for her mom. Her mom has paid the loan on time, but the rate was 7.25%. She wants to get her mom’s car refinanced, but no lender will touch it. She still owes $15,000 on the car. Jackie has $30,000 in savings. Dave recommends selling the car and buying her mom a car for $5,000.

Larry in Wisconsin says his daughter just graduated from college and landed her first job. He wants to help her with finding an apartment. What should she expect to pay for rent and utilities?

Brenda in Tulsa believes her husband may be cheating. He claims she’s trying to control him. She no longer trusts him and needs another plan. Should she continue down the road of divorce or stay in her marriage?

Jake in Missouri asks at what point a 401(k) fee is excessive.

Sharon on Facebook has a 24-year-old son who is a college graduate. Can she claim him or his tuition on her taxes?

Dave reads comments from listeners.