Tony and Betsy in Financial Peace Plaza from Indiana are debt-free! They paid off $100,000 in 21 months making $125,000 a year. They’ve only been married since November and had been working the plan separately until then.

Barbara in New York City is 71 and has a $1,500 income. She has a mortgage and doesn’t know how to keep living on what she’s making. Barbara used to be a medical transcriptionist but can’t find work doing that now. Dave thinks Barbara has to get her income up and offers some ideas.

Dave discusses the Facebook IPO and whether or not you should invest in it.

Dee in Birmingham says her husband was the co-buyer of a home with their son. The house was foreclosed on before Dee and her husband received a letter of notification. They borrowed money from a 401(k) to save the house because it was being sold tomorrow. Her son is moving out, and they’re selling the house. Was that a wise move?

Lori in Indiana and her husband are up to their eyeballs in debt. The debt started racking up when their son was seriously injured several years ago. They have two whole life insurance policies on their sons. The cash value is $21,000. Should they sell those policies to help cover some of their debt?

Beverly in Los Angeles is calling because her husband is trying to convince her they need to buy a house soon if they can obtain a payment close to what they pay in rent. They do have debt, and Beverly wants to know what she can tell him to stop this train of thought. Dave warns Beverly that a house won’t be a blessing while they have $50,000 in debt.

Al in Michigan wants to know what legal action can be taken against a collector when the collector causes damage to the family. His father-in-law took a collection call for his daughter, and his mother-in-law overheard the conversation. After the conversation, he had a heart attack and died. Dave isn’t sure there would be legal recourse for this.

Valerie in Miami says her sister passed away in 2007. Valerie was her sole heir and left her a house with a reverse mortgage along with some cash. Valerie isn’t sure if she should sell the house or rent it out until the market recovers. Dave recommends selling it since it’s a home she wouldn’t normally buy.

Alice in New York says her mom and stepdad are living off of her stepdad’s trust fund. They’re expecting a large inheritance but haven’t received it yet. They own nothing but also owe nothing. Her sister wants to buy a home for them. Dave has a different idea to get this situation resolved.

Daneal and Peter in Financial Peace Plaza from Cincinnati are debt-free! They paid off $41,000 plus another $3,500 in medical bills in three years making $18,000 a year up to about $52,000. The majority of it was paid off in the last 18 months.

Kelly in Kansas City owes $55,000 on her house and $9,000 on a credit card. Her father passed away earlier this year, and the estate is about to be settled. She was also laid off earlier this month. Her money is sitting in an account, and she isn’t sure what to do with it. Dave asks Kelly some questions to point her in the right direction.

Ashley in Charleston is 22 and needs a life change. She would like to go to school but would be the first in her family to go to school. She plans to move out of her parents’ house with her long-term boyfriend and makes $33,000 a year. Her boss doesn’t want to work around her schedule either. Dave thinks Ashley’s stress is coming from trying to do too much at once.

Joe in Iowa is involved in a family business that his father started. The business has operated without debt, but their competitors are using debt to grow their business. As a result, Joe’s business is feeling pressure from others in the company to start using debt as a tool. What’s the best way to combat this pressure?

Dave reads comments from listeners.

Tom in Los Angeles has $190,000 in student loan debt. He’s working as a county prosecutor making $80,000 a year. His wife is a personal trainer, but their second baby is due soon with her income disappearing too. They have a $2,300 car loan and rent at $1,580 a month. How can they begin to dig their way out of this mess?

Robin in Connecticut has $250,000. She plans to move in with her daughter and son-in-law. She can invest $250,000 to help her pay the rent or she can pay $100,000 to her daughter and son-in-law and then pay something to them monthly. Dave thinks she should invest the money and pay them a monthly rent.

Rachel in Mississippi is trying to settle with a collector, but they refuse to send her a letter. Should she move forward with the settlement anyway?

Andrew from My Total Money Makeover just found out he got a job in Omaha. He’ll have to move from St. Louis, and he and his wife own a home there. Is it possible to sell a home remotely from Omaha? Dave says yes.

Rachel in Chicago says her father is constantly pressuring her to buy a house or a condo. He says she’s making too much money to not be doing anything with it. Rachel is getting out of debt and isn’t ready to buy a home. Dave tells Rachel her father has boundary issues.

Nick in Wisconsin is paying off debt. He’s been talking to collectors, and they want $2,400 and are threatening to sue him for a $1,400 debt. He hasn’t paid on the debt for about a year and a half. Dave doesn’t think he’s had enough conversations with them yet.

Bryan and Kathryn in Financial Peace Plaza from Cincinnati are debt-free! They paid off $30,000 in three years making $22,000 a year to $54,000 a year. Most of the debt was from credit cards, and Kathryn thinks the hardest part was Bryan working six days a week.

Stephanie in Nashville and her husband just found out a close friend has been admitted to hospice. He’s not expected to make it through the week, and Stephanie and her husband are the only “family” he has. He owns a truck that still has payments but nothing else. How do they handle his affairs once he passes?

Dan in Iowa says his daughter was born with a serious heart condition in December 2010. After she was born, their church set up an account for donations. Dan and his wife have been stingy with the account and haven’t touched the money. Their daughter passed away last month with $10,000 left in the account. What should they do with this money now?