Question about Dave Ramsey Debt Free Scream

[TexasDisneyGirl]

So one of my friends posted that her parents were going to be on the Dave Ramsey show doing their debt-free scream. She gave us a link and told us when to tune in. And I listened to them and their story and they paid off over $100k of debt in 4 years. Then Dave asked them what was in that number, and they said student loans, credit card debt, and I think car loans (they gave the amount for each and it added up to the whole number). Then they did the debt-free scream.

So I'm curious....does this mean they don't have a mortgage? (They actually live in our neighborhood and I know they own a home). Can you do the Dave Ramsey debt-free scream on his show if you still have a mortgage? Or is it screaming debt-free for things other than the mortgage? I guess I always assumed it meant all debt? Does anyone know?

Thanks!

[bjl584]

When people talk about debt, they are usually talking about consumer debt (credit cards, car loans, etc.)

People claim (although I don't agree with it) that they are debt free except for their mortgage.

It's debt free with an asterisk.

[disneysteve]

For the purposes of Dave Ramsey's show, debt-free can mean either counting or not counting the mortgage.

[TexasDisneyGirl]

Thank you. I just wondered how that worked with Dave Ramsey since I know he's a big proponent of paying off the mortgage.

[Wino]

Dave allows both screams. Heck, I think you should be allowed to scream every time you pay off any debt. After all, you've probably already screamed at the telephone at least once while dealing with a credit card company.

[Tree0164]

It is a people completing Step 2 which is get out of debt except for the mortgage and maybe student loans. He does debt free Fridays which is pretty cool. Most people take about 1-2 years.

He did have a show over the summer where he had people that paid off their mortgage as well. on average those folks took 7 to 8 years

[DebtFree&Broke]

His debt-free scream is after you have paid off all credit cards, car loans, student loans, etc. It's true you don't have to have your mortgage paid off to do a debt-free scream on his show.

[ActYourWage]

One can actually do a debt-free scream Monday-Thursday, but they only allow 1 per hour during those days as Fridays are their scream debt-free days. There is a trend that people are starting and that is driving to his studio (below Nashville,TN) to write on their "debt-free" wall and then screaming "I'm debt-free" from the lobby area on the radio show.