‘I’m not selling any of my stuff,’ husband insists as family survives on $36K – wife discovers $209K on credit cards and fears financial collapse

Anne, who called from Pittsburgh, said she discovered $209,000 in credit card debt after years of her family not having access to finances.

She told “The Ramsey Show” that the family lives on about $36,000 a year while her husband controls almost all the accounts and refuses to sell valuable assets that could reduce the debt.

The situation came up during a recent episode of the show, where Annie said the discovery made her worry about the financial collapse and the safety of her son, who has special needs.

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Annie told “The Ramsey Show” co-host Rachel Cruz That she and her husband, both self-employed and in their 50s, have been married for 19 years. She said that her name was not in the main bank account, she could not log in and she had combined business and household expenses. He added that he learned the full extent of the debt only after reviewing the files himself.

Annie said the $209,000 balance is spread over several credit cards, some linked to her husband’s electrical contracting business. She estimated the family would have about $700,000 if the house was sold, with a $21,000 car loan and a $243,000 mortgage.

co-organizer Jade Warsaw Asked about income and taxes. Annie said her husband’s business brought in about $233,000 in gross revenue last year, but after expenses and depreciation, net income dropped to about $26,000. Annie said her own home-based business brings in $10,000 or less annually, leaving the family dependent on credit cards to cover monthly costs.

Warsaw said paying off only the minimum balance creates a dangerous gap as income remains low. Annie confirmed that the cards are being used to run the household from month to month.

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Anne said attempts to discuss the budget or repayment often lead to angry reactions. She told the hosts that her husband discards the spreadsheets he creates to track balances and interest rates. He also described growing concerns about his mental health, increasing alcohol use and refusing loans in front of friends.

Warsaw said the lack of access to finance was a serious concern. She tells Annie that the money creates a paper trail that shows what is really going on in the house. Without access, Warsaw said, a partner cannot protect himself or his child.