Their Drastic Plan to Escape $230,000 Worth of Debt

When Ron and Ingrid Sumrall married, they both had good jobs. Ron was in the Navy. Ingrid owned her own small business. Still they began their wedded lives deep in debt.

Ron remembers, “I had approximately $10,000 in debt that I owed the IRS.”

Ingrid recalls, “I had a first mortgage and I had a second mortgage. I had credit card debt of at least 30 or $40,000.”

To make matters worse, the couple spent money recklessly and never made a budget.

Ron says, “It was, ‘I want a bigger, better stereo system.  I want a better TV.  I want a better car.’”

After five years, they were in $230,000 of debt mostly on credit cards.

Ron says, “By the time we woke up the minimum payments alone on the credit cards were up to $1,800 a month.”

Ingrid adds, “The burden was just crushing.”

They sought out financial help to see how they could reduce their debt. In spite of all of their debt, they believed in giving. Ingrid was a CBN partner before she married Ron.

Ingrid says, “We continued to give to CBN against a financial advisor’s advice.”

Ron says, “It's the one thing that we spent money on that was good.”

The Sumrall’s knew something drastic had to change so they decided to put their home on the market even though the economy was in recession.

Ron shares, “We prayed about it and said, ‘We're going to put an eight-week time limit on it.’”

Before the eight weeks were up, the Sumrall’s had a cash offer for their home, one that was enough for the couple to pay off almost all of their debt. They downsized and moved into an apartment. Six months later they were completely debt free!

Ingrid remembers, “We went to the bank to make that final payment and we screamed at the top of our lungs ‘WE'RE DEBT FREE!!!’”

Ron and Ingrid started budgeting and also doubled their giving to CBN.

Ron says, “We had more money to give and it was time.  It was time to go to the next level. Helping the Home Front is a blessing on people that have already dedicated their life to us.”

Ingrid says, “The work of CBN is just critical to keeping people alive and to sharing the Gospel with people.”

Today, Ron and Ingrid are living in a new home. Ron has retired from the Navy. Both he and Ingrid have part time jobs and yet they make more money now than ever before. They say that allows them to put their money towards things that have lasting value.

Ron says, “We can't give as much as God can give to us. All he wants from us is to handle money the way he wants us to handle it, His way.  Because it works!”