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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Standing guard ... City gears up for hearings on future growth ... Medford School District on the hunt for teachers ... Standing guard ... City gears up for hearings on future growth ... Medford School District on the hunt for teachers ... Dave Ramsey: Keep flood insurance? Comment By Dave Ramsey More Content Now MailTribune.com By Dave Ramsey More Content Now Posted Feb. 4, 2015 at 12:01 AM By Dave Ramsey More Content Now Posted Feb. 4, 2015 at 12:01 AM » Social News Dear Dave, I’m debt-free except for my home, and I’ll have that paid off in about 12 months. I currently make $60,000 a year and live in an area of Florida that is designated a flood plain, because a river that empties into Tampa Bay runs behind my home. Currently, I’m paying $1,070 a month for flood insurance. My house is worth $325,000, and water has only come up into the yard twice in over 20 years. Since I’m doing pretty well financially, do you think I need to keep my flood insurance policy? Trudy Dear Trudy, From what you’ve told me about the history of your property, it sounds like your biggest concern might be if a hurricane caused a backwash in your area. Insurance is already pretty tough in Florida when it comes to those kinds of things, but you don’t want to run the risk of your house getting mowed down and losing everything. If I were in your shoes, I think I’d like the protection of flood insurance. What you’re paying for the policy is such a small percentage of your world, compared to the value of your home and your income. Keep the coverage, Trudy! — Dave Do the right thing, but don’t let them bully you Dear Dave, I have a student loan in default that is now being handled by a collections agency. They want me to pay the entire $20,000 now, or consolidate it with $16,000 in collection fees added. Are these my only options? Rebecca Dear Rebecca, There’s no way I’d consolidate and pay $16,000 in collection fees. Right now, they’re trying to bully you. They may eventually garnish your paychecks, but I think you can still work out something with these guys. You’ll have to repay the loan, and probably the interest and some of the late charges, but $16,000 is a bunch of crap. Don’t run out and get another loan to pay it, but don’t let yourself be blackmailed, either. You’ve made a mess by ignoring this for so long, so now you’ll have to save every penny you can and start sending them substantial amounts of money each month. Trust me, they’ll take your payments and cash the checks. Hopefully, you can settle on a reasonable repayment structure and have this thing killed off in a couple of years. — Dave Dave Ramsey is America’s trusted voice on money and business. He has authored five New York Times best-selling books: “Financial Peace,” “More Than Enough,” “The Total Money Makeover,” “EntreLeadership” and “Smart Money Smart Kids.” “The Dave Ramsey Show” is heard by more than 8.5 million listeners each week on more than 550 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com. By Dave Ramsey More Content Now MailTribune.com By Dave Ramsey More Content Now Posted Feb. 4, 2015 at 12:01 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501