'She's In Real Trouble,' Dave Ramsey Says After 70-Year-Old Grandma Lands In Jail Over Four Credit Cards And $15K Withdrawal

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RennerSun, March 1, 2026 at 3:31 PM GMT+1 3 min readA plan to stay out of debt spiraled into handcuffs and family heartbreak.Cody told "The Ramsey Show" he believed giving his grandmother control of his checking account would help him stay focused on school and avoid money mistakes.He earns about $40,000 a year and said he carries no debt, aside from roughly $2,400 in regular monthly bills. The Wichita, Kansas, resident said the decision instead led to unpaid bills, identity theft allegations involving his sister and his grandmother's arrest."She's in real trouble," host Dave Ramsey said.Don't Miss:Instead of buying someone else's ETF, build an index around your own thesis with Public's AI tools. Get started and see if you qualify for the 1% match.Bad Ads Live Forever — See How This AI Helps Fortune 1000 Brands Avoid ThemThe setup started when Cody enrolled in school and tried to minimize debt. He said he started listening to Ramsey's program, and when his 70-year-old grandmother offered to manage his money, he agreed.He gave her his debit card and access to the checking account where his paycheck was deposited."At 25, that should be your job," Ramsey said, questioning why he needed someone else to handle his money. Cody replied that it sounded like a good deal and that he hoped she could put him on a better financial track.Weeks later, the situation escalated. Cody said his sister checked her credit report and found four credit cards had been opened in her name. The turmoil came shortly after his grandfather died by suicide about three weeks earlier.Trending: Connect With a Vetted Fiduciary Advisor—Your First Strategy Session Is ComplimentaryIn the days before his grandfather's death, Cody said his grandmother withdrew the last $15,000 from his bank account.After that, Cody reviewed his accounts and found several bills had gone unpaid for months, including utilities that had been set to auto-draft.His sister filed a police report regarding the credit cards, and authorities later arrested their grandmother."It is a federal offense now to steal an identity," Ramsey said. "Once a police report names the suspected person, law enforcement can act."Following the arrest, Ramsey urged Cody to close the checking account, open a new one and move any remaining funds without delay.See Also: Most Retirement Plans Ignore Taxes — See If Yours DoesHe told him to notify the bank, change his direct deposit immediately and contact each utility provider. 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