Dave Ramsey lawsuit

[Newby]

I just put this in the life forum because he spreads a LOT of wrong info about life policies and annuities too.
[EXTERNAL LINK] - Christian radio host Dave Ramsey faces $150 million lawsuit from listeners who say they were defrauded by a timeshare exit company he promoted

 

[Al3x Lee]

I had a friend tell me they bought a time share a couple of months ago, I didn't have the heart to tell that poor soul they'd made a terrible mistake.

 

[Josh]

The timeshare industry is one of the only things I don't like about Vegas

 

[marindependent]

"Each of the 17 plaintiffs in the April lawsuit say they paid thousands for Timeshare Exit Team's services after listening to Ramsey's promotions. They say they were often advised to negotiate their own settlements with their timeshare companies, and usually found it impossible to contact Reed Hein.
Ramsey promoted Reed Hein between 2015 and 2021, and only ceased when the company stopped paying him, according to the suit"
....
"In the period Ramsey promoted Reed Hein, it's argued the company received $70 million in fees from customers referred to it by the radio host."
....
""Ramsey never returned any of the tens of millions of dollars Reed Hein and Happy Hour Media Group paid him from his own listeners' hard-earned money. Instead, Ramsey has chosen to profit from his listeners' money," lawyers say."

Call me crazy - I dont think this will work out so well for Dave Ramsey #DaveRamsey

 

[Tahoe Ray]

Those timeshare presentations are hilarious.

I got roped into one years ago and the agent was doing her whole pitch with the numbers on a piece of paper. I said, "this looks like the cost of the timeshare alone is 20%+ in interest, not counting the ongoing fees". She said, "oh, you know math" lol. The presentation was over almost immediately.

I don't throw the word "scam" around lightly but timeshares prey on people who can't process even rudimentary financial numbers.

They're a scam.

 

[Al3x Lee]

The presentation was over almost immediately.

That's surprising. Rarely do I come across a breed of salesmen so peculiar that they could only have been trained in the depths of Guantanamo Bay. Seriously, the whole experience feels less like a friendly pitch and more like an intense interrogation, where they'll stop at nothing to extract a forced confession from you.

I used to work with a guy whose old man was a timeshare salesman for Wyndham. His dad was like a hyper-intense bulldog on steroids. I swear, I'm convinced he had a secret addiction to coke. He would proudly boast about being one of the top salesmen in the company, and I believed it because he had deep pockets.

I have a gut feeling that he used to beat his wife and abuse his kids behind closed doors. Thankfully, his son found a way out of that hellish environment. He joined the Marines, probably considering Boot Camp as a luxurious getaway from the living nightmare he called his father. Can't blame him, really.

Now, whenever I come across a timeshare salesman, that man's presence immediately springs to mind. That is one group of people I have no problems being a bigger asshole than I am naturally towards

 

[Tahoe Ray]

That's surprising. Rarely do I come across a breed of salesmen so peculiar that they could only have been trained in the depths of Guantanamo Bay. Seriously, the whole experience feels less like a friendly pitch and more like an intense interrogation, where they'll stop at nothing to extract a forced confession from you.

I used to work with a guy whose old man was a timeshare salesman for Wyndham. His dad was like a hyper-intense bulldog on steroids. I swear, I'm convinced he had a secret addiction to coke. He would proudly boast about being one of the top salesmen in the company, and I believed it because he had deep pockets.

I have a gut feeling that he used to beat his wife and abuse his kids behind closed doors. Thankfully, his son found a way out of that hellish environment. He joined the Marines, probably considering Boot Camp as a luxurious getaway from the living nightmare he called his father. Can't blame him, really.

Now, whenever I come across a timeshare salesman, that man's presence immediately springs to mind. That is one group of people I have no problems being a bigger asshole than I am naturally towards

Well, that's quite a story hahaha...

 

[tikibarrister]

if you’re willing to take a bus ride out to the desert and sit through hours of intense, high-pressure sales tactics, you can get free back row tickets to the cheapest off-strip show in Vegas.

 

[Al3x Lee]

if you’re willing to take a bus ride out to the desert and sit through hours of intense, high-pressure sales tactics, you can get free back row tickets to the cheapest off-strip show in Vegas.

"As you all know, first prize is a Cadillac Eldorado. Anybody wanna see second prize? Second prize is back row tickets to the cheapest off-strip show in Vegas. Third prize is you're fired."

 

[PrivClientSG]

Not a complete surprise to me. On one hand, I always viewed him more of one of those "personality" types -- like Suze Orman -- rather than a practicing financial professional. Like others, there is this wide-casting, one-size-fits-all, advice for the masses, in his approach, also similar to Suze Orman. Ramsey's real business model is selling books, courses, other material, etc., first, and being a practicing financial professional second, if at all. When the former becomes your business model, you are not a practicing financial professional in my eyes.

I don't mind that the guy has a bankruptcy on his record, or that he started his "financial" career in the world of religion. At the same time there has long been complaints, controversies, etc., about COVID and his handling of the pandemic with regards to his company, workplace, employees, seminars, etc. In addition, there's also been complaints and controversies about him and his company's policies regarding on marriage, sex, homosexuality, LGBT, etc.

I've heard him speak and like some other "personalities" he was very quick to throw out generic numbers and claims, and what I considered to be very inflated ROR's for the "stock market," using load mutual funds. I heard him refer to 12% numerous times in several different broadcasts, seminars, etc.

While this is different -- very often where there is smoke, there is fire -- how tied together these two parties are still remains to be seen.