Dave Ramsey lawsuit

[Allen Trent]

I wonder if they pay him too?

yes, he also gets paid by the endorsed local providers he has for local real estate & PC agency transactions. I believe in Real Estate, they get % of the sale. In PC, because of laws, I think it is more of a fixed cost to be the endorsed local provider, etc

Would not be shocked to find out he is part owner of Zander agency for Life & DI or for the mortgage companies they promote, I believe it was Churchill mortgage in the past

not sure if true but I was told by a Real Estate ELP that he supposedly pays $3,000 to get started, $350 each month & 30% of the commission for being an ELP on Ramsey website, etc

 

[Allen Trent]

If this guy was paying him $450,000 a month and no one has ever heard of him, how much do you think Zander pays him monthly who he has made a very well known brand?

I think the difference is Zander is likely making relatively small 1x commissions on term sales that his reps also get paid to process. I dont think the per transaction is nearly as high as the sounds of this timeshare exit fee gouging. I

 

[Allen Trent]

Dave Ramsey charges for his advertising, his endorsements and his lead generation. Not for his advice. He needs no licenses.

he may need a real estate license as I believe his fees to be an ELP for real estate include getting a cut of the actual commission of the sale. Insurance & securities dont allow that without licenses, but I think Real Estate & maybe mortgages would & I am sure Timeshares allow anything

 

[titeye]

Comments in the video Travis Price posted suggest that the contracts are not cancellable. couldn't the companies sue?

Yeah, I saw that too. Neither my sister nor mother said anything to me about receiving any kind of threats such as that. They both stopped paying more than 10 years ago now, at least.
I think .courts would side with the consumer, although I'm no lawyer. I don't believe a court of law would rule in favor of allowing them to resell your timeshare and, at the same time, force you to continue paying on something you would no longer have an interest in.

 

[Family Man]

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

Long story short: we listened to his advice about paying off debt and were debt free much faster for it back when we were newlyweds (more than two decades ago).
At any rate, if this lawsuit wins, I sure hope it means I can sue major news networks/internet browsers for any advertising with which I find a business marketing flaw. That'll give me something to look into instead of working.

 

[Sean Alott]

I am absolutely NOT a fan of Ramsey & his views on life insurance products but bringing a lawsuit against him for the lack of service received by a third-party, paid advertiser is quite silly at best ...that's like suing facebook marketplace because you bought a car listed on the platform & it turned out to be a lemon!

If he's got stake in the company, that's obviously different!

Nothing to see here

 

[Newby]

Long story short: we listened to his advice about paying off debt and were debt free much faster for it back when we were newlyweds (more than two decades ago).
At any rate, if this lawsuit wins, I sure hope it means I can sue major news networks/internet browsers for any advertising with which I find a business marketing flaw. That'll give me something to look into instead of working.

I think he did more than run commercials for them. I think he talked them up and promoted them on his show. Then when there were hundreds of complaints flooding in that the company was not helping people he ignored the complaints.

 

[Travis Price]

Comments in the video Travis Price posted suggest that the contracts are not cancellable. couldn't the companies sue?

Yes. In short. If it's worth it. The language of the contract is what matters.

What one person does, successfully or not, should never be the blueprint of what to expect.

 

[Travis Price]

I am absolutely NOT a fan of Ramsey & his views on life insurance products but bringing a lawsuit against him for the lack of service received by a third-party, paid advertiser is quite silly at best ...that's like suing facebook marketplace because you bought a car listed on the platform & it turned out to be a lemon!

If he's got stake in the company, that's obviously different!

Nothing to see here

That's not true. If Dave Ramesy goes into partnership, leveraging his audience to get advertising dollars.. you can be held liable.

This is especially true if you are notified of a scam, but then continue to accept money.

It's 100% nothing like seeing a car on Facebook that turns out to be a lemon. Facebook is making no material statements out the vehicle. They are showing the person advertising the vehicle and the information they have given.

The FTC has made it very clear that endorsers can be held liable for false statements given during an endorsement.

 

[tikibarrister]

Radio legend Bruce Williams of TalkNet fame taught me everything I needed to know about timeshares when I listened to him in the 80s.