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Message
Snake Oil Salesman Getting Sued
Posted on 6/4/23 at 5:30 pm
Posted on 6/4/23 at 5:30 pm
Where are all the sheep defending this guy now. Sorry, I know he has some loyal followers and gotten at least 5 people into financial piece, but overall I find his advice unrealistic and painful. He also took the easy way out and filed bankruptcy before starting his show.
SCAMMER
SCAMMER
8
Posted on 6/4/23 at 5:34 pm to Im4datigers
17 people are filing damages of over $8M a piece for a timeshare exit company who didn't live up to their promises.
And you don't see this as a money-grab how?
And you don't see this as a money-grab how?
Posted on 6/4/23 at 5:39 pm to meansonny
Because he’s a fraud. Blamed a bank seeing him as a 24 year old millionaire and just cut him off calling all his loans for no reason at all. Complete horseshite excuse for filing the BK. LINK
That timeshare company is out of business as well. Red flag there. Guess they were that good.
That timeshare company is out of business as well. Red flag there. Guess they were that good.
This post was edited on 6/4/23 at 5:40 pm
Posted on 6/4/23 at 5:48 pm to Im4datigers
I didn't say he wasn't a fraud.
Having $5k to $50k out of pocket for a timeshare exit and suing for $8M isn't indemnification in my estimation. Especially when the lawsuit is against separate companies ( a radio show) that was responsible for airing the marketing.
Having $5k to $50k out of pocket for a timeshare exit and suing for $8M isn't indemnification in my estimation. Especially when the lawsuit is against separate companies ( a radio show) that was responsible for airing the marketing.
Posted on 6/4/23 at 5:53 pm to Im4datigers
I dislike Ramsey as much as the next guy, but this is a frivilous lawsuit if there ever was one.
Then EVERY single endorsement I see on tv for anything should be held liable. Crypto, vitamins, sheets, laundy detergent, sue all the endorsers
Then EVERY single endorsement I see on tv for anything should be held liable. Crypto, vitamins, sheets, laundy detergent, sue all the endorsers
Posted on 6/4/23 at 5:54 pm to Im4datigers
"Blamed a bank seeing him as a 24 year old millionaire and just cut him off calling all his loans for no reason at all."
---
Is this not plausable with call options on loans?
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Is this not plausable with call options on loans?
Posted on 6/4/23 at 6:03 pm to ItzMe1972
They had to sue for $8mm so they could get a settlement for $800k. Don’t you know how these things work hahahahah
Posted on 6/4/23 at 6:05 pm to Im4datigers
quote:
Is this not plausable with call options on loans?
I’ve been in banking 25 years, you know how many notes I’ve called for a technical default? Zero as a judge would laugh you out of the courtroom. The only way a loan is truly getting called is if it matures without refinance or somebody quits paying. Don’t call for his little sob story. He got in over his head and does nothing but blame the bank and not himself.
Posted on 6/4/23 at 6:24 pm to Im4datigers
"He got in over his head and does nothing but blame the bank and not himself."
--
That's his story, and he's sticking with it!
--
That's his story, and he's sticking with it!
Posted on 6/5/23 at 12:54 am to Im4datigers
Ok, I'll bite.
Personally,I am happy with where I sit financially and I have followed much of Dave Ramseys general framework.
I do have credit cards but pay them off each month. I know many will view me as a sheep for having paid off my house even with a low interest rate loan 5 years ago. I really don't care.
More people need structure financially than those who do not. His general structure is good and helps map out a sequence that does work and can be understood. I also think that those of us that are married AND interested in personal finance frequently need to adjust our approach and enthusiasm to finances to balance out a spouse that might not be quite so facinatged with all of the facets of saving and investing.
I just don't get the level of hate about it. If you don't like what he offers then ignore him. I am happy with where I sit financially and benefitted by many of the ideas he put forth.
I see everything from buy and hold ETF people, bitcoin afficionado's daytraders and realestate gurus.
To each their own. I like personal fianance which is why I am on this board. I have employees my age that get collection calls at work and others that are doing fine or just starting out. None of them are OT Ballers or anything but the average jane or joe will glaze over with the items covered here on this board. Many of them will glaze over with any talk about finances of any sort but the Dave Ramsey level concepts are more likely to get through to someone like that then much of what is found here.
For the record I am interested as well as entertained by all of the information found here and pretty regularly come away having learned something.
Did I somehow leave some money on the table by not following strategy X, Y, Z, etc. Probably, but I am doing just fine and not worried about it.
Personally,I am happy with where I sit financially and I have followed much of Dave Ramseys general framework.
I do have credit cards but pay them off each month. I know many will view me as a sheep for having paid off my house even with a low interest rate loan 5 years ago. I really don't care.
More people need structure financially than those who do not. His general structure is good and helps map out a sequence that does work and can be understood. I also think that those of us that are married AND interested in personal finance frequently need to adjust our approach and enthusiasm to finances to balance out a spouse that might not be quite so facinatged with all of the facets of saving and investing.
I just don't get the level of hate about it. If you don't like what he offers then ignore him. I am happy with where I sit financially and benefitted by many of the ideas he put forth.
I see everything from buy and hold ETF people, bitcoin afficionado's daytraders and realestate gurus.
To each their own. I like personal fianance which is why I am on this board. I have employees my age that get collection calls at work and others that are doing fine or just starting out. None of them are OT Ballers or anything but the average jane or joe will glaze over with the items covered here on this board. Many of them will glaze over with any talk about finances of any sort but the Dave Ramsey level concepts are more likely to get through to someone like that then much of what is found here.
For the record I am interested as well as entertained by all of the information found here and pretty regularly come away having learned something.
Did I somehow leave some money on the table by not following strategy X, Y, Z, etc. Probably, but I am doing just fine and not worried about it.
This post was edited on 6/5/23 at 12:57 am
Posted on 6/5/23 at 5:57 am to agilitydawg
quote:
Personally,I am happy with where I sit financially and I have followed much of Dave Ramseys general framework.
Good on you and this is awesome. He has done some people some good but overall he just rubs me the wrong way with his sob story about the big bad bank driving him in BK. That’s a load and he should just take some responsibility for it. Some of his stuff is pretty far out there IMO and with the timeshare thing I wonder how many other things he pushes are his own personal opinion or something he’s getting a kickback on.
He and Cardone are on my fraud radar.
Posted on 6/5/23 at 7:11 am to Im4datigers
quote:
I find his advice ... painful.
Of course, but it is effective.
Having an emergency fund, setting a budget, getting out of the practice of consumer debt and investing for retirement is, collectively, just crazy talk, right?
Posted on 6/5/23 at 7:25 am to Ace Midnight
quote:
Having an emergency fund, setting a budget, getting out of the practice of consumer debt and investing for retirement is, collectively, just crazy talk, right?
If he would just leave it at that that would be fine but he doesn't. He passes himself off as a Financial Guru on all things financial and that his word is Gospel, literally.
With that said, my dad and anyone else with common sense could be Dave when it comes to the advice mentioned above. It's the same advice I passed on to my kids.
This post was edited on 6/5/23 at 7:51 am
Posted on 6/5/23 at 8:15 am to Ace Midnight
quote:
Having an emergency fund, setting a budget, getting out of the practice of consumer debt and investing for retirement
All of those are great practices for a persons financial health but DR definitely comes across super dickish with his holier than thou approach to anyone who doesn't wanna pay cash for everything up front.
Posted on 6/5/23 at 8:30 am to Im4datigers
I actually like Ramsey. Don’t agree with a few things he touts but overall he’s trying to teach you financial discipline.
Posted on 6/5/23 at 8:55 am to Double Oh
quote:
I actually like Ramsey. Don’t agree with a few things he touts but overall he’s trying to teach you financial discipline.
This is how to view Dave.
His financial advice, and the results his "followers" have achieved, is undeniable. If you are not a religious person, much like me, then ignore that part of his advice. I agree that he comes across as a arrogant arse at times. so what. he is right way more than he is wrong.
as far as how he describes the banks calling his notes, and his bankruptcy...I have never heard him blame someone else for this. he has always said,"...it was their right to call the notes."
I do not listen to him as much as I used to (because I am in a much better place financially now), but the framework of what he teaches is what more people need to hear. It is a crime that personal finance is not taught in school.
Posted on 6/5/23 at 8:56 am to Im4datigers
You have obviously listened to him more than I have.
I thought he blamed himself for over-leveraging and living a mirage of a lifestyle (having everything and owning nothing).
I thought he blamed himself for over-leveraging and living a mirage of a lifestyle (having everything and owning nothing).
Posted on 6/5/23 at 1:59 pm to Lsut81
Brb, going sue Matt Moscona for 1 hour Air being ripoff artists
Posted on 6/5/23 at 3:24 pm to Lsut81
quote:
but this is a frivilous lawsuit if there ever was one.
Yep, easily
Posted on 6/5/23 at 4:59 pm to Im4datigers
This is certainly not baby step 1.
You'll never find financial peace at this rate.
You'll never find financial peace at this rate.
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