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[ 2021 ] well, this is going to sting! Inside Edition investigates Dave Ramsey's endorsement of Timeshare Exit Team

Andrearr

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He certainly does think anyone buying a timeshare is an idiot. The tone of his interactions with many callers has changed recently to a more condescending tone. I have watched a few videos from someone who is a former financial coach in Ramsey's program and he has recognized a change in how he interacts with callers. Even calls unrelated to timeshare, his approach is more talking down to the call and overall condescending. He has always had a matter of fact approach, but I think that can be done in a way to not berate the caller. It seems Suze Orman had it right and hung it up when the time was right. Ramsey keeps plugging away, for better or worse.
He's trying to go viral.
There's a formula.
being rude and mean unfortunately is becoming one of them
 

dioxide45

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He's trying to go viral.
There's a formula.
being rude and mean unfortunately is becoming one of them
I think Dave is already viral, his radio show reaches over 18 million listeners.

One thing I notice when he talks about timeshares on his YouTube channel is that he always starts out with his arms crossed. Not sure if this body language is telling of anything.
 

Andrearr

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I think Dave is already viral, his radio show reaches over 18 million listeners.

One thing I notice when he talks about timeshares on his YouTube channel is that he always starts out with his arms crossed. Not sure if this body language is telling of anything.
No doubt he's popular but viral is a different thing
 

Fried_shrimp

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I was personally fascinated at the part of the video where the TET CEO claimed that once ramsey started promoting them, their business exploded by an order of magnitude.

shame he chose profit given how his apparent poor advice reached so many.

That's his MO (profit over good advice).
 

rickandcindy23

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He still is. Had another hour rant on the radio today.
Seriously a fool for trying to defend his decision to allow that company to advertise on his show.
 

dioxide45

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Do we know if TET unloads weeks through EBay or Timeshare Nation? If EBay, what name do they sell under?
 

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none of the timeshare exit/cancellation companies im aware of use the viking ship or dump on ebay strategies. its not their goal to dispose of the timeshare via resale or transfer to a 3rd party etc.
 

escanoe

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Seriously a fool for trying to defend his decision to allow that company to advertise on his show.

Maybe a fool in appearance to those that know better. But saying he was wrong would likely 1) be worse for his reputation and 2) could present increased litigation risk. A good lawyer would probably tell him to not say anything, but a PR consultant would tell him to do what he is doing.
 

dioxide45

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none of the timeshare exit/cancellation companies im aware of use the viking ship or dump on ebay strategies. its not their goal to dispose of the timeshare via resale or transfer to a 3rd party etc.
So what do they do, try to force the developer to take them back or just let them go to foreclosure?

It seems that Sumday was part of a timeshare exit operation that was forced out of business by Diamond. They resold the timeshares.
 

LannyPC

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none of the timeshare exit/cancellation companies im aware of use the viking ship or dump on ebay strategies. its not their goal to dispose of the timeshare via resale or transfer to a 3rd party etc.

Some of them, which we call PCCs, don't they use E-Bay using the Power of Attorney method?
 

LannyPC

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So what do they do, try to force the developer to take them back or just let them go to foreclosure?

Most of them let the TSs go into foreclosure. They lead the owners to believe that they are working hard behind the scenes to get the owners out of their TSs legally and cleanly when all they really are doing is, unbeknownst to the owners, letting the TSs go into foreclosure.
 

dioxide45

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Most of them let the TSs go into foreclosure. They lead the owners to believe that they are working hard behind the scenes to get the owners out of their TSs legally and cleanly when all they really are doing is, unbeknownst to the owners, letting the TSs go into foreclosure.
That is what I thought, but I would think they would take POA on these and at least try to unload them on eBay. There are certainly some companies doing that with all the EBay inventory out there. It is also possible that they are selling them through a third party, much like how Sumday operated. Timeshare Nation seems to be getting inventory from exit companies based on their FAQ.
 

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while there certainly are still PCCs out there that utilize the dumping on ebay with a bonus payment strategy, it appears many if not most of the major players have migrated to the exit/cancellation strategy which involves using the usual methods of requesting/demanding the resort let the owner out or surrender their deed back etc. The fees charged are astronomically higher, and the overhead/work required is a mere fraction of the viking ship/pcc model.

This of course works remarkably well for those owners who own within systems that have official deedback programs. The caveat is that while the exit company knows this, they certainly dont share that information with the client! Who would pay 5k for someone to call up wyndham for them and initiate a deedback using ovations?

the true fun part comes into play when the exit/cancellation firm instructs the owner to "cease all communication" or similar verbiage with their timeshare which includes communications such as "maintenance fee bills" and "overdue notices" as well as "you are now in default" type messages!

The result of the latter is of course, the client is no longer the owner of said timeshare so VIOLA! arent you happy you used xyz cancellation company?

most folks tend to get upset when they discover they paid a fortune to be duped into simply defaulting on their payments.

the variations of these themes may vary, it really all depends on the timeshare in question the "client" calls about. Dont believe me? call any of these companies up that you come across advertisements for and claim you have a timeshare you KNOW you can surrender back or give away (or even sell) on the resale market and see where that conversation goes. holiday inn, worldmark, hilton, heck even say disney just for kicks. Id really like to know how that last one goes!
 

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Unbelievable that someone would be so stubborn to continue to endorse a company that clearly is a fraud. Talk about ego. Count me out as a fan of Dave...
 

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dioxide45

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Was Dave Ramsey getting a cut?
Not sure he was getting paid a cut from every customer signed up, but rather just being paid for his endorsement and advertising of the company on his program.
 

little1

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Was Dave Ramsey getting a cut?

I think your question is a rhetorical question. If he is not getting a cut, why would he put his reputation on it. If he was wrong, then he would have come out and stated that he was wrong about it. That's what a reputable public figure would do.

I have listened to Clark Howard for years and occasionally listened to Dave Ramsey. When Clark was wrong, he would come out and state it. I have lost all my respect for Dave Ramsey. For a right price, a (fake) Christian could be bought by the devil.
 

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Little does Ramsey know about timeshares and that some of us not only enjoy great vacations, but we rent some timeshares to pay the dues on the ones we use. Ours is not a huge business, but we do well enough to not feel like we are stupid. When Covid hit, I was wondering why I bought all of my weeks, but this year I won't have any deposits to II because everything has rented. But our daughter is just good at what she does.

I think your statement "...is not a huge business..." is poorly stated. To think of timeshare as a rental, it is s___d.

Owner's who rents out its timeshare is not a "business". If it is, then it is probably the worst "business" anyone can have. At best, it is a break-even venture with a potential for a little profit while the capital outlay (i.e., initial purchase price, maintenance fees, special assessments, etc.) make this a poor business. At the end, the business has no real value.

But considering how much time and efforts go into renting them to "profit", I think working at a minimum wage job would produce more "profit"/income.
 
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