Dave Ramsey and Timeshare Exit Team

[T_R_Oglodyte]

While I agree with his view on Diamond, Ramsey doubles down on his endoresement of Timeshare Exit Team. If you watch at 4:33, he also mentions Wyndham is close to bankruptcy. Is he talking about the timeshare company that was spunoff or the hotel company?

Why is he being so specific about Diamond? Could it be because Diamond has successfully sued TET? Makes me think that TET may be "encouraging" him to specifically mention Diamond. A threat to withdraw advertising if he doesn't help them?

 

[Shankilicious]

And, no kids, I presume?

Two kids.

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[turkel]

Many people have the ability to live below their means, most do not. ANY financial education is better than none in my book.

 

[dioxide45]

Why is he being so specific about Diamond? Could it be because Diamond has successfully sued TET? Makes me think that TET may be "encouraging" him to specifically mention Diamond. A threat to withdraw advertising if he doesn't help them?

It very well could be an orchestrated plug to also attack Diamond. The problem I have with Ramsey touting TET is the fact that there are far better and cheaper methods to do the same thing that TET does for you. In fact, it seems based on the lawsuites that all TET does is tell you to stop paying then lets it go to foreclosure. Done, you are out of your timeshare. Well, one can do that for free. If Ramsey was concerned with his listeners instead of the $$$ from TET, that is the advice he would give them. There are far cheaper alternatives to "timeshare exit" that people can do on their own.

 

[T_R_Oglodyte]

It very well could be an orchestrated plug to also attack Diamond. The problem I have with Ramsey touting TET is the fact that there are far better and cheaper methods to do the same thing that TET does for you. In fact, it seems based on the lawsuites that all TET does is tell you to stop paying then lets it go to foreclosure. Done, you are out of your timeshare. Well, one can do that for free. If Ramsey was concerned with his listeners instead of the $$$ from TET, that is the advice he would give them. There are far cheaper alternatives to "timeshare exit" that people can do on their own.

Almost precisely my point. It doesn't make sense for him to be so enthusiastic about TET except for them being an advertiser.

 

[CalGalTraveler]

IMO...Dave Ramsey probably has no idea about how to get out of a timeshare or that these scammers provide a service you can get for free.

There is a lot of conventional wisdom given by these mass talk show financial gurus because it is too complicated to recommend otherwise. Similar to flipping homes, timeshares are complicated and it takes skill to make them work financially. It's easier to say "stay away" because the talk show host won't get sued if it turns out badly for the uneducated buyer who heeded his advice. TUGgers and house flippers take the time to find the gems in the junk.

 

[chapjim]

Two kids.

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Then you have indeed done well.

 

[Shankilicious]

Then you have indeed done well.

Thank you. Not every method works for everyone. We have a 20 page spreadsheet for all our budgeting. I couldn't do it by myself. My wife is a CPA by training.

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[chapjim]

Thank you. Not every method works for everyone. We have a 20 page spreadsheet for all our budgeting. I couldn't do it by myself. My wife is a CPA by training.

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If I had to maintain a 20 page spreadsheet, I wouldn't need a budget. I wouldn't have time to spend anything,

 

[Shankilicious]

She finds legit joy in balancing numbers like I find join in shooting things and drinking whiskey. (Not at the same time)

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[decadude]

He endorses them because they give him ad revenue. Dave Ramsey does not know timesharing at the level of veteran members of this site know timesharing/timeshares. ALL Timeshare Exit companies not just this company are leveraging the fact they understand timeshares better than you. Most timeshare companies do have a deed back option if the timeshare is paid off; so, exit companies know this charge you a fee several times hiring than the cost of deed back or even if the deed back is free they won't tell you. I have done deedback on three timeshares all free there had to be a zero balance. The process did suck the first time it was a nightmare but the system got better all with the same company. The developer benefits attached to those timeshare were very exclusive the developer altered the benefit and kept raising the dues to get people off the old deeds. They wanted my deeds back so it worked out for everyone.

If you owe a balance on a timeshare then you need to keep filing complaints and keep calling your OAG office for your state stay persistent. Pretty much every timeshare salesman commits fraud at some level when trying to facilitate a sale of a timeshare. Deceptive trade laws act, timeshare acts, and I can keep going. Essentially they defraud people out of money and OAG reps know this and that is a tax dollar avenue to play.

In simple Dave Ramsey says all timeshares are bad because of stories he has heard about developer direct buys. My small timeshare portfolio I only own 3 one is a small $150 a year 25 point DVC deed that DVC does not sell any longer and I got lucky enough to be grandfathered in on non developer direct buys on benefits. I own grandview in las vegas 122,000 annual point deed and a week 52 vacation village at parkway that is a power TPU trader with RCI. I know what I paid resell and I know what I own is a solid small little timeshare portfolio. My goal years from now is to continue to accrue TPUs and be able to live like a nomad traveling when I retire.

 

[LannyPC]

IMO...Dave Ramsey probably has no idea about how to get out of a timeshare or that these scammers provide a service you can get for free.

That's my feeling too. What are the chances that, if a TS owner called the Ramsey show asking how to get rid of a TS, Ramsey would respond, "Try asking the resort to take it back. Many timeshare companies and resorts have programs in place that let you surrender ownership for just the closing costs."?

 

[TUGBrian]

That's my feeling too. What are the chances that, if a TS owner called the Ramsey show asking how to get rid of a TS, Ramsey would respond, "Try asking the resort to take it back. Many timeshare companies and resorts have programs in place that let you surrender ownership for just the closing costs."?

not going to get many advertising dollars for saying that.