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Dave Ramsey Is Taking On …Timeshare Companies?

Dave Ramsey Is Taking On …Timeshare Companies?

Christian financial mastermind and radio host Dave Ramsey has staked a personal vendetta against timeshares. 

In a recent episode of his talk show, Ramsey ranted about the “scummy” timeshare industry and anyone “stupid” enough to buy into timeshares, which allow individuals to purchase several weeks worth of residence annually in a home, often in vacation hotspots. Timeshares have a tendency to come with unexpected fees and high interest rates. 

Timeshare companies have faced backlash within recent years, and many are facing numerous lawsuits from companies helping to free timeshare owners from their contracts. Tensions have escalated particularly between Diamond Resorts, one of the largest timeshare companies in the U.S., and Timeshare Exit Team, a company Ramsey endorses that works to get consumers out of their timeshares.

Earlier this year Diamond Resorts sued Timeshare Exit Team. And last year, the Washington State attorney general sued Timeshare Exit Team over alleged consumer fraud.

The mounting pressure against Timeshare Exit Team led Ramsey to take things a step further. During his talk show, Ramsey promised to fight back against Diamond Resorts and other timeshare companies, saying he was broadcasting to an audience from a paid-off building worth hundreds of millions of dollars and is “neck-deep in cash.” 

“You have done poked the wrong bear,” he said. “You done pissed off the wrong hillbilly.”

Despite the warning, a spokesperson for Diamond Resorts stated it would continue to challenge timeshare exit companies. “To protect our members and owners, Diamond Resorts remains committed to exposing deceptive timeshare exit companies and challenging nefarious operations in court,” the company said in a statement. 

According to Religion News, some former followers of Ramsey’s principles are distraught by Ramsey’s feud. After taking his advice and recommendation to use Timeshare Exit Team, they say they have yet to experience the financial freedom Ramsey endorsed.

Ramsey and his practices have received backlash within the last year, following some controversy around his company’s handling of the COVID-19 pandemic. 

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