Dave Ramsy - What do you think of him? Do you listen to him?

[LSUTiger32]

I really enjoy Dave and his show. He has told some people in the past that BK might be their only option and a lot of times when someone calls in and they are at the point of BK he will put them on hold and take their information to help them.

I think he is just trying to give people alternatives to filing that he didn't get a chance at. I worked his plan for several months and because of him I was able to stop using my credit cards. Sadly, my real estate ventures (very similar to Dave) have forced me in another direction. Still, we will continue to work his plan because it just makes a lot of sense. His book is very good as well.

I'm a fan!

[klandsb]

I listen to Clark Howard on CNN... He also has some great ideas and seems to know alot about different financial issues ..... Try him out and see what u think if you get some time...
Also, everyones situation is different... I myself cant imagine paying for the "REST" of my life on credit card debt that I am paying 28% on . They were all closed in 09-08. The majority of my pmt goes twds interest ...Very little of my payments go twds getting the balances down... Its sooooooo frustrating...
I am considering a chapter 13 so I will be paying back but without the interest & late fees . I am not proud of my self for having to do this but I am so tired of fighting a losing battle... Probally one of the only things that makes me feel better is know I am not alone and this website gives me great information ...

[MSbklawyer]

He has told some people in the past that BK might be their only option. . .

Really? I've never heard him say it.

He's very popular here in the South. And I get so many clients who listen to him who are so hopelessly in debt so deep that it would take 80% of their bring-home pay just to make interest payments. (I'm exaggerating, of course, but not by very much.) To my mind at least, that is debt slavery. When I tell them how and what we're going to do by filing bankruptcy for them, if I hear it once, I hear it a hundred times: "But Dave Ramsey said . . ."; "But Dave Ramsey said . . ." After about the 5th time, I can usually put a stop to it by offering to refund their fees and let them work the Dave Ramsey plan. No one has ever taken me up on the offer.

Hey, I wonder if I could get to be Dave's endorsed local provider (ELP he calls it) bankruptcy attorney for Mississippi?

[sigferl]

Thanks for your post. I am glad we are having an informative discussion.

1. What does the quote about Ted Bundy mean? I am sure there are many criminals in jail that have filed BK. I think we can agree that bad people can be hard workers or those that file BK.

2. Here is your quote about how you favor small companies: Did I misinterpret something? It appears that you feel less guilty filing BK on a large company than a small company.

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Originally Posted by OhioFiler

If I were thinking of repaying a debt post-bk it would only be if the debt was owed to a local merchant or other small business who was significantly impacted by my bk. My bk will have no impact on my creditors share price and not much, if any, on their income statements and balance sheets.
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You aren't sure if you agree or disagree? That means you are a confused man.

You are wrong. Ted Bundy was a hard worker.

Absurd to state most people on this board dislike large companies. Prove it.

[sigferl]

Thanks for your post k. I am also a fan of Clark Howard.

I do not know enough about your situation, but in general I think that almost everyone can repay their debt as long as it was not caused by severe permanent medical disability.

If it took years to get in debt then it will take many more years to repay. It will not be easy but I think most people are able to do it.

Some people do not have the confidence to try to repay the debt but with some ideas and encouragement they find it easy to make lifestyle changes that enable them to become and stay debt free. There are many sucess stories where people become debt free in 5-7 years, much less then the 'rest of my life'.

I suggest listening to Clark and Dave.

Freedom is not free.

I listen to Clark Howard on CNN... He also has some great ideas and seems to know alot about different financial issues ..... Try him out and see what u think if you get some time...
Also, everyones situation is different... I myself cant imagine paying for the "REST" of my life on credit card debt that I am paying 28% on . They were all closed in 09-08. The majority of my pmt goes twds interest ...Very little of my payments go twds getting the balances down... Its sooooooo frustrating...
I am considering a chapter 13 so I will be paying back but without the interest & late fees . I am not proud of my self for having to do this but I am so tired of fighting a losing battle... Probally one of the only things that makes me feel better is know I am not alone and this website gives me great information ...

[BkinTX]

I have read a few of Dave Ramsey's books.

I think he's probably helped a lot of people, and I his philosophy is good but not unique. There are lots of financial gurus out there, and not all of them are such douche bags.

[OhioFiler]

Thanks for your post. I am glad we are having an informative discussion.

1. What does the quote about Ted Bundy mean? I am sure there are many criminals in jail that have filed BK. I think we can agree that bad people can be hard workers or those that file BK.

2. Here is your quote about how you favor small companies: Did I misinterpret something? It appears that you feel less guilty filing BK on a large company than a small company.

***************************************
Originally Posted by OhioFiler

If I were thinking of repaying a debt post-bk it would only be if the debt was owed to a local merchant or other small business who was significantly impacted by my bk. My bk will have no impact on my creditors share price and not much, if any, on their income statements and balance sheets.
*****************************************

Sigfried your response indicates you like to change the subject and not respond directly to the point made. You made the assertion that bad people file BK and hardworkers don't file BK. I proved you wrong with Ted Bundy as an example of a hardworker who was bad. Your original statement was wrong so you now qualify your concept to allow that bad people file bk and bad people can work hard. That is not what you contended.

Nowhere in the quote of mine you reposted indicates I don't like large companies. You deduced I didn't like large companies not because of what I said but rather because of your flawed biases.

At this point in time you've succeeded in derailing the thread far enough and as such I'm done with this discussion. You have a fantastic day.

[MSbklawyer]

Thanks for your post k. I am also a fan of Clark Howard.

I do not know enough about your situation, but in general I think that almost everyone can repay their debt as long as it was not caused by severe permanent medical disability.

Were it not for interest and late fees and attorney fees and the dozen other "fees" that are added onto the balances for the sole purpose of keeping people on the hook, I might agree with you. If creditors would set up a "principal only" repayment plan and give people some light at the end of the tunnel, so to speak, I think you'd see less bankruptcies and more people paying off their debt.

As it stands though, people are on a treadmill. People with middle class incomes reduce themselves to poverty-level living standards just to pay interest and fees on debts with no hope of ever reducing the principal. Debt slavery, in other words.

[sigferl]

Thanks for your post MS. I respectively disagree completely. The problem is a lifestyle problem where 'middle class' people try to live like 'upper class' people sand stretch their finances buying luxury items. There would be NO INTEREST payments if everyone lived within their means and save lots of money for a rainy day.

It is to late to save for a rainy day when it starts to rain, you start with your first paycheck and save 10-20%. If you want to have more luxury items then you have to decided between working long hours or multiple jobs.

What do you consider frugal living? What is a luxury?

Creditors have to do nothing, everyone needs to follow the contract they signed. Do not sign up for a CC if you do not like the rules.

God Bless America.

Were it not for interest and late fees and attorney fees and the dozen other "fees" that are added onto the balances for the sole purpose of keeping people on the hook, I might agree with you. If creditors would set up a "principal only" repayment plan and give people some light at the end of the tunnel, so to speak, I think you'd see less bankruptcies and more people paying off their debt.

As it stands though, people are on a treadmill. People with middle class incomes reduce themselves to poverty-level living standards just to pay interest and fees on debts with no hope of ever reducing the principal. Debt slavery, in other words.

[sigferl]

Thanks for your post OF. I would like for you to have the last word but...

I thought you brought up company size. I was just saying BK hurts all businesses equally if 10% file BK.

'bad people file BK'. I do not say that. Those who abuse BK are bad people and ruin BK for those that really deserve it. Welfare is also a wonderful program except for those that abuse it. Intentionally living a life that is a fraud by pretending to be someone you are not, does not qualify someone for BK. I do not think the BK laws were written for that reason.

It is my opinion that BK abuse is rampant and can be circumvented with common sense lifestyle changes that will improve someones life forever.

Vote Libertarian

Sigfried your response indicates you like to change the subject and not respond directly to the point made. You made the assertion that bad people file BK and hardworkers don't file BK. I proved you wrong with Ted Bundy as an example of a hardworker who was bad. Your original statement was wrong so you now qualify your concept to allow that bad people file bk and bad people can work hard. That is not what you contended.

Nowhere in the quote of mine you reposted indicates I don't like large companies. You deduced I didn't like large companies not because of what I said but rather because of your flawed biases.

At this point in time you've succeeded in derailing the thread far enough and as such I'm done with this discussion. You have a fantastic day.

[LuciluS]

Thanks for your post OF. I would like for you to have the last word but...

I thought you brought up company size. I was just saying BK hurts all businesses equally if 10% file BK.

'bad people file BK'. I do not say that. Those who abuse BK are bad people and ruin BK for those that really deserve it. Welfare is also a wonderful program except for those that abuse it. Intentionally living a life that is a fraud by pretending to be someone you are not, does not qualify someone for BK. I do not think the BK laws were written for that reason.

It is my opinion that BK abuse is rampant and can be circumvented with common sense lifestyle changes that will improve someones life forever.

Vote Libertarian

There is not a SINGLE Law, Code or Program in the United States that is not abused are those who circumvent law, code or program. Don't come on here saying BK is evil. It's even in the Bible!

What I don't understand sigferl is what you feel so inclined to post on a Bankruptcy Forum when you don't need to be. As I'm 100% disabled, I belong to a lot of forums, just not medical either. I have names for people like you who only want to post to incite the others - You are a TROLL! Go away! Go to a Forum where your posts have a valid 'Purpose' as they sure don't on this forum.

Luci

[banca rotta]

Not really a fan.
It's my understanding that he has a bk in his past but repaid his debts when he was able.

Me, I'm approaching the 4th anniversary of my bk filing and I just look at the whole thing as just business. I take all the emotion out of it and asked myself {and others} are you better off with or without this crushing debt. If the debt is overwhelming, you can only get so much releif from yard sales and 2nd jobs and a diet of beanie weenies. If you want to prosper and get on with your life then, some chapter of bk is the logical choice.
In the inteerst of full disclosure, my issues weren't medical or job loss. Just plain and simple, "champange tastes on a beer budget". But, I learned my lesson and, I've done well post bk.

I agree very much with this keep!!!

I happen to like Dave now that I have been years out of BK with the "cash is king" philosophy. I do feel the paid off home mortgage blows away any BMW you put in front of me.

But for me to spend my existance with the "beans and rice, rice and beans" metaphor at a time of unprecedented welfare checks being written to the wealthy bankers is just more then I could bare.

[banca rotta]

Thanks for your post OF. I would like for you to have the last word but...

I thought you brought up company size. I was just saying BK hurts all businesses equally if 10% file BK.

'bad people file BK'. I do not say that. Those who abuse BK are bad people and ruin BK for those that really deserve it. Welfare is also a wonderful program except for those that abuse it. Intentionally living a life that is a fraud by pretending to be someone you are not, does not qualify someone for BK. I do not think the BK laws were written for that reason.

It is my opinion that BK abuse is rampant and can be circumvented with common sense lifestyle changes that will improve someones life forever.

Vote Libertarian

The abuse is rampant on both sides.


I agree with what you say on lifestyle changes though.

[DownNotOut]

There is not a SINGLE Law, Code or Program in the United States that is not abused are those who circumvent law, code or program. Don't come on here saying BK is evil. It's even in the Bible!

What I don't understand sigferl is what you feel so inclined to post on a Bankruptcy Forum when you don't need to be. As I'm 100% disabled, I belong to a lot of forums, just not medical either. I have names for people like you who only want to post to incite the others - You are a TROLL! Go away! Go to a Forum where your posts have a valid 'Purpose' as they sure don't on this forum.

Luci

Hey Luci,

I think this person is someone who used to be on this forum a little while ago but maybe changed their log in or something. These types of posts sound very familiar to some I read when I first joined the forum, but haven't seen again until just recently. They sound very self-righteous to me.

[DownNotOut]

I've listened to Dave Ramsey for about a year now and I glean what's good and throw out what is trash. I think he's right on some things, but he's dead wrong on others. He used to say a lot that the economy was fine and there would be no recession, then lo and behold, here we are. But he's never really answered for that. He called Peter Schiff an idiot or something along those lines. I don't think so. I've heard him tell people that make 40,000 a year with over 80,000 in debt that they are not bankrupt. Huh? I've also heard him tell people that he can't really help that "maybe they are bankrupt, but not today". In other words, wait for a creditor to force you into bk by suing you. Why? Why put yourself through that? If you have all your ducks in a row, then file! He still applies a huge "stigma" to bk and he needs to get over it. So, I'm not really a fan, but I can get some good info from him.