Dave Ramsey Loses Deposition Fight in Timeshare Case

Washington state sued a former announcer of Dave Ramsey’s show last year who allegedly used deceptive marketing practices to remove consumers from timeshare deals. in the matter.

Ramsey and his various companies are not named in Washington’s complaint, which was filed in February 2020 and alleged that Timeshare Exit Team, also known as Reed Hein & Associates, had used numerous related unfair or deceptive business practices. to services to “get out” of consumers. timeshare.

Ramsey started supporting Timeshare Exit Team about four years ago.

Ramsey is popular with financial advisors who deal with his organization by paying potential clients. A popular radio host who preaches the gospel of a debt-free life, Ramsey on his website promotes a variety of products from financial services, businesses, and professionals, including financial advisors.

Advisors pay the advertising costs and are part of a directory of websites, called SmartVestor Pros.

Ramsey and his lawyers argued in August that his testimony was unrelated to the current case, court documents show.

“I have had no direct insight into Reed Hein’s operations, his representations to his clients, or any other aspect of his business,” Ramsey said, according to an Aug. 27 Tennessee circuit court filing called declaration. “Again, other members of my team are responsible for the details of the trust relationship, and I act on their recommendations and advice.”

“I remember a few occasions where I observed a spike in questions or complaints about Reed Hein from our listeners,” according to Ramsey’s statement; he added that any problem was “resolved quickly”.

Washington, in turn, argued that Ramsey spoke to Reed Hein’s founder on several occasions about his services and that what was presented at those meetings was important to his trial, according to the order.

A Tennessee circuit court judge, Michael W. Binkley, ruled on September 7 in favor of Washington state, granting his motion to compel Ramsey’s deposition.

A spokesperson for Ramsey did not return messages on Monday for comment.

In May, Ramsey blamed the high cost of various lawsuits from Washington and the timeshare industry as the reason Timeshare Exit Team, also known as Reed Hein, is no longer an advertiser with his show. .

Indeed, the company has taken over 20,000 consumers from unwanted timeshare deals and, although it has been hugely successful, faces millions of dollars in legal fees and could be strapped for cash. according to Ramsey.

The timeshare exit team “had to pull our show,” Ramsey said during a bromide about the timeshare industry. “They couldn’t afford to advertise anymore.

A timeshare is a shared ownership of vacation real estate and usually sold by the week. Timeshare businesses have proliferated recently as many consumers seek to opt out of contracts, and could increase due to consumers traveling less due to Covid-19 and looking for cash.

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