Quote:
Originally Posted by Howitzer
If Dave Ramsey had not claimed bankruptcy he would still be paying those debts, his philosophy is good but I don't understand why he gets away with telling people to pay their debts when he did not.
How much was it $3,000,000?
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As previously stated, he actually has stated that he has paid back all of the money that he bankrupted years ago.
He also tells people that have filed bankruptcy that they do not need to pay back their debt, he just felt that in his situation it was necessary. I would assume it is partly a
PR move, but also I think it has something to do with his personal beliefs.
He tells people to avoid bankruptcy at all costs, not that one should never do it. Most of the people asking him for advice have loans on cars, boats, credit card debt, etc. Not too many real estate moguls that are upside down on every property they own call into his show. My point is, most of the people that ask him for advice truly aren't in a bankruptcy situation, they just don't know how to dig themselves of the hole they've charged themselves into and he helps give them the tools. Usually they are spending WAY more than they earn and if they simply cut back they would be fine. There are people out there that truly do need bankruptcy protection. However I doubt many of them have ever called Dave Ramsey on air.
Dave Ramsey's target audience are the people that make less than say, 75k and that live outside of their means. NOT people with huge net worths.