Avoid This HUGE Money Trap After the Pandemic is Over!

from the headquarters of Ramsey solutions broadcasting from the dollar car rental studios it's the Dave Ramsey show where dead is dumb cash is king in the paid off Home Mortgage has taken the place of the BMW as the status symbol of choice I'm Dave Ramsey your host we're glad you are with us today for the last 30 years and I from the time I turned on this microphone until now we have had one goal and that is to help you have a better life you do that with knowledge knowledge is power you do that when you transform your life your actions your habits your behaviors as a part of that power that power gives you the ability to transform your life and God working with you blessing you does that it's absolutely amazing and so one of the things that keeps people from winning in an area of their life like money is bad products financial things that we do that fall under the heading of stupid that are set up to benefit the company selling them and rip you off we talk about them all the time we tell you not to buy whole life life insurance we tell you not to lease a car we tell you not to use credit cards for God's sakes stay off the payday lender lot and you don't go in there and pay 800 percent interest don't buy a stupid timeshare we tell you these kinds of things all the time there are a few of these spaces where we tell you the product is not only bad but the vast majority of the people in the industry are bad these are bad people selling bad products in bad ways and that makes it like a triple lose you got to stay away from this but large majority the payday lenders fall in that category large majority of credit card collectors fall in that category and the large majority of timeshares fall in that case Gouri bad people selling a bad product in a scummy scuzzy illegal lying fraudulent manner on a regular basis as standard practice of business we run into it all the time we run into the horror stories we get to hear from you how you got screwed now granted you walked in there you got the free vacation in quotes which turns out to be a high-pressure sales event that's two and a half hours long and has promised to be 30 minutes and there is no vacation you spend all your time down trying to get this person off of you that is lying cheating stealing conniving anything they can do to get you to leave by one of their stupid but Tom shares before you go and their every word out of their mouth is a lie they're scum it's unbelievable I can't of all the industries now I've had a few car dealers tell people Dave Ramsey leased a car which is obviously a lie I've had a few people say Dave Ramsey as a credit card which is obviously a lie but I hear every week that sometimes chair salesman is telling somebody the Dave Ramsey has a timeshare I've never had a timeshare I have done almost every stupid horrible thing you can do with money but timeshare is not on the list let me just tell you there is not a condition the only people selling timeshares are the super high-end ones that you might want to think about doing but even then I'm not gonna recommend them for instance Disney the Disney timeshares are a whole different class of timeshare but most of these things are just bottom feeder you would not let any of these employees you would not let the owners of these companies in your home and yet you buy a week of vacation from them and it is awful if you have had eight words to devote this hour to starting the process of uncovering all of the misbehavior in the timeshare industry it is unbelievable when you get down in it how filthy it is how filthy these people are it's evil if you have been lied to scammed misled have been pressured been beat up whatever by the time sure call me I want to talk to you this hour I want to hear real stories from real people I got plenty of them but if you want to call right now the phone numbers triple eight eight two five five two two five three of the biggest misbehaviors three of the biggest scum buggers in the market our Diamond Resorts International they're the king of bad Westgate and Berkeley group which goes under vacation village resorts now just go and Google it takes ten minutes just Google Diamond Resorts International or Westgate or Berkeley group and you will see what I'm talking about Google Wyndham you'll see what I'm talking about you just ask TripAdvisor you you look at Yelp you look at the Better Business Bureau you just find straight not one or two complaints pages and pages and pages and pages and pages of misbehavior by these people absolutely unbelievable they don't transfer that date they don't let you use the other property like they said they don't give you the tickets they said they try to throw you out after they promise you a free vacation like they said you know it's unbelievable and they get sued all the time Westgate loses a suit for high-pressure tactics and Tennessee here's an article timeshare buyers Nathan and Patricia Overton alleged that they were promised many things when buying a timeshare unit in Gatlinburg that later proved to be untrue when you promise something in business that proved to be untrue by the way that's called fraud for example they allege they were promised a specific room during the Christmas season but were later told it wasn't possible rooms were only assigned a few days before the visit Westgate lost an appeal of the case drawing critical opinion from the appellate judge who wore him out engaged in in the judge said Westgate engaged in intentional and fraudulent conduct and will he violated both the Tennessee timeshare act and the Tennessee consumer protection act he wrote in his opinion and this kid this article goes on and on and on and on and on Westgate says this is an isolated incident if it was an isolated incident there wouldn't be pages and pages and pages and pages of people saying the same things about Westgate about Diamond Resorts International about Berkley group all the time over and over and over and over and they're unbelievable here's some of the are here some of the postings this is about Diamond Resorts International Lisa says they are terrible the last five years it's become horrible increased HOA prices through the roof I've been trying for six months to get a reservation I have annual points it's become sickening they're out of control owners owners must pay or we get foreclosed on our credit yet our resort time is never available this is fraud I'm looking to get out of this thing I think I need an attorney or a class-action lawsuit cliff says to put it bluntly diamond resort international sales people are scum of the earth and will tell you anything to get you to buy then every time you visit a resort they want you to suffer through another arm-twisting confusing sales presentation and you'll learn everything they told you the last time was BS and they proceeded to feed you new lies I'd advise staying well clear of them hang around here and find out about buying good properties at resale rather than retail this goes on and on and on I can read these four days but I'm going to talk to you two about experiences you've had with the timeshare process the filthy dirty apartment that you're supposed to be getting the rent the how bad a shape it's in the way that people lie they lie did I mention they lie this is the Dave Ramsey show we're talking timeshare exits this hour we're talking timeshare problems this hour we're talking about the timeshare industry and what a ripoff it is this hour and want to hear from some of the stories I've heard them but just talk to some of you the phone numbers triple eight eight two five five two two five let's go to Shirley in Wisconsin I surely welcome to the Dave Ramsey chef hi Dave how you doing better than I deserve what's up about seven years ago my husband and I went down to Florida we love to go down there and see the water and the wintertime and get out of the woods constant cold we went to a timeshare because we run go to Disney and the tickets are so expensive we thought we'd save money go listen to the timeshare we're gonna say no just got free stuff and leave so our two hours turned into five hours you're in their sales room for five hours yes sir why did you not read for people we're to Minnesota or I just live in Minnesota you may say Minnesota nice oh you're nice okay that's why okay yeah I'm nice okay but anyway so we thought we were pretty good we said no we got out of there with our three tickets we were so proud because we spent night because all we could think about was gee you know it's right outside of Disney and everybody's gonna want to go there and they showed us the unit that would be like purchasing that would be our place to stay it looks beautiful it was all updated we had kids that are older or empty nesters getting ready to be empty nesters at that time we thought oh they're gonna have to get married we can use it for their honeymoon well as it turns out we went up the next morning and practically begged them if we could still have a second chance at that same time share because of that low $300 a year maintenance fee so now we've got $4,000 still left on it it was seven years ago good while we would be Financial Peace University we started it the end of January so we know how stupid we are we are going through we will be debt free including paying this off in 2023 will pay off one hundred and thirty five thousand dollars and just have the house left and that will be paid two years after that Wow well good for you on that one so they kept you in there five hours and it worked because you went back the next day yep yep and they're better so denies normal so the $300 on maintenance fee how'd that work out that has not changed but we have a feeling that once the unit is once our loan is paid off that it will start going up yeah they get you either with the loan of the maintenance fee they keep getting the same amount right that's what that's what we keep hearing on them because there's just scummy so that who owns this particular timeshare what company is that it's through Silver Lake Resort through RCIA okay all right and where you promised that you could change it for a different one if you wanted to go to a different location yep yep yeah we're trying to do that yes they showed us the map we've gone back there three or four times to them while we could we go to Florida every year we can't find any place to use their timeshare for that so we've gifted it to some people we did have a daughter get married we sent it away it was great so you have been able to get some other locations yep but it's very worn there's been you know the places that we do get our rundown they're not exactly what they showed us we have actually stayed at the resort too but we don't get to places like they showed us we're back by Animal Kingdom where they had braces that go to a pool o'clock in the morning so it's just a bad deal the maintenance is that the thing has gone down it's deteriorated and have you complained about that yep we were just there in February and said well we just want to give it to back we know we got 4,000 we won't pay the 4000 just take it back we just want to be done with it because we don't want any date on our credit or you know I know we're not going to use credit but yeah but they wouldn't do that of course they said they only take them back at certain times and this is no yeah not when you're here yeah that makes sense yeah so with everything you've spent on it with everything you've spent on it over the years you could have gone to nice places couldn't you oh sure yep absolutely yeah so it doesn't end up being a money-saving event and end up being a money pit and you stay in places that are pits yep exactly we can never see where we want to stay like we like to stay on the beaches you know the snow they never have anything I've had a ongoing search for eight months which they promised I would always be able to find something if I would just use that I've tried that for two years and they have not they paid you a dollar an hour for the time you spent searching you would have made your money back yep for sure Wow hey thanks for calling I'm sorry you got ripped off you're not the only one Jeff is in Idaho hi Jeff what's up hey I just wanted to show you my story with town in 2018 we went down to San Diego our friend owned a timeshare down there and he said people can just pay the cash price which was a couple hundred dollars to be able to stay three or four ninth account remember exact amount of nights but we checked in and of course they put this self pressure on us too said he come and take the tour and after the tour you'll get a free night stay with any of our resort's going forward so I went back into the car and told my wife about it and she was kind of perturbed about it I said okay we'll give it a try out they said it would be a minimum of two hours I think it was about three three and a half good lord and the biggest thing yeah the biggest thing we ran into though is what we're singing no to this lady we have more cute and she started telling us how that of her parents we were because we weren't providing vacations for our kids no little eNOS yes I'm serious like my wife has been kissed and I I was like we're done we don't need any more in this so focused probably 30 40 minutes to get out of there I telling them no we're done we're gonna move on I think we're gonna get the free vacation but we're so mad that was the beginning of our trip our three or four days and it made our trip terrible it was like kind of annoying and then like you said you the resort was like a very low-end motel like that's what we felt like it was a new fancy paid a couple hundred dollars a night for it no boy that's a couple hundred for the entire thing you know I suggesting that I think it just drives you remember the codeine IME there and I think world marks is that son right who world world words mark young smart would be oh my god be yeah alright yeah yeah well the terrible experts my wife is just felt and she was just so mad and just trying to sell out of the parents we were and and like you said they start getting dirty with yeah yeah how old were you like I said that's a couple years ago 36 okay alright because I I just man I think if that ever happen to you again there's no way you stay in there three hours right correct can't think of anything we buy anywhere that takes three hours to buy it you know I don't spend three hours buying a car you know it's just it's funny how they just it that is the manipulation of this is amazing hey thanks for sharing that they told you you were bad parents if you don't buy now that's a technique that works pissed the customer off see I'm telling you these people are scum scum scum Regina's in Kentucky hi Regina tell us about it hi this was years ago but my husband signed us up for a one of those tours and Myrtle Beach you know and we had free like two three nights of hotel stay and then they offered like tickets to to some of the attractions and free meal as a restaurant and all that so we go and we'll check in and seven of course you got to use a credit card to check in they've been they were gonna pay it you know if you went to the I'm sure to her so we go and at the time we had three kids and I left him with my friend she had kids well she had to go like three to go get her to go get her kids and I believe if I'm remembering right the tour was like at like news come come my 2:30 we're still sitting in that big room that is they drugged ascended through the sales pitch and I had tried it like a billion times they just say no no we're not doing this and she kept saying well soldier has crying you know come out and find this freeze that she can go and I was like I gotta go so I went I got the kids and came back with the kids and he was glad my husband was still sitting in that room and they won't let us go I mean they just would not let us go that's exactly how they work it Wow I would pinch the kids and get them crying oh the scummy timeshare industry we're talking about it today this is the Dave Ramsey show we're talking the scummy timeshare industry and the horrible products that they push and pressure and control you into the number of times that they are sued there is of course like there is in any scummy industry a full spectrum of bad actors from extremely bad actors all the way up to not so bad actors probably the best people in the business as you might not be surprised as Disney and they have legitimate products still not a fan of the product but at least you can sell it and they don't lie and aren't sued for fraud and all this other stuff like people like Diamond Resorts International is or Westgate is or the people at vacation village resorts the berkeley group does the number of complaints when you google these company names on the internet is mind-blowing I've never seen thing like an industry that is hated as bad across the board by their customers so we're taking your timeshare nightmare calls your experience in buying or trying to use a timeshare and over the years I've done this periodically I've never done a full hour on it but I know a bunch of you are getting ready to think about vacations as you come out of your quarantine and I don't want you to fall into one of these things the last thing you want to do is sign up for the timeshare vacation and get stuck in a room for five hours norm is in Michigan norm to me your timeshare story yeah so days thank you for taking my call truly truly an honor to speak to you sir Triana you too sir yes I'm known from Michigan not fear a nice Minnesota people i'm michigan me so yeah we went to Las Vegas about 15 years ago in my wife and I just to get away for a time and we said I will take this free tour well exactly the free tour turned into four hours and the last two hours we were pressured in the office and I told the guy no no no up to five times and I got up and walked away twice only to become only to come back and my ended up is almost an argument and I was just right between him and I because I wanted to leave my wife understand so it's not very good and and I would just say that you know they're trying to earn a job trying to do their job but but on the other side you have to realize that you are setting yourself up for a bad future in your homee life and so people think about that I know on the flip side of that babe my brother and sister-in-law they have a timeshare and we go with them and we have enjoyed all the digits within our state you feel but we pay them for their use of their points yeah we take a vacation hope do you remember the company that theirs is worth it's a good one there I think with a Marriott yeah yeah I'm Marriott timeshares is there right up there with Disney on the better that they keep their properties up and it's a much better much better situation I've actually stayed in some Marriott resorts just as a customer but not as a timeshare user and it's the same situation I swim the same units and we do a lot of business with Marriott so very cool do you remember the company where you almost got in a fight there's a bunch of them in Vegas yeah yeah but we were there for vacation but they once again truly an honor to speak with you sir and and I followed you not you offensive as I've stated I paid for my own college I went to college in my face with all my stones and when I when I got done with college I was 24 and I made a list yes like what you said I made a list and while I did this before I even knew about you and I paid off smallest to largest my car loan might buy my books like tuition my blah blah blah and truly an honor days you too sir thank you thank you for sharing your story norm appreciate you calling and congratulations very good stuff all right Terry is on the line in South Carolina Tara tell us your time sure nightmare hey babe me and my family went to Myrtle Beach South Carolina one year just like two years ago and that I Hotel it was people in our lobby and saying what the free tickets to the car show of course one of three TVs with a lot of other folks they was giving away I think instead okay well you have to you know go to the pool or whatever and the next morning we meant we had free transfers and everything it was like five hours Neels children and we was ready to go we had to go but they kept on pressing about you know you can go to vacation by the timeshare you go for free and everything it was like like 20,000 or 30,000 dollars so what did the ticket what the tickets that they gave you what were the tickets they gave you worth what did you get for trading five hours of your life it was like $200 Wow it was like $200 for five hours yeah here's a sign in it and well we can't go home and look over it is it's just until at one time so we had tried it and so we got back to the hotel I started researching and it was like full of an idea and it was 48 hours before I could counsel so the rest of my vacation it was miserable because I had to go through the library in a library card write out the calculation because we was there for they'll be there for a week but we only had 48 hours to counsel so I spent the rest of my days and days trying to count them this timeshare but in this way it's like I read it before I went home or I would have been sucked in the timeshare Wow oh you got out of it you cancelled it within the 48 hours effectively and they didn't come after you after that right I got to the hotel I went and researched it and it was more than a good idea yeah the best part of all the bad reports that I'm talking about that are all over the internet on all these companies yeah you remember the company name Wyndham yeah okay they're one of the big ones yeah okay yeah and they said we had I was concerned about the maintenance when I was there and they was like oh you could just buy groceries with this car and then you get points of you know I'll stick a fee but then after I researched it you have to my least five thousand dollars worth of groceries so much outfit even though fee so low like yeah absolutely well I'm glad you got out of it five hours five hours Diamond Resorts had a class action filed on them to consumers filed a proposed class action lawsuit against Diamond Resorts International Club in its land its collection arm and Experian information solutions over alleged in accuracies on the credit report stemming from terminated timeshare accounts according the lawsuit out of California Central District the plaintiffs obtained a so-called membership with the Diamond Resorts International to which they were told they would acquire Tom share points to be redeemed in exchange for the right to use accommodations at certain resorts familiar familiar Lurie I can't even say charged that Diamond Resorts International no stranger to class-action litigation used deceptive sales practices and made numerous oral misrepresentations and false statements during their sales presentations aimed to induce consumers into contracting with the company the suit points out that the plaintiffs went so far as to file a proposed class action against Diamond Resorts International over this alleged conduct following the lawsuit Diamond Resorts International agreed to release the plaintiffs from their contracts pursuant to a settlement which waived and cancelled any and all remaining balances so they had to sue them to get out of it after they were lied to over and over and over again and that's one of the biggest players in the market Diamond Resorts and really this this this regular you just hear it over and over and over we were trapped they wouldn't let us go unbelievable if you've got a timeshare story you can call me crippled eight eight two five five two two five this is the Dave Ramsey show our Scripture of the day romans 14:9 so then let us pursue what makes for peace and for mutual up building Arnold Palmer said always make a total effort even when the odds are against you Jose says first I'll stay away from this company they are sharks and will lie and say anything to get you to buy their timeshare we recently went to a westgate Resorts tour to get a discount on Disney tickets as usual we went and they to the tour and listen to their pitch the sales guy I dealt with promised just a two-bedroom condo anywhere we wanted for two hundred and forty seven dollars or five hundred dollars depending on how busy was they promised us it would not exceed five hundred dollars and it was 100% for sure 247 or five hundred two months in this has been a complete lie our timeshare was about ten thousand plus the annual fee and all the resort's we have looked into are $1200 plus for a two-bedroom and we cannot choose our dates they give you the dates of their choice they lie westgate Resorts there you go Robbie is with us Robbie's in New Jersey hey Robbie how are you I'm great Dave thank you so much for taking my call sure they're trying to get with you for two years I'm glad you did tell me your timeshare nightmare so it was with Wyndham and I was stupid more than what I bought a Wyndham in San Antonio Texas in 2010 fast forward to 2017 I've used it down it in in Maryland and the guide told me that his mother had cancer you know and and I'm married to a boxing coach Olympic boxing coach though he did all this flattery thing and we ended up walking away from $19,000 all the way up to $70,000 seventy seven thousand dollars and he told us that we had to go from all access to a deed we would never be turned down so move forward to 2018 we got turned down for my birthday to go to National Harbor Maryland we went to the Poconos it was a wrap and I called down and they moved us across the landing on stairs that we had never we told me couldn't do stairs because we're older and then they refused to give us the key so we couldn't leave we were trapped there on my birthday all day long finally I got a chance to get out and then they didn't bother us for a while because apparently they change president transformer to end of December of 2018 we were in Virginia young and they told we had to go so we went the young man ended up threatening us and told us that we had to go back to all accent I told him you know utilizing was you told me that all that I would be able to do this I'd be able to do that I would never be turn down and he said well if you don't drive this for additional thirty thousand dollars will come after you will come up in your family and I said oh really and something inside of me snapped and I walked out I went and stopped payment I wrote them a letter I went to the credit reporting agencies and said this is fraud they have lied to me and so they let me out of the contract in November of 2019 and I tried timeshare exiting I was not impressed with a guy and at the time it was our last debt and I when we first thought women you own joint with a deal you did you walked away from seventy two thousand dollars by what I walked away had gotten down to fifty four thousand so you still owed them the money yeah your finance what was the interest rate you finance to that it was at sixteen point nine nine percent good gosh but then you finally talk to my completely other deal by threatening to sue them oh my goodness a $72,000 timeshare Wow Robbie thanks for the call all right let's go to chasity chastity in Alabama chastity told me your timeshare story hi babe my husband and I were staying with someone from Windham down in Florida and we got down there and they wanted us to go to one of those presentations to get free Disney tickets but kept us for six hours we ended up buying what they call a discovery package we got three trips for $3,000 to discover their program the people wanted to sign up for a lifetime and every time we went on the trip we had to go to one of those presentations which was you know at least two hours Wow at what point did you say I don't ever want to go to a timeshare presentation again really bad then you signed up to discover more of them right discovery packages because once you discover it why would you want to sign it for the long haul yeah well that's true it's like a bad sample it's like hey try a sample of our cookie it's bad whoo I don't want your cookies okay yeah you have to go they paid you you paid them $3,000 to get more presentations right Wow now what was the condition what was the condition of the properties like well that you actually got to stay in versus the ones they showed you in the presentation the one that my friend gave us the one and that closest to do mean that one was like very very nice the rest of them were okay not as nice as that one but you cannot even get into the one Odie's like he's one of the top tier people and he could only get one day there Wow I don't even want to think about what it takes to be one of their top tier people that just made my skin crawl oh my gosh hey thanks for sharing the story we appreciate it open phones at triple eight eight two five five two two five so what's the moral of the story the more the story is there's 18 million of you listening and I'm trying to tell you as you come out of quarantine don't go for a 6-hour pressure cooker thing presentation on a timeshare in order to get a free night your life is worth more than that don't sell your time that cheap you've heard the saying you don't get something for nothing you don't get something for nothing something for nothing you don't if it sounds too good to be true it is oh you just have to go to a little sales president presentation or a little tour and you get a couple of free nights meanwhile you end up staying in a fleabag situation dealing with scum of the earth sales people who are not even real sales people who call you a bad parent you hear that story that was wild you know threaten you the number of elderly people in these complaints that we find on the Internet are unbelievable and this industry is just full of scum and I got to tell you man I mean the Marriott Group and the Disney Group - I can I can sell you those products are reasonable I would not buy them because I don't believe in time shares period I think they're a bad investment I think it's a bad use of your money but it's really bad when you deal with people like this West Gate this Berkeley group that has these vacation village resorts all over the place and certainly the king of scum which is Dimond international I mean these guys of a guess is where you're gonna find a lot of these guys Gatlinburg and Myrtle Beach is where you're gonna find a lot of these guys and so you just need to be you know don't just don't go into those situations and what lesson ask yourself what's wrong with me that would allow me to sit there for six hours because I got to tell you I'd be there for 30 minutes and I'm gone but that's me and I'm you know I'm not easily intimidated obviously so I don't understand that they prey on people being nice they prey on people with manners they prey they take advantage of you being trying to be kind and so since that doesn't work being kind is not an option with these people they apparently only understand one thing and that's a punch in the nose so we'll give them one like for the last hour telling 18 million people you suck there we go there's a punch in the nose as you suck your industry sucks you're scummy people it's a scummy business it's a ripoff people stay away from them please stay away from them hope I wasn't unclear I would never want to be unclear that puts this our the Dave Ramsey show in the books we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace Christ Jesus [Music]

Channel: The Ramsey Show - Highlights

Views: 1,589,164

Rating: 4.8301969 out of 5

Keywords: the dave ramsey show, budget money debt cash, real estate, insurance, how to make money, dave ramsey, save, credit card, compound interest, buying house, buy, snowball

Id: OTGEnmkH_5M

Length: 36min 48sec (2208 seconds)

Published: Wed Apr 22 2020