Dave Ramsey sued for $150 million over backing of failed timeshare exit company
Financial guru Dave Ramsey, along with his company and a marketing firm, are being sued over endorsements of a failed timeshare exit company.
Seventeen former Ramsey listeners filed a class-action lawsuit in the U.S. District Court for Western Washington, ReligionNews reported. In the suit, the petitioners claim Ramsey was paid some $30 million from 2015 to 2021 to endorse the Timeshare Exit Team, part of the Washington-based Reed Hein & Associates LLC that later agreed to pay $2.61 million over claims it deceptively advertised a 100-percent money back guarantee. Customers were required to pay thousands in upfront fees but many were left with no resolution on their timeshare agreements, the settlement contended.
Timeshare Exit Team later went out of business.
The lawsuit from Ramsey listeners alleges he, Time Share Exit Team and Happy Hour Media Group, which has ties to Brandon Reed, co-founder of Timeshare Exit Team, violated the Washington Consumer Protection Act by defrauding customers and were guilty of “unjust enrichment” and conspiracy.
The lawsuit seeks damages of $150 million.