He’s a good man.
I love Dave. HUGE fan. This is really wonderful - but I hope there were SOME strings attached, as in those who had their debt forgiven had better NOT rack up debt ever again and learn to live like no one else - so you can live like no one else!
I’d bet you a doughnut that that was part of the deal, or that these ‘forgiven’ were mired in insurmountable medical debt through no fault of their own.
Dave’s no dummy. ;)
>>Dave is walking the walk.<<
Yet he is a humble man of God. He knows uncontrolled debt is a tool of Satan and fights it accordingly.
No good deed goes unpunished.
I was so touched when I heard this on the show plus thought, what an efficient way to help people. They probably bought the debt for 8 or 10 cents on the dollar. Brilliant!
If they do this again, I hope after the rate is negotiated, they let listeners pitch in so they can buy more. I’d send some.
I was called by the Dave Ramsey organization and they offered me the opportunity to be an Ramsey approved financial planner. They would then give me the names and phone numbers of people that called into Dave looking for one. They claimed I had expressed interest in doing so at some time in the past but I sure don’t remember doing so.
It cost me over $1,000 per month. And there were at least 4 or 5 other planners calling those same people, so it was a bit of a race. I tried it for 2 months and then decided to no longer participate.
Imagine multiplying that by every town in the country. Works OK for him, I’m sure.
Beautiful. Sadly some of the debt is probably illegitimate. I’ve had collection agencies contact me about maybe ten things I have no obligation for.
Still an overall excellent move, good on them.
My family and I owe this man a mighty big THANK-YOU ourselves.
It was his teaching that completely got us to become totally debt-free! That included the mortgage as well.
So I’ll just say it right here too: Thank-You, Dave Ramsey.
That’s really nice of Ramsey. But how does that help teach people how to manage their money?
I am not talking trash. When you buy old debt, don’t you buy it at 10-20 cents on the dollar ?
I saw an old, well-beaten Toyota with this bumper sticker: “Dave Ramsey makes me drive this car” - funny as all hell.
Interesting. Such debt can usually be “bought” for pennies on the dollar. Okay, a few pennies more than the debt agencies paid to buy it for themselves, but still a small fraction of the nominal debt due.
So I wonder if Ramsey paid something like $1.5M for that $10M of debt. Still a good thing to do, but just a bit different than it initially sounds.