Dave Ramsey...

[ssmdem]

Dave did not use the methods to bail himself out though; he filed BK. So how does he reeeeallllly know his plan works? (He has good ideas, everyone should have an emergency savings above all.)

That's always been my biggest gripe with him. He didn't even do it the way he's preaching!! Believe me, if I could do it any other way besides filing, I'd be doing it!!

[NewPage]

That's always been my biggest gripe with him. He didn't even do it the way he's preaching!! Believe me, if I could do it any other way besides filing, I'd be doing it!!

And he's making $$ off people following his way -- in spite of not using it himself.

Maybe I will write some books telling people to ignore DR and file BK.

[Jackdog]

I've listened to him once. I agree with the emergency fund. But I don't agree with anyone that says do as I say not as I've done.
Besides I have nothing to sell to pay them off anyway. I could sell everything in my house and maybe make a 2-3k if I'm lucky that's not going to pay off the 23-24k I owe.

[Llelxon]

I always like when you are given the advice to work 2-3 "extra" jobs, but you have a spouse and kids......hmmmmm....what am I living for? I don't know about the rest of you, but I have made mistakes, but I am not going to compound them by missing out on valuable years of my family life because of it.

[needachance]

We have his books and we will follow his principals once we are through the BK process, but the advice he gives just didn't work for us...we have lived below the poverty level for YEARS trying to get out of debt, have no toys, our 2 cars are worth less than 3000 together, rent a home, have no assets and we both work the max we can....we just had some bad choices early on because of a business and we have fought for years to get out from under it, when we got the increase in payment with no progress because of increased interest rate, it was over.

But once we are "debt free" we will follow his principals.

[NewPage]

Besides I have nothing to sell to pay them off anyway. I could sell everything in my house and maybe make a 2-3k if I'm lucky that's not going to pay off the 23-24k I owe.

Word.

[NewPage]

We have his books and we will follow his principals once we are through the BK process, but the advice he gives just didn't work for us...we have lived below the poverty level for YEARS trying to get out of debt, have no toys, our 2 cars are worth less than 3000 together, rent a home, have no assets and we both work the max we can....we just had some bad choices early on because of a business and we have fought for years to get out from under it, when we got the increase in payment with no progress because of increased interest rate, it was over.

But once we are "debt free" we will follow his principals.

I do agree with this. It's just that trying to use his plan get out of debt doesn't work for everyone.

[meateater]

I found Ramsey a few years post-bankruptcy and follow many of his principles (reading his stuff made me realize I could pay off my student loans sooner rather than later, frankly wish I had started working on them immediately after bankruptcy).

I ended up in my financial mess in part due to events beyond my control and because I was naive and ignorant about how finances work. I feel good knowing that I am mow much more financially secure. But I also know there was no way I could have dug myself out of the mess just following his plan because I was simply too far in the hole.

I recommend reading ramsey stuff to anyone in bankruptcy, it might be helpful in setting yourself up for success after the fact (i anonymously surf the ramsey boards, several folks who previous filed bankruptcy participate).

[freshstartmi]

I agree with newpage and meateater - we started the Ramsey way and then found that things were just not going to work - filed Bk - are discharged now and are using the Ramsey way to MAKE SURE we don't end up in this situation again.

[momofthree]

I recommend reading ramsey stuff to anyone in bankruptcy, it might be helpful in setting yourself up for success after the fact

BIG fat ditto! His CDs (never heard his show) have really given me the mindset I need to live debt-free the rest of my life. I have no desire to get back into debt again. I own my home, I have reliable cars, I'm set. Envelope budgeting has really been life-changing for us, as silly as that sounds...

[SMinGA]

Anyone know what district he filed in? Might be interesting to look for his petition on Pacer!

[JEM]

Anyone know what district he filed in? Might be interesting to look for his petition on Pacer!

I think he's always lived in Tennessee. You could start there. LOL.

But yes, I think for "average" people that don't have a lot of assets to sell, a big home to sell etc....his ideas work better AFTER you file. We will implement some of his ideas after filing.

[SMinGA]

Did a little Google searching, seems he filed in 1986. Don't know that Pacer goes back that far, so I think its probably not worth the $ to try to find it. Oh well!

[bktmom28]

I too think that alot of these "money gurus" have some very good ideas and offer good words of advice, but I think that there needs to be some revamping of some kind in this economic time that we are in. Never before have so many homes been underwater and so many in foreclosure. The majority of the middle class is in the same boat. A year ago, I told my mom that while we were drowning in cc debt, we would never file bk and we would keep paying our house payment. FF a year later and we have filed, been discharged, and had to let our home go. This is not where we planned to be, but it is where we are and the load has been lifted and we are doing things right this time. I do not see how Dave Ramsey can tell people to work 40+ hours in their normal, and then get other jobs to pay off their debt. I understand being debt free, but at what cost. I would like to see how many people who actually do that, can work on their marriage and be there for their kids. Money is not everything and if your only option is bankruptcy, then I say go for it. Wipe the slate clean and don't make the same mistakes again. Sorry, just venting. I just have been listening to DR and we tried his methods, but we couldn't do it. We could barely pay our bills and put food on the table, much less start an emergency savings. After filing, we can start our emergency savings and put food in the cupboard.

[JEM]

I too think that alot of these "money gurus" have some very good ideas and offer good words of advice, but I think that there needs to be some revamping of some kind in this economic time that we are in. Never before have so many homes been underwater and so many in foreclosure. The majority of the middle class is in the same boat. A year ago, I told my mom that while we were drowning in cc debt, we would never file bk and we would keep paying our house payment. FF a year later and we have filed, been discharged, and had to let our home go. This is not where we planned to be, but it is where we are and the load has been lifted and we are doing things right this time. I do not see how Dave Ramsey can tell people to work 40+ hours in their normal, and then get other jobs to pay off their debt. I understand being debt free, but at what cost. I would like to see how many people who actually do that, can work on their marriage and be there for their kids. Money is not everything and if your only option is bankruptcy, then I say go for it. Wipe the slate clean and don't make the same mistakes again. Sorry, just venting. I just have been listening to DR and we tried his methods, but we couldn't do it. We could barely pay our bills and put food on the table, much less start an emergency savings. After filing, we can start our emergency savings and put food in the cupboard.

I think that is just it....he tells people that they will work that much harder to get out of debt faster because it's "unpleasant" to have to work 2 or 3 jobs etc...I guess the thinking is that you will be MORE motivated to get out of debt faster. ???

Like I mentioned for us, there is NOT way we could dig ourselves out of this hole. Even if dh could work a second job (if his job allowed it) and I found another job right now...we'd still be killing ourselves for *years*.
All of our cc's have rate jacked us to the point where so little of our payment would actually pay down the principle.

I don't know, like I said in my original post, I do listen to him occasionally, and like some of his advice, BUT I just wish when someone calls in that OBVIOUSLY would benefit from filing and getting on with their lives--he would see that as a viable option. I have NEVER NEVER heard him tell someone that filing is what's best for them.