The Case Against Dave Ramsey


These are example videos.

The firm has access to multiple additional videos in which Dave Ramsey endorses Reed Hein — including endorsements that aired after the State of Washington filed its consumer-protection complaint against Reed Hein.

“Some Radio Hosts Will Say Just About Anything … “

Dave Ramsey promises his followers that he personally takes his endorsement “so very seriously,” and that he endorses only companies that he would recommend to his best friend.

“Trust Me — It’s Timeshare Exit Team.”

Dave Ramsey warns against “scammers” who employ “illegitimate tactics” that leave consumers financially responsible for timeshare ownership. Ramsey promises that his followers can trust Timeshare Exit Team.

Faux Interview No. 1

Faux Interview No. 2a

Faux Interview No. 2b

Dave Ramsey conducts “interviews” of Brandon Reed that are indistinguishable from Ramsey’s program. Ramsey says that Reed Hein is the only timeshare-exit company he trusts to help his followers. Reed claims that his company offers a “one-hundred-percent money-back guarantee.”

Spontaneous Endorsement No. 1

Spontaneous Endorsement No. 2

Spontaneous Endorsement No. 3

During his program, Dave Ramsey recommends Timeshare Exit Team to his followers. In each case, the recommendation appears to be a spontaneous response to a follower’s question. The recommendation is indistinguishable from financial advice.

The firm can access years of non-public transcripts of the Ramsey program. The firm can therefore secure multiple examples of seemingly spontaneous endorsements.

Ramsey Takes the Credit

Ramsey Takes the Credit (Full Clip)

Dave Ramsey says that Reed Hein’s business has “skyrocketed” because of his endorsement. He says that Reed Hein uses a “legal process” that relies on a “team of lawyers.”

Web Endorsements

Ramsey endorsed Reed Hein on his website until March 2021.

Dave Recommends. Ramsey described Reed Hein as an “ethical company.”

Embedded Endorsements. Ramsey’s website included endorsements of Reed Hein that were embedded in articles purporting to offer financial advice. Additional examples of such embedded endorsements are available at this link, and at this link, and at this link. There are more such examples.

Consumers could request information about Reed Hein directly from Ramsey’s website.

Reed Hein’s website also featured Ramsey prominently.

Depositions & Witness Statements

In addition to the depositions and witness statements described below, the firm has secured a statement from the former Ramsey employee who was responsible for logging complaints that Ramsey received about Reed Hein. She logged thousands of complaints during the years that she worked for Ramsey. She maintained the complaints on an excel spreadsheet. When her employment with Ramsey ended, she signed a non-disclosure agreement.

Witness Catherine Cerbone worked as Reed Hein’s de facto manager from late 2019 through 2021. She claims that Reed Hein spent approximately thirty million dollars advertising with Ramsey. The firm has an audio recording of her witness statement.

Brandon Reed Deposition (Orange Lake – Dec. 13, 2018). At Page 133, Reed claims that Reed Hein’s business went “through the roof” because of Ramsey’s endorsement. At Page 148, Reed says that the only way out of a timeshare is to pay the remaining balance. At Page 152, Reed acknowledges having spent $70 million in unearned customer funds. At Page 255, Reed testifies that Reed Hein spent approximately $10 million per year on advertising.

Thomas Parenteau Deposition (Orange Lake – Sept. 24, 2018). Thomas Parenteau was Reed Hein’s de facto manager from 2018 through 2019. At Pages 29–30, Parenteau describes the process by which Reed Hein secured Dave Ramsey’s endorsement. At Pages 116–17, Parenteau confesses that Reed Hein cannot force a timeshare developer to “take back” a timeshare.

Scott Loughran Deposition (Wyndham March 26, 2021). Scott Loughran was Reed Hein’s chief advertising executive until late 2019. At Pages 52–57, he describes Reed Hein’s relationship with Ramsey. He says that Ramsey had final approval over all endorsement scripts. At Pages 96–100, he testifies that Reed Hein refuses to advise customers to withhold payment. He says that Reed Hein formed the policy after consulting with Ramsey. At Pages 124–28, he testifies about Reed Hein’s fee arrangement with Ramsey.

The firm has reviewed more than forty depositions that were taken in multiple lawsuits involving Reed Hein. Ramsey’s name appears frequently. Based on the testimony in the lawsuits, the following facts are apparent: (1) Ramsey received tens of millions of dollars from Reed Hein; (2) Ramsey learned about Reed Hein’s problems via complaints from consumers, and (3) Reed Hein made changes to internal procedures based on consultations with Ramsey.

Most fundamentally, the depositions make it clear that Reed Hein was a vast consumer fraud, and that the company never had any meaningful plan to terminate any consumer’s obligations to his or her timeshare developer.

Consumer Complaints

Consumer Complaints to the Attorney General. The State of Washington received more than three hundred consumer complaints about Reed Hein. More than ten percent of those complaints mentioned Dave Ramsey by name. This blog post discusses a few additional consumer complaints that mention Ramsey.

Consumer Complaints to Dave Ramsey. These are examples of complaints that consumers sent directly to Dave Ramsey.


Ramsey – Happy Hour Agreements. Ramsey entered into endorsement agreements with Happy Hour Media Group, which is an advertising agency that is owned by Brandon Reed.

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