Comments on: Dave Ramsey, Financial Peace University and Bankruptcy

By: Dave Ramsey hates bankruptcy – but don’t listen to him

Dave Ramsey hates bankruptcy – but don’t listen to him — Fri, 27 Jan 2012 17:11:07 +0000

[...] http://www.oklahoma-bankruptcy-attorney.com/general/dave-ramsey-financial-peace-university-and-bankr... [...]

By: Marvin

Marvin — Sat, 05 Dec 2009 19:13:08 +0000

Dan you have a great blog. The bottom line for all the expert on paper is a person needs to do what is best for their family. Dave feels very powerful since God has allowed him to recover from bankruptcy and gain a large following. At the very point when he had to turn over all his belongings to his creditors is the feelings he needs to use when he telling people not to file for bankruptcy. At that particular point the only thing Dave was thinking is how and what can he do to get him and his family out of that bad situation. God works with each person based on their needs and how much faith they have in HIM. God Bless…..

Marvin

By: Tim Evans

Tim Evans — Thu, 09 Jul 2009 16:52:08 +0000

Hi, Dan (and everyone else).

First, a bit of disclosure. I am a graduate of FPU, and, hopefuly soon, will be adding bankruptcy to my practice.

You mentioned that Dave file Chapter 7, which I think is true. However, according to Dave, he eventually repaid all the debts that were discharged. (I have to say I certainly wouldn’t have done that if I were in his shoes).

By: Jared Hall

Jared Hall — Thu, 25 Jun 2009 17:52:21 +0000

Ah, Dave Ramsey. Told a lady here in Texas who was being sued by AmEx for some $20k to take an agreed judgment then try to save up $10k to settle it or work out a payout plan. How’s that going to help? She’s out $10k and she has a negative hit on her credit report. And he repeated the advice even after she told him she had over $75k in unsecured debt. As Davy Crockett said to his creditors, “You all can go to hell, I’m going to Texas.” So, if she listens to Dave, she’ll be out $10k, probably behind on all the other debt, take a hit on her credit report for having a judgment and not paying in full and might still have to file bankruptcy. I dont’ see how that’s good advice. Putting off what has to be done doesn’t make it any easier.

By: Dave Ramsey – Bankruptcy Bigot or Personal Finance Saint? | How to Get Out of Debt UK

Wed, 24 Jun 2009 20:18:16 +0000

[...] has a fantastic post on his site about Dave Ramsey and his aversion to bankruptcy. It is a post worth reading and the comments as well. It provided a good look at different points of view about Ramsey’s [...]

By: Dave Ramsey – Bankruptcy Bigot or Personal Finance Saint? | Myvesta Foundation

Wed, 24 Jun 2009 19:40:34 +0000

By: Dave Ramsey – Bankruptcy Bigot or Personal Finance Saint? | Myvesta U.S. Blog

Wed, 24 Jun 2009 18:29:13 +0000

By: Dave Ramsey – Bankruptcy Bigot or Personal Finance Saint?

Dave Ramsey – Bankruptcy Bigot or Personal Finance Saint? — Wed, 24 Jun 2009 18:26:28 +0000

By: Dave Ramsey – Bankruptcy Bigot or Personal Finance Saint? | Myvesta Australia

Wed, 24 Jun 2009 18:07:56 +0000

[...] attorney. He has a fantastic post on his site about Dave Ramsey and his aversion to bankruptcy. It is a post worth reading and the comments as well. It provided a good look at different points of view about Ramsey’s [...]

By: Steve Rhode

Steve Rhode — Wed, 24 Jun 2009 15:34:26 +0000

As someone that has lived through bankruptcy, the trials of debt, and spent every moment since 1994 helping people find a way to overcome their debt situation I’d like to chime in.

Several commenters have noted that living through financial problems is a mentally taxing event. And in my humble opinion I don’t think that we best assist someone to live through a well intentioned path of what they would consider punishment at a time they may be lowest in their life.

The process of bankruptcy can result in the teachable moment for those that will hear the message, which is most. The emotional pain of loss and the process can result in a lifelong desire to avoid such pain again.

I do object to declaring that those that choose to embark on the path promoted by Dave are somehow better because they avoided bankruptcy and lived in deprivation to make amends and meet goals.

I spent many years telling people to avoid bankruptcy as well but upon introspection that was more about my internal voice than what was the best technical tool for that person at that moment in their life.

If Dave wanted to promote a path that worked best for the individual, he would promote the investigation of all methods to allow the individual to make a fully informed decision about what is best for them.

One point that is often missed is that someone can go bankrupt, receive the protections available under the law, and still repay their creditors because they have a moral belief to honor that obligation.

Forcing people to live a path certified by Dave because of his experience is a disservice to many who are suffering with depression, pain, emotional trauma and difficult life situations as a result of their current financial misfortune.

I look at it like this. In the medical world I would not leave a javelin through the thigh of someone as a lesson on where not to stand at a track meet. I would use the best available tools and treatments at my disposable to render compassionate aid and not take any off the table because of my prejudice.

Steve
@GetOutOfDebtGuy