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Your Debt Solution Does Not Include Dave Ramsey

June 27, 2014

Beware of Bad Advice (It Is Everywhere)


As a Detroit bankruptcy law firm, our team examines the financial problems of clients every day. As a group, we could work far less and make far more if we could profit from showing people how to avoid bankruptcy by increasing their incomes.

Apparently, the team at the Law Office of Jeffrey J. Randa is working too hard (and earning comparatively too little) by actually getting people out of debt with the bankruptcy process, because it appears that many people are willing to pay good money to hear bad advice.

As a reputable bankruptcy law firm, we feel it is our duty to warn you about the many schemes that exist, preying off individuals who are drowning in debt and have nowhere to turn.

Don’t Buy Anything—Ever!


Dave Ramsey, a self-proclaimed money genius and talk show host, does not have any friends at the Law Office of Jeffrey J. Randa. He boasts a showroom full of “get out of debt” schemes including, books, DVD’s, mugs and board games. All of these materials are allegedly designed to get you out of debt. Coffee mugs? Seriously? You bet, all the way to Ramsey’s bank!

Ramsey will advise that bankruptcy should be your last resort (after you have bought and tried all his stuff, of course), even though Ramsey himself filed for bankruptcy once-upon-a-time.

The real problem is not that Ramsey, and others like him, get rich peddling their nonsense, it is that he, and others, offer nothing by way of real help that cannot be otherwise obtained for free, and from good people, like Suze Orman. You, the client, are the loser in these debt consolidation schemes.

“You Have an Income Problem”


Our favorite story to share about Dave Ramsey and his “financial advice” happened during a television show. Ramsey was reading emails he had received.

He begins reading an email, and the writer begins by proudly declaring that he and his wife “enrolled” into Ramsey’s “Financial Peace University” (only $299 for the home study kit, coffee mug, and money clip). The writer goes on to describe some of his problems and asks Ramsey for tailored advice given his unique situation.

Ramsey’s response to the email was, “You have an income problem.” He then told the caller to get a second job…

Are you blown away? If you are experiencing problems with debt, you have an income problem. If you did not have an income problem you would not be in debt. Have you ever, much less recently, met someone who has the ability to get their income up, but has decided not too? No way. Yet, this is just the kind of advice that Ramsey makes a living selling.

Respected Money Experts Do Exist


Respected money expert Suze Orman will sell you all the materials you can buy to invest wisely and save for retirement, but she will also tell you, for free, what you can do on your own to get out of debt

Orman acknowledges that you need enough money left over at the end of the month to start making payment plans. Her  investment advice is miles ahead of Ramsey’s. Ramsey, on the other hand, just packages well-known and well-worn strategies for debt reduction into fancy materials.

If you are looking for sound financial advice and tips for reducing your debt, spend some time listening to Orman. At the Law Office of Jeffrey J. Randa, we think she is worth your time.

In addition, you can always reach out to your local bankruptcy law firm for advice and counsel on your legal options for consolidating and/or eliminating your debt. At the Law Office of Jeffrey J. Randa, we solve financial problems all day. With your best interest in mind, we can counsel you about moving forward with eliminating your debt once and for all—for free. There is no cost for the initial consultation.

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