Timeshare company endorsed by financial guru Dave Ramsey is now in hot water for scamming customers out of their money. Timeshare Exit Team says it can help people cancel their unwanted timeshare contracts, but the cost was a lot more than people expected and some never got out of their timeshare. Inside Edition does a full investigation into the situation.
It may have seemed like a good investment at the time: a vacation getaway where you can spend a week or two or more.
But some say they rue the day they bought into an expensive timeshare.
Financial guru and radio personality Dave Ramsey also thinks timeshares are a bad investment. For three years, he’s been telling his listeners stuck in timeshares that there’s a way out: a company called Timeshare Exit Team.
“Timeshare Exit Team, it’s the only people we endorse for getting you out of your timeshare because it works!” Ramsey has said.
But several customers told Inside Edition they regret ever signing up with the Timeshare Exit Team.
“You’re already in a bad situation trying to get out of the timeshare, and then you hire a company that you think is there to help you, only to find out that you’ve been duped,” one customer said.
In one video, the CEO of Timeshare Exit Team, Brandon Reed, tells Ramsey they offer a money-back guarantee.
“We offer a 100% money-back guarantee. If we can’t get them out, we give them their money back, period,” Reed says.
Richard and Rosemary Sweeting say Timeshare Exit Team should refund their $5,000 because after years, they received no results and ended up negotiating themselves out of their own timeshare.
“At least honor your money-back guarantee,” said Richard Sweeting.
Many customers Inside Edition spoke with said that the money-back guarantee is nothing but an empty promise. Inside Edition’s investigation found hundreds of families have filed complaints against Timeshare Exit Team.
Lawyer Greg Albert represents over two dozen Timeshare Exit Team customers.
“These customers are very vulnerable,” he said. “They often feel like they’ve been victimized by the timeshare company itself and then they get victimized again.”
In a 2018 video deposition obtained by Inside Edition, Reed talks about how critical Ramsey’s endorsement was for business.
“When we went from radio and local endorsements to Dave Ramsey, it’s like poof, the roof… We went from thousands to tens of thousands of customers,” he said.
Inside Edition asked Ramsey for an interview about what relationship he has with the company. He never responded to our request.
We tried to speak to him at one of his leadership conferences in Dallas.
“We’ve been trying to reach out to you,” Inside Edition Chief Investigative Correspondent Lisa Guerrero said.
“I bet you have,” Ramsey replied.
“I’m sorry we’re not doing interviews,” a Ramsey employee said.
“We’re wondering why you’ve endorsed Timeshare Exit Team?” Guerrero asked.
A Ramsey employee then tried to prevent Guerrero from asking any more questions as Ramsey walked off into a private dinner.
That encounter that left Guerrero with a sprained wrist and bruises on her arm.
A week later, Ramsey spoke about Guerrero on his show.
“I’ll answer your question. Why did I endorse Timeshare Exit Team, because they’re doing the right thing and got people out of timeshares after companies had screwed them,” Ramsey said on his show.
But Rosemary Sweeting said, “It’s not just Timeshare Exit Team that betrayed us. Dave Ramsey betrayed us because we trusted him.”
Timeshare Exit Team is currently being sued by the Washington State Attorney General for allegedly violating the State’s consumer protection act.
Timeshare Exit Team and Brandon Reed deny any wrongdoing.
In a statement, the company says they’ve helped, a majority of its customers, over 23,000 people successfully exit their unwanted timeshares. They also provided Inside Edition with the names of five people they say are satisfied customers. Inside Edition reached out to them all. Two called us back to say they were very happy with the company’s work.