Home Business $10M In Debt Forgiven by Ramsey Solutions For 8,000 People
$10M In Debt Forgiven by Ramsey Solutions For 8,000 People
Nashville, Tenn. – Dave Ramsey's company, Ramsey Solutions, took on the debt of 8,000 people across the country – a total of $10 million – and completely forgave it.
As America's trusted voice on money, Dave Ramsey is known for his hard stance against debt. From the beginning, he's run Ramsey Solutions completely debt-free. But in an act of generosity, his company purchased $10 million of unpaid medical and car debt from two private debt collection companies, in order to forgive it.
Beginning Nov. 9, Dave and his 950 team members made phone calls to let the recipients know their debt had been forgiven. Recipients will also be notified by a letter in the mail within the next five weeks.
"This year has been one of the worst financially for so many Americans. Thirty years ago, my wife, Sharon, and I were on the heels of a financial catastrophe ourselves. We know firsthand the pain of having creditors calling at all hours of the night and wondering how we were going to keep the lights on," said Dave Ramsey, CEO of Ramsey Solutions. "But we said never again to living with debt. We worked our way out of bankruptcy, turned our finances around, and now we can have the most fun with money that we ever have – giving."
Millions have used Ramsey Solutions' Seven Baby Steps to get out of debt, build wealth and give. By living out the principles they teach, the company is now able to give generously, even in times of economic uncertainty.
To learn more about Ramsey Solutions' $10 million debt payoff, visit www.daveramsey.com/forgiven.
About Ramsey Solutions
Ramsey Solutions is committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development. The company's success is defined by the number of people whose lives are changed by a message of hope. Through a variety of mediums including live events, publishing, nationally syndicated radio shows and columns, Ramsey Solutions uses common sense education to empower people to win at life and money. Millions of families have graduated from Financial Peace University classes across the country, and Ramsey Solutions' world-class speakers have brought vision, inspiration, and encouragement to more than a million more. Recognized by Inc. Magazine as one of best places to work in the country, Ramsey Solutions and its team of more than 950 are dedicated to doing work that matters. For more information, visit ramseysolutions.com.
Ramsey Solutions
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Margaret Hodge Hodge December 26, 2020 At 6:11 pm
Is the super spreader party true or is it fake news? Never happened?
Pat December 26, 2020 At 6:22 pm
So absolutely bizarre. He has an un-masked 900+ super spreader in the worst Covid infected state in the world and what? Your asking we trust him?
Charlie December 26, 2020 At 11:07 pm
Was this from the backlash from the COVID-Christmas party he threw?
Charles Kildgore December 27, 2020 At 12:15 am
In typical Dave Ramsey self promoting style he fails to mention what he paid for the debt(probably 2 to 10% of the original charge) and the income tax impact of forgiven debt as income.
Not nearly as impressive when you analyze the facts!
Fred Scott December 27, 2020 At 11:57 am
If someone forgave my debt of 5,000 dollars and it cost him only 500, what would I care? How is that relevant? I still don't have to pay 5,000 dollars. I would agree with you on the tax issue, but that's such a small drop in the bucket for someone who isn't making much money anyway. (12% or less with family and children) that it's pretty manageable.
Gary T Anderson December 27, 2020 At 6:30 am
In a time when we are starving for good news this DAVE RAMSEY report offers hope and feeds our spirits.
Gary T. Anderson
Ben December 27, 2020 At 1:36 pm
It's called a tax deduction people.
BOBBY R BROWN December 27, 2020 At 7:29 pm
It's very easy to see from the comments which ones are the Democrats. They would complain if you hung them with a new rope.
Tssadler December 28, 2020 At 6:09 am
Exactly. Because in the end, you've hung them
Billy December 27, 2020 At 10:24 pm
It was through RIP Medical Debt. One dollar pays off $100 of written off medical debt that is bought from collectors. So $10,000,000 of medical debt is purchased for $100,000. I know a number of churches that do this. I wish press releases like this would explain this fact for two reasons:
1. Educates the public that you don't need ten million dollars to do this. If you can raise $10,000 then you can pay off $1,000,000 of medical debt.
2. It's more transparent and humble. Without sharing this information, press releases like this lead to pride and puffery. Just my opinion.
Toniesha December 28, 2020 At 4:48 am
I think it was a great deed He did it for people no matter if we write it off on his taxes or not. I would be honored & grateful if I was one of the recipients who received I pay off of a loan or medical bills Especially during this time.
Hugh McKinnon December 28, 2020 At 2:56 pm
How did that COVID super-spreader event go? Spreading COVID during a pandemic shows he has no compassion – don't give free advertising to this plague carrier. Sorry to see he is part of Williamson County.