I'm Out $50,000, Now What Do I Do?

I'm Out $50,000, Now What Do I Do?
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[@TheRamseyShow]

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[@AndreyZenperial]

-What’s your net worth? -Imaginary cabin..

[@Spaceysgurl]

I spit out my drink! That was hilarious.

[@AndreyZenperial]

Jasmine Carter Appreciate it🤗Hope the spill isn’t too bad haha

[@luminous6969]

LOL! XD

[@carojames6776]

.. ........and a money tree. .

[@AndreyZenperial]

caro james hahaha

[@ericdahl2915]

Dave should have a device installed on his phone lines that shocks a caller when they talk over him

[@marlynsantos9677]

Omg listening to call was frustrating. Stop interrupting and listen to Dave! Goodness

[@LG123ABC]

Yeah, this guy couldn't stop running his mouth long enough to listen to what Dave had to say. Plus the way he was hemming and hawing around whenever Dave asked him questions tells me there's a lot more to this story.

[@rothieadunnigan2009]

Probably nerves. A large potential monetary loss to face.

[@HamiltonRb]

Marlyn Santos How would you sound if you were nervous, lost 50K and calling a radio station?

[@jonathanchow993]

i have this odd satisfaction watching dave ramsey videos and patting my self on the back thinking wow i made all the right calls before my 20s and in my early 20s. Now i have a 100 k put in savings and not a dollar in debt

[@jeep19]

Stay that way...

[@jarrettpierce5626]

Baby step 2B. Buy a cabin while paying off debt

[@youngtimer964]

Also, another call from “under the sea”

[@NeoAndersonReloaded]

Loss 50k and in-law stays in the house. That sucks!

[@---cr8nw]

Nah, there are other options. He said they still have 50k to put towards it. I would seriously consider a cheap trailer. You can get a small one brand new for under 30k. Sure, they depreciate worse than cars instead of appreciating like houses, but the intent is to house elderly people. That's not a 30 year commitment. I'd try to get one brand new for under 30k and call it a day. After it's served it's purpose, sell it super cheap to a mobile home park.

[@alanzhao4589]

this man needs to let Dave talk! its driving me nuts.

[@arandaholley1719]

I googled and they filed chapter 7.

[@bo9645]

I had unpaid credit cards, medical Bill's and student loans of $33,900 . I met Andrew Smith an ethical hack and debt finance expert ,he helped me out by paying them all in full with no upfront charges. You can text Andrew Smith +1( 267....727..2535 )

[@StephanieJoRountree]

I wonder if this is Riverwood Cabins. They filed Chapter 7. They are also under police investigation.

[@them2002]

I looked it up based upon your comment here. What a nightmare for those poor folks. It seems like there may have been some fraud involved given that the salespersons were calling people who had already given extensive deposits and basically demanding more money before filing Chapter 7. The CEO of that company had better get plastic surgery and hire Wackenhut security because someone's gonna go after him. He's basically another Bernie Madoff.

[@StephanieJoRountree]

@@them2002 Right. Which means they could be successfully sued - probably as a class action.

[@emmanuelheights2506]

Riverwood Cabins....it's Chapter 7 he lost all his money

[@xman666soad]

Ouch

[@artbigotti2640]

I get being nervous, but shut up and listen to Dave’s answers!

[@wahinepaddler4]

Omg..the babble..stop talking!

[@dcross446]

Remember this call when you ask yourself why the legitimate contractors you hired cost so much yet the guy in the truck was half the price.

[@BigHayes7771]

Could have paid a local contractor and bought all the supplies wholesale

[@PInk77W1]

chadwick hayes yeah but he doesn’t have glossy sales brochures

[@mellel1797]

Oh boy...this sucks. That company filed Chapter 7 with assets of just over a quarter of a million US dollars, but owing nearly $6 million dollars!! That $50k is gone. Definitely upsetting.

[@AndreyZenperial]

Melle L couldn’t agree more with you!

[@mellel1797]

@@AndreyZenperial Thank you for your reply. Subscribed!

[@AndreyZenperial]

Melle L Thank you so much Melle! Means the world to me🤗

[@jeep19]

Nah, phfruqk'em 🤔 poor boundaries...

[@heroshyma69]

If you're reading this... God bless you.

[@Lucky-xs1nk]

May God bless you as well!

[@diyswithangie7377]

Thank you! God Bless you too🙏💙💜

[@stefan18375]

You three

[@jaya.0069]

Thanks, and Blessings back at ya!

[@True2U08]

Lord knows I needed that. God bless you and yours.

[@ransom182]

Call Dave to use Google for you...

[@random-nz7dy]

I think he already knew the answer that it was a chapter 7 and he had lost all his money but he was calling Dave in desperation.

[@CapitalCashflow]

1. Spend less than you earn 2. Buy assets not liabilities 3. ?? 4. Profit!

[@LaDeeDah]

I feel so bad for him. My prayers are with him, this really made me sad

[@00Noontide]

Gosh, this guy kept interrupting Dave.

[@rothieadunnigan2009]

Probably nerves. A large potential monetary loss to face.

[@pfeiffdog0811]

00Noontide usually it’s the other way around

[@Azidoazideazide.]

Guy needed to shut up!

[@mind.health7834]

I feel sorry for many callers. I do appreciate that they share their life lessons.

[@Ant0417]

Wow what a terrible outcome! I feel for the guy but lesson learned...never pay that kind of money up front for the “promise” of getting something built. That 50k is long gone.

[@Will4fun]

This is why you need to do business with builders who are close by ! The cabin builder had no vested interest in making the buyer happier or satisfied !

[@BrandyBee1]

Gosh that sucks for them.

[@doctorgap]

On riverwoods website says chapter 7 on the top of the page.. that's unfortunate for this guy

[@ApplicoInc]

Bummer about the $50k, should've done better due diligence on the cabin company before paying that much upfront. 🤷🏼‍♂️

[@angelikalaser7778]

Thats impossible nowdays, there a huge travelling company in EU which declared bancruptcy out of the blue and people were kicked out of hotels

[@ShearF3ar]

How could you possibly know. They dont advertise hey we are going to file bankruptcy but come buy stuff still.

[@syntaxerror724]

@@ShearF3ar paying 50k upfront is a huge risk, and that's why you pay on delivery of contract/ or goods.

[@grayandgray]

There seems to be some tidbit in there that this was the inlaw's money, who "sold a home, to get a new home". Very muddy. I think they will have to bring that person into their home now.

[@random-nz7dy]

I agree. I think this was the mother-in-law's $50,000 from her home and they were going to use it to get her a new place...oof.

[@junkabcjunk]

It seems like it was their idea to make them purchase this cabin for them to live and probably they arranged for this purchase decision hoping they could make them settle somewhere a little further away. It seems that plan backfired and now they may have to keep them in their home or fund some money out of own pocket to have them stay sufficiently far away. I believe that is their real worry now, extra hit it will cause on their pockets whose final net amount is presently unknown.

[@elianah8803]

They lost their in-laws money not their own. In-laws sold their home, living temporarily with daughter and son in-law and someone come up with this idea. This is both an ethical and financial dilemma. He’s not saying it outright but that’s what happened if you listen closely. To bad....

[@junkabcjunk]

But I think the caller had a day in the decision on how to spend that 50k. They are probably in it since they steered them towards that decision.

[@DarkReapersGrim]

Here's a statement from the owner: Kent Lapp, the owner of Riverwood, has commented on the Chapter 7 filing as follows: “Because of continuing operating losses, and the departure of some key executive, I resumed the role of CEO for Riverwood late in 2019. At that time, Riverwood was experiencing a severe shortage of working capital. During 2019, I caused a substantial amount of fresh capital (much of which was derived from my personal assets) to be infused into Riverwood, but this proved inadequate to meet the need, and Riverwood was forced to cease operations in late January, 2020. Naturally, I regret this very much, not only because I have lost my entire investment in Riverwood, but also because I, and my parents before me, have been dedicated to this line of work for nearly 40 years, and I know this will cause financial loss for Riverwood’s many fine customers and vendors, and loss of jobs for our many valued employees.”

[@Azidoazideazide.]

This is so sad!

[@clam4597]

So sorry for his unfortunate loss.

[@bo9645]

i feel the same here , I had unpaid credit cards, medical Bill's and loans of $78,800. I met Andrew Smith an ethical debt finance expert after watching dave ramsey videos and patting my self on the back thinking wow i made all the right calls because he helped me out by paying them all in full with no upfront charges. You can text Andrew Smith +1( 267....727..2535 )

[@bettysmith7045]

This is so awful for these people!

[@jeep19]

Phfruqk''em, they lose...

[@loro1rojo]

This guy needs to see an attorney. Dave shouldn't give out legal advise.

[@fnordiumendures138]

Well, it's practical, not legal, advice that when a company has no money they are not worth suing.

[@loro1rojo]

@@fnordiumendures138 dave is talking about the types of bankruptcies and the caller's chances of recovery. Dave is not an attorney. The caller needs to discuss this with a bankruptcy attorney.

[@---cr8nw]

I agree. Dave's basically telling him to give up on 50k. Hogwash. Talk to a lawyer. It's possible that a case can be made for preference. Or it's possible that the company still has the raw materials for building the cabin. If they can get the materials and plans, they can hire out the rest of the job for the other 50k and not lose out on much.

[@edennis3202]

The company filed for Chapter 7. He'll get pennies on the dollar. There are dozens of people (about 60) in the same boat because the company kept taking hefty deposits knowing they were going into bankruptcy.

[@---cr8nw]

@E Dennis, doesn't matter. He needs a lawyer, not free advice from a talk show host.

[@Kysen10]

Constant interruptions, does the caller not understand basic etiquette?

[@angelikalaser7778]

He is very stressed

[@junkabcjunk]

Half of money put aside for this is go e and the "problem" this was supposed to solve (grandparents alternate accommodation) is still there as-is. With half of money gone and problem still where it was, anyone would be stressed enough to not have etiquette in their voice.

[@ErrorPagenotFound-ig1cy]

Not all families teach proper social etiquette

[@612osiris]

why is every call unprepared, you have to be ready with your numbers and info before calling in.

[@-NoneOfYourBusiness]

My guess is that guy was talking over the Compagny Owner when he was trying to explain him the contract and the risks so he didn't understand what he was signing.

[@Will4fun]

It would be nice if Andrew wouldn't talk while Dave is evaluating the situation and giving advice !!!!

[@youngtimer964]

Out the 50k and still owes in-laws a house! Baby step 2? Seriously? Needed to have more than just physical boundaries with family.

[@GooniesGirl]

Yeah easier said than done. I'm dealing with financial abuse from my narcissistic brother. Out thousands of dollars. Boundaries are crucial but hard to maintain. I just had to go no contact. Sad situation all around.

[@foxhound34]

It was hard to hear, but it sounded like the MIL sold a house and they were using the profit to buy the cabin, but again he called the show on a potato so I could be wrong.

[@wanefelicia8779]

@@GooniesGirl same issue here...narcs all around! It gets tough with fam 🙏👍

[@bobbyb7672]

Should of just bought a house...

[@roxannegordon6162]

Another one who won't shut his trap and listen. After saying those famous words that mean NOTHING: "I have a quick question." No you don't. Hit the mute button quick, my ears are bleeding!!!! He just won't listen after calling you. WTB!!!

[@ThinkMoneyBenny]

Im sure many people lost 50k too after todays market plunge

[@alexp2019]

Think Money lol, it’s just beginning though waiting for under 21000

[@jmannii]

I thought that's what this call was going to be about.

[@anthonya2479]

@@alexp2019 You'll be waiting till the next Democrat get in office but as of now it's time to get in. Thank me later.

[@greenAbbot]

@@anthonya2479 The stock market does better under Democrats.

[@anthonya2479]

@@greenAbbot Wont this time plus they manipulate it for them.

[@korn111685]

Bad beans man.

[@whereschloevids]

Bro...shhhhhhhh

[@specialK_hvac]

Curious is there a proper baby steps Facebook group or are they all unofficial

[@robertbell525]

The caller sounds like Charlie Brown's teacher. I miss the days of landline phones.

[@mr.speyside5240]

That mute button 😂😂😂

[@susansauls8902]

Difficult to understand what he was saying. Muffled audio.

[@raptorgod77]

I came here to gain knowledge 😤😤😤 im a brickhead when it comes to this so i hope watching this video for 5 minutes and switching to something else will make me big brain investor stocks guy

[@Azidoazideazide.]

Never day trade single stocks. Watch more Dave Ramsey, his advice is pretty much free! Never pay for courses from fake financial gurus!

[@sasasavage5047]

Interesting how Dave is talking as if 50 grand is nothing.

[@ErrorPagenotFound-ig1cy]

G to him it is.

[@PInk77W1]

It is nothing, now

[@alexp2019]

It is nothing... while chap7

[@HamiltonRb]

G Because it’s not his 50K. It’s like Jeff Bezos paying 160 million for a house, who cares, not my money

[@rebeccavaughn1282]

His point is if it’s chapter 7 it’s gone so gone is gone.

[@RJRussoVids]

As soon as he said in-law I knew it was trouble.

[@christophercarrigg3775]

Scummy company

[@jeep19]

Hahahaha, how about those poor boundaries... that'll learn ya 😉👌

[@random-nz7dy]

Anytime you contract with somebody, after you verify that the company is legitimate and do your research, and after you make the first deposit, you should never pay for any work until it's done. Especially for something as expensive as this. Any large expenditure like this needs to be set up for payments on and ongoing basis based on work done. But even if you are paying for a $2,000 home repair you should still work out an agreement to where you only pay half up front and then half at the end or something like that.

[@allpraisegoddessmonika2887]

What the heck they had a contract!

[@junkabcjunk]

Bankruptcy is the duster that has powers to erase the contract.

[@PInk77W1]

So sad

[@game9848]

If you your spending more than $1k on a project; call Uncle Dave Ramsey first.

[@jjgrey1488]

When someone won't respond to emails or calls they are avoiding you...I've learned that thru experience...to give some outfit $50k with NO research of any kind (you'd have found out they were in trouble)is incredibly incompetent...I once ran across an outfit doing seminars on day trading...and $5k+ from y to find out " pigeons" who forked it over in ONE sitting only to find out other payments were needed...who does that? I'll sleep on a $50 purchase...caveat emptor

[@michaelstephen86]

This video was 5 mins too long

[@MrBigtime1986]

how come dave won't talk about how the stock marketing is crashing? can he give us some advise on how we're going to get through this?

[@clouder923]

Do nothing

[@anthonya2479]

You're gonna hold what you got and buy more for cheap.

[@matthewgarcia5567]

Ask and you shall recieve

[@MrBigtime1986]

@@matthewgarcia5567 I was hoping he would say abandon all hope and turn into road warrior people. i'm disappointed in him

[@matthewgarcia5567]

@@MrBigtime1986 that would've been much more entertaining.

[@LLhypno]

If everyone who views this gave the guy a $1 he would get his dosh back.

[@ChristoherWGray]

Woodtex / Riverwood Chapter 7 End of story Dont pay for something until it is delivered in your hands Ever

[@edennis3202]

Yes, I just found an article about it. Not only did the company file for Chapter 7, but they kept taking 50% deposits from customers knowing that they were going into bankruptcy. Slimy.

[@nephetula]

I wished the guy would stop interrupting when Dave is talking.

[@dr.bradshaw]

Dave should’ve muted this guy long ago. SHUT UP AND STOP TALKING OVER HIM

[@GardenerEarthGuy]

They should be able to make that 50 grand back by delivering pizza at night in a couple months while eating beans and rice, rice and beans, plus cold pizza. Not a big deal...

[@the_rush_to_nothing]

Caller: Dave, I think we lost $50,000. Dave: What's your house hold income? Caller: I mean, the company might have filed for bankruptcy. Dave: I think you need to talk to find a pastor and get some marriage counseling.

[@rockintherae]

File a claim with your bank. You paid for something that you never received.

[@DaveCompton5150]

A bank will never pay a dime in this circumstance

[@RickDanner]

im out 2/3rds of life savings - Dave your wrong on this I would give anything to only be out 50k

[@WOLF-mh6kq]

This will probably get lost in the comments but, yoga mats are short for yoga Mathews

[@Curiousnessify]

Sorry for the loss but pls work on your verbal diarrhea especially on a radio show.

[@Gus_Chiggins]

If he was a real man he would have built the log cabin himself! 😤

[@capnskiddies]

Building the thing isn't the problem but if you're doing it evenings and weekends and on your own it's not getting done quickly. That said for 100k, or even the remaining 50k, I would think you'd get a palace of a log cabin.

[@josephwilson7937]

First !!;)

[@ErrorPagenotFound-ig1cy]

Joseph Wilson loser

[@WhyYouAskingMe]

SECOND!!!!

[@ErrorPagenotFound-ig1cy]

Matthew Wallen another loser

[@LG123ABC]

@@ErrorPagenotFound-ig1cy 27th! You okay with that one?