The Ramsey Show Highlights I Got Scammed Out Of $38,000 By A Friend
Feb 18, 2026
George, a caller who was scammed out of about $38,000 by a gym acquaintance, shares his legal battle and emotional toll. He recounts hiring lawyers, chasing collections, and learning judgments can be worthless without assets. The conversation covers the limits of garnishment, the cost of pursuing fraud, and when to emotionally write the loss off to refocus on getting out of debt.
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Gym Friend Scam Cost Thousands
- George described being scammed by a gym acquaintance who ran a fake LLC and lured him into a high-interest savings investment.
- The scam cost him about $38,000 to $45,000 and he later hired lawyers and pursued legal action.
Judgment Won But No Collectible Assets
- George explained he pursued the scammer legally, obtained a judgment, but the defendant had no assets or income to collect against.
- He also hired a debt collection company and spent additional money pushing the case during the pandemic.
Know When To Walk Away
- Dave recommended emotionally writing off the loss if continued pursuit costs more than potential recovery.
- He advised reallocating energy to getting out of debt and moving forward financially.