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Hello all-

I saw a great comment and had to make a post of it here. Reading this is like a free version of Debt Cures. So if you want to know how to get out of debt and avoid credit problems, listen to what Debbi has to say and save the $40 you would spend on Kevin Trudeau’s book. Thank you Debbi for sending this in.

Debbi’s 10 tips to control your debt:

For all of you that have been suckered into buying this book let me just say that anyone who has had to deal with fraudulent charges on their credit card soon learns that the two magic words are “Identity Theft”. I did not purchase this book, and will not ( I might borrow it, just for entertainment value). Here is some FREE advice on how to control ( it’s impossible to get out of) debt.

1. Pay off lowest balance credit card, while still paying minimum on others. Take the difference from the paid off card and pay off next lowest balance card… continue. It will take time but your credit score will improve and you will be in more control.

2. On payday, put aside 5-10 % into a interest bearing savings account, BEFORE you pay bills.

3. Figure out what your weekly living expenses are and get that amount of money from your bank and put your credit cards (except one for emergency) into a safety deposit box at your bank. Take the one emergency credit card and freeze it. Carry one check with you. (Leave the other checks in the SDB) Use only cash for purchases. If you need to purchase something outside of your “allowance” write a check, but remember to deduct that amount from future “allowances” over a period of weeks or months.

4. Do not charge up more than 35% of total credit, but do put a small amount on your credit card that you can pay. Paying off credit cards for good actually lowers your credit score. You shouldn’t have more than five credit cards. If you have more, cancel the highest interest ones. Get rid of store credit cards. Any specials they have are counter productive by the time you pay the bill.

A great, and easy thing to do to help build your credit up ( after you have paid your credit card off- refer to step 1): say you have 4 credit cards. There about 4 weeks in a month.

Once a week fill up your gas tank ( or purchase transportation pass/tokens etc.) using one credit card. As soon as you get home that day send the payment in to that credit card company. Do not wait to get the bill. The revolving credit will be there, but you will not have to deal with billing cycles or late fees. The next week, use a different card and so on.

5. Stop buying junk you don’t use. Just because it’s on sale it doesn’t make it a bargain.

6. clean out your closets and storage areas and have a yard sale. put proceeds towards your debt. Or donate the items and take the tax write- off. Those really come in handy.

7. Allot a reasonable amount of money each week for entertainment. If you don’t find time for fun you can resent it and actually go into deeper debt by overcompensating.

8. If you have children, give them age appropriate chores and pay them an allowance. Allow them to spend 40% and require that they put 60% into a savings towards a wanted item. Explain to them that when they have twice as much as needed for the item they may purchase it. That way they always have money saved and they get to enjoy their purchase more.

9. DO NOT BUY THINGS ON TV OR ONLINE. The shipping and interest fees will hurt you. If you can’t pay cash for it at a store, you really don’t need it. Believe it or not there was a time that you had to actually talk to a salesperson face to face. You didn’t have to “press one for English”.

10. IF you have late fees or bank fees, take the time to go into the bank and talk to the bank manager and explain that you have a set plan to reduce your debt and ask if the bank will waive any overdraft or other fees. I have done this. You can’t do it more than once in a six month period, but if you are kind and honest with the bank, they will usually work with you. As far as credit card companies are concerned talk to a supervisor. Ask to have the late fee or overdraft fee removed in exchange for having the difference of the payment due paid in X amount of days (usually 10-15).

So there you go. Advice to help you with your debt management. All I want as payment is for you to pass this advice on. Maybe we should send this plan to the government and demand that the FICO score become obsolete. Basically, it doesn’t matter what your previous credit experience. If you cannot afford it, you shouldn’t be extended credit for it (excluding medical needs)

Save your money…..Don’t buy the book. Use common sense.

Thank you again Debbi Hobbs for sending in your own Debt Cures. If you have any other debt tips you’d like to share, you can send them in as a comment.

Have a great day,

Adam

Debt Cures Reviews

Click here for a Free Debt Consolidation Quote

Recommended Resources:

Debt Cures Alternative
Looking for a better option than Debt Cures? Check out John Cummuta's Debt to Wealth program. Click here to get out of debt

Can't pay the bills anymore?
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$1,500 in your bank account in 24 hours
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Hello all-

I made a short video with a clip from the Debt Cures bonus CD about how to get out of debt and save money. He says living within your means is a lie. See what he says instead.

To me, this could be a “Debt Cure” for most people. Let me know what you think.

Thanks,

Adam

Debt Cures Reviews

Click here for a Free Debt Consolidation Quote

Recommended Resources:

Debt Cures Alternative
Looking for a better option than Debt Cures? Check out John Cummuta's Debt to Wealth program. Click here to get out of debt

Can't pay the bills anymore?
Get 100% online debt relief. Click here for more info

$1,500 in your bank account in 24 hours
Save your home with a small loan today. Get $1,500 loaned to you today Click here for more info

Making Money Online for Newbies
Want a way to make money online, even if you're BRAND NEW to Internet marketing? Here's an easy, 100% legal and proven way to make money fairly quickly. Click here

ads by Debt Cures

Hello-

I wanted to point out other items in Debt Cures that Kevin Trudeau frequently refers to. One of them is the “History of the Credit Card.” It was a program aired on PBS. Its aim was to expose the credit card industry. You can view the program here.

Here’s part of the introduction:

“In “Secret History of the Credit Card,” FRONTLINE^® and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt.”

You should take the time to view the video and read the articles on PBS. Check out the video.

The other reference Kevin Trudeau refers to is the movie “Maxed Out.” Here’s a brief synopsis of the movie from the official site:

“Maxed Out takes viewers on a journey deep inside the American style of debt, where things seem fine as long as the minimum monthly payment arrives on time. With coverage that spans from small American towns all the way to the White House, the film shows how the modern financial industry really works, explains the true definition of “preferred customer” and tells us why the poor are getting poorer while the rich keep getting richer. Hilarious, shocking and incisive, Maxed Out paints a picture of a national nightmare which is all too real for most of us.”

You can view clips and more at the Maxed Out site.

You should take some time to visit the PBS site and read more about Maxed Out. The more time you spend educating yourself about debt and how the system is geared to work against you, the more energy you’ll spend to get out of debt.

I’ll post a few more items I’ve learned from reading Debt Cures in the near future.

Have a great weekend.

-Adam

Debt Cures Reviews

Click here for a Free Debt Consolidation Quote

Recommended Resources:

Debt Cures Alternative
Looking for a better option than Debt Cures? Check out John Cummuta's Debt to Wealth program. Click here to get out of debt

Can't pay the bills anymore?
Get 100% online debt relief. Click here for more info

$1,500 in your bank account in 24 hours
Save your home with a small loan today. Get $1,500 loaned to you today Click here for more info

Making Money Online for Newbies
Want a way to make money online, even if you're BRAND NEW to Internet marketing? Here's an easy, 100% legal and proven way to make money fairly quickly. Click here

ads by Debt Cures

Hello-

Ok, this post will finish my Debt Cures review no matter how long it goes on. This one will answer all the questions about the free money from the government, the $10,000 in 24 hours, etc. Let’s get started.

You can read the previous reviews one, two, three.

We left off on chapter 21. Chapter 21 is called Rebuilding Credit. This chapter offers several tips and options available to you to rebuild your bad credit. The first method he talks about is piggybacking. (The effect of this has now been negated by the credit industry. Read this.) The basic idea of piggybacking is someone with a good credit score adds you as an authorized user to their account and their good credit history gets reflected on your credit report boosting your score.

More tips to rebuild your credit include getting a co-signer on a loan, taking out and installment loan, and getting a secured credit card. He has a few tips for college students who are a favorite target of the credit card companies.

Chapter 22 - Building more wealth.

Here, we get a better idea of what Trudeau means by building wealth. “Every step you take to reduce or eliminate your debt is a step towards building wealth.” I would have to agree. The idea is a penny saved is a penny earned. The less you pay to the credit card companies, the more you have to save for more important things. It is hard to save or invest for your retirement if all you’re worried about is paying off your credit card debt.

Kevin talks about the differences between investing in depreciable assets - cars, TVs, clothes - and assets that increase in value over time - real estate, stocks, bonds, art, etc.

He mentions starting a corporation for your new business to get access to large credit lines and to leverage that credit line into good appreciating assets. Since this is a book about “Debt Cures,” the specifics about how to do this are not covered.

“How to get $10,000 in 24 hours”

This is a question several people have asked. The answer is - BORROW IT. He tells you about all the options you have for borrowing or finding money - home equity loan, friends, family, etc. He also mentions searching unclaimed funds, he says it is one source that many people have found money.

Trudeau finishes the chapter off with some good business tips and making money with your own business as an entrepreneur. The main point is to find out what the demand is than fill it, not the other way around. So instead of building a better mouse trap, find out what the market wants first and then give it to them. On the Bonus CD, KT mentions making money on eBay. There are thousands of people making money buying and selling on eBay.

Chapter 23 - Free Money!

KT talks about all the sources of free money from the government and private organizations you can get. Grants.gov is one of his first sites he recommends. You have to take the time to fill out the application forms and make the phone calls to get the money. He also talks about getting money from the Small Business Administration (SBA). Over 1 million people each year get free money and cheap loans from the government. You put in the work and you can probably get some too. Many of the grant programs have to be used for a specific purpose not just to do with as you please. But if you’re a new entrepreneur and you need some money, getting the money can be a great lifeline for your business.

One program that I found interesting was the Individual Development Account program. It’s like a 401K where the government and a private group will match your savings dollar for dollar up to a certain amount. You put in a dollar and they put in a dollar each - so you’ve tripled your savings just like that. The money can be used to buy a house, go to school, or start a business. Read more at idanetwork.org

College students - make sure you apply for Pell grants and other Federal grants.

Chapter 24 - The Conclusion. A short two page chapter encouraging you to take action. Then he offers links to many of his sources and a couple sample letters to send to debt collectors and a sample balance sheet and income statement.

That’s it. That is Debt Cures. All in all, I would have to give Kevin Trudeau’s latest book a passing grade despite the hassle of ordering it. If you use just one of these tips in here, you will have more than paid for the cost of the book. Since we are talking about big amounts of money when we are talking about debt, savings of a few percentage points on your credit card interest rates or negotiating your debt lower can save you thousands of dollars. And that is what makes buying a book like Debt Cures worth it.

If you have questions about the review or about “Debt Cures They Don’t Want You to Know About”, you can post them in the comments section and I will get to them as soon as I can.

Thanks,

Adam

Debt Cures Reviews

Click here for a Free Debt Consolidation Quote

Recommended Resources:

Debt Cures Alternative
Looking for a better option than Debt Cures? Check out John Cummuta's Debt to Wealth program. Click here to get out of debt

Can't pay the bills anymore?
Get 100% online debt relief. Click here for more info

$1,500 in your bank account in 24 hours
Save your home with a small loan today. Get $1,500 loaned to you today Click here for more info

Making Money Online for Newbies
Want a way to make money online, even if you're BRAND NEW to Internet marketing? Here's an easy, 100% legal and proven way to make money fairly quickly. Click here

ads by Debt Cures