Does Debt Cures provide a ‘cure’ for your debt problems?
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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
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I just wanted to say thank you for all of you reviews and the comments that you posted. I didn’t find them until after I had ordered the book but that’s okay. I just received my copy of the book in the mail yesterday and will start reading today. I just have one question though, in the infomerical KT says that in the book he will tell you where to get a million dollar in business credit but I didn’t see anyone mention it. I just thought with such a big claim someone would have mentioned it. So did you find anything like that in the book I am interest to know along with what where to two words he was talking about. Thank you!
Thank you for posting this site, Adam. I have not purchased the book yet, but I was very tempted tonight by the infomercial. This site has been very helpful and informative.
My question is, does KT actually tell you what to say to the credit card companies to get them to lower your interest rate. I have had a good credit score for a while, but lately it seems that the CC companies are raising my interest rates just because they can. In the past I have asked some of them to lower my interest rate; one company lowered it about 1%, and others have told me no, they cannot, and their supervisor can’t lower it either because the increase is computer generated. That sounds like a bunch of bologna to me, but I don’t know what to say to them beyond just asking them to lower my interest rate.
What are the two magic words he talks about that when you use them makes companies do what they haven’t done in the past?
Brandi… the two “magic words” are IDENTITY THEFT.
Hello-
You can read replies to these questions here: http://www.debtcuresreviews.com/questions-and-answers-about-debt-cures/
Thanks,
Adam
http://www.debtcuresreviews.com/
thank you so much for all the great information here. I was about to buy the book and found your website no need to buy the book now. thank you for the reviews they helped so much.
What alot of people are doing or not doing is they are not in control the credit card company is in control. Let’s say you have a credit card with a limit of $3,000 and carry a balance of $2,000. You call the card company asking them to lower the interest rate and they say “NO”. Its because they know you won’t take your business elsewhere. The credit card companies fight with each other for “YOUR” business. You have to be willing to cancel your card and find a new company with lower interest rates. The only way you can cancel your card if it is paid in full or close for you to pay it off. When this occurs “YOU ARE IN CONTROL”. I’ve done this on different ocassions and it works ever so well. Not only have they reduced the interest rate they upped the credit limit. When you tell them you are going to cancel the card its only then will they become cooperative. Because they don’t want you going to the competition. Just remember with a larger credit limit you have to be more responsible with it. Do not use more than 33% of the credit line. This will also cause your credit score to rise. In effect lenders will look at it as you are a good risk. This means lower interest rates on any loan or credit card. Hope I said this clear enough. I tend to ramble.
I really appreciate the review you gave on this book, I will purchase a book because of your passing grade. Identity Theft (the 2 magic words) has probably been played out since KT’s book infomercial but if it works I’m game.
I have been doing great without a credit card, I’ve been saving and only use 1 debit card so the interest rate will not be an issue.
The rest of the book sounds interesting grants for small business start ups and 401k programs are the way to go.
Don’t try to live beyond your means.
I would like to know how much help this book will be for people who are already so far in debt that they are in collections with most of their debt. Does this book speak enough to that to make it worth it? Our credit score is tanked.
Hello Danielle,
Thank you for your comments. Yes, he does talk about people in collections and how you can deal with debt collectors.
You can read all my reviews here:
http://www.debtcuresreviews.com/about/
And I’d recommend buying it on eBay to save money:
http://www.debtcuresreviews.com/buy-debt-cures-on-ebay/
Thanks and have a great day!
-Adam
http://www.debtcuresreviews.com/
Adam,
You are doing a great job informing consumers. Keep it up. One suggestion that I wish could be relayed to everyone tempted to order ANYTHING from an infomercial is NOT to use your usual credit or debit card. Many stores (Wal-Mart, Walgreens, etc) offer reloadable PREPAID DEBIT CARDS. I know the Walgreens one costs $9.95 to initially activate, but it could be the best $9.95 ever spent, to a consumer who gets billed more than they expected. First, find out exactly how much the purchase price plus shipping, etc should be. Then, purchase a PREPAID DEBIT CARD for that amount (maybe add a couple dollars to be on the safe side), and use it ONLY for that one purchase. If the infomercial people try to charge more than what you agreed to, that amount will be rejected and you will be charged nothing. If they try to charge more than what they say, you probably don’t want the item anymore anyway. If you get the item and everything is fine, and you want to continue to receive automatic shipments, updates, or newsletters, you can add more funds to that Prepaid Debit Card each month, but only an amount to cover what they say they will be charging you each month. If you find out you were ripped off, cancel that Prepaid Debit Card right away. If they try to add other charges down the road, they will be rejected because the card is no longer active, and all it cost you was $9.95. If you request a refund, these Prepaid Debit Cards work just like any other credit or debit card. You can dispute a transaction and refunds go back directly onto that card. I think the initial $9.95 is well worth not worrying about double checking your card balances every month to make sure it was not charged for something cancelled or not ordered in the first place, or for “computer errors” where they charge you $129 when it was suppose to be $29, and it takes 6 months for them to refund the overpayment. Hope you can pass this information along somehow. Thanks.
Hi, I’m reading your book and find it very, very interesting. I lost a home due to sub-prime loan, student loan that not my loan, and put it on my credit report and reporting my name for 16/20 years. Then, after callling, compainting to my sentor of the state, I rec’d a checks in the mail for a school, I never attend in 1987. One checkhwas for $7,000.00 and the other $103,00. They garnish my death pension check and place an offset without a court order from a judge.
This has cause myself financial and emotional hardships. I wish your check out the direct depost that money go through the wire by the bank and when customer use their account their fund are not depost on time, which is midnight? This also, happen may account with a gov’t checks. Please send a e-mail or write some information to help me on this matter. Thank you.