Questions and answers about Debt Cures

Hello all-

Thank you everyone who keeps posting their thoughts and comments about Debt Cures. I am going to try and answer some of the questions or point you in the direction of where to get the answers.

Katherine asked: “Can anyone tell me where and how to receive free grants from the government for real estate investing or for personal use, for paying off my debts. I hear alot of people say they get free grants, but how does one go about finding the right one? How to you fill out the forms?”

Thank you for your question Katherine. I posted about getting the free grant money here and here. Grants.gov is going to be your free resource for all you need to know about grants. It is going to take a lot of work to get a grant. But the money is there.

Brandi writes… the two “magic words” are IDENTITY THEFT.

Yes, the 2 magic words are identity theft. This is the fastest growing crime in America. This can ruin your credit faster than you can do by yourself. You do not want to be a victim of identity theft. So by Kevin Trudeau hyping these two words up in the infomercial, it gets your attention. This is where credit monitoring can help you. Or a company like LifeLock.

Tiffani posted a good comment about getting out of debt. Thank you Tiffani. Now, I want to offer my opinion about one of your statements, “Kevin is just plain wrong. For most of us we are in over our head so far that it is not feasible to put 10% in savings and then pay creditors. There isn’t enough money to do both.”

The idea is not to put 10% in your savings. Ideally, you want to put it in an investment account or a 401k at work. If you put it in your savings, it will not grow. If you put it in stocks and other investments, it will grow much more than in a regular savings account. When you have it come of your paycheck automatically, it comes out pretax so the actual effect on your paycheck is minimal.

If all you worry about is paying your current bills, then what and when will you start to save for your retirement or for your kids’ college expenses? Start small. Have 2-3% or so taken out for a 401k plan and then see how much it affects your paycheck. Then increase it incrementally up to that magical 10% amount.

You also want to do this to take advantage of any company matches to your retirement account.

Renee asked a couple of questions about lowering your credit card interest rates. Thank you Renee.

“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.”

Tell them to lower your rate! And then tell them again! Point out that you are a good customer, point out that you have made all your payments on time, point out all the other better offers you have received lately in the mail and ask if they can match it. If they do not respond to your first request, hang up and call back again and again. KT says to call back until they do what you want them to do. You can threaten them to take your business to another company if they do not lower your rate. Basically, you have to be persistent about asking them to lower your rate. Thank you Renee. Hope that helps.

Leah asks:

“I just have one question though, in the infomercial 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.”

Thank you Leah. He does not give the specifics about how to do this in Debt Cures. He mentions it on the Bonus CD. But still does not give the step by step process. But, I did find some resources to get more information as I was also interested in getting business credit. Here’s one and two.

One last question for this post and it’s from Quentin. Thank you Quentin.

“Can You really get money in 24 hours like 10000 dollars is it true?”

Yes, you can as long as you have rich friends. He says do whatever you can to borrow money. Friends and family usually charge cheaper interest rates than a bank will. He also suggests borrowing from your home equity which many people already do.

That’ll be the end for this post. I will try and post more questions about Debt Cures so keep sending them in.

Thanks,

Adam

Debt Cures Reviews

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Debt Cures Review Part 3

Hello-

Here is the next part of my review on Debt Cures. You can read parts one and two. Last time we left off on chapter 14. The basic premise of chapter 14 is eliminate debt, negotiate your debt down and cut your rates – do whatever you can to avoid bankruptcy. He says filing bankruptcy is not the answer to all your financial debt problems that many make it out to be.

Chapter 15 and 16 are about big business, namely the credit card and lending industries. These chapters repeat much of what was said in the beginning chapters. Several visitors have commented on this same thing throughout the book. I do not understand the need to include more ranting and raving about how predatory the credit card companies can be when they get their hands on you and add on fee after fee after fee. You, Kevin Trudeau, did plenty of this in the beginning chapters of the book.

Some new material is about filing complaints against the credit card companies with your attorney general and your elected officials to try and stop some of the outlandish fees and interest rates the banks make you pay.

He also mentions how the banks prey on college students and immigrants, handing out credit cards like candy to get them in their financial traps and strap them down with huge amounts of debt when they graduate. This sets them up for a lifetime of financial hardships.

Moving on…

Chapter 17 contains an excerpt of an interview with a credit card company executive. It also 4 action steps for you that can save you thousands on interest and several success stories of people who have used the Debt Cures methods to lower their debt loads.

If you follow the steps and do what Trudeau tells you to do, you can get on the road to debt recovery and you will have more than paid for the cost of the book and Kevin can gain some much needed positive points.

Chapter 18 shows you an illustration of how much a higher credit card interest rate can cost you and how much you can save by asking for and getting a lower interest rate on your credit cards.

Chapter 19 – how to stop debt collectors cold. This sounds like it should be a good chapter for many people struggling with debt collectors. It starts off outlining the Fair Debt Collection Practices Act. He offers tips on how to deal with debt collectors. He talks about the ruthless tactics they use to get you to pay up and how they often do not comply with the FDCPA. He describes what to do when the debt collectors call and how to respond to their threats.

This can be a helpful chapter for someone who is facing collections and wants to stop getting harassed by debt collectors.

One thing I found funny about the end of this chapter is when Trudeau says that “If they (the consumer lending industry) continue to keep up with the outrageous methods of pinching every last penny out of the American consumer, then I will continue to expose them for what they are.” Kevin Trudeau, you tried to pinch me and any one who orders Debt Cures for quite a few pennies.

Chapter 20 is about achieving wealth. Kevin says that the debt problem is not caused by the spending habits of the American public but rather the aggressive practices of the American consumer lending industry. I disagree. Our society is all spend, spend, spend. Our national savings rate is now negative, meaning we spend more than we save. Most people have very little saved for retirement. How can our economy be kept afloat by consumer spending if we are not spending money? By saying this Kevin is saying we have no responsibility for the situation we are in. And I do not think that is true.

I would say it is a combination of our spending habits and the credit card companies more than willing to offer us more and more credit. It’s when we stumble that they pounce on us with all their fees and kick us when we’re down.

Kevin repeats himself again instead of giving tips for creating wealth. Good thing he included his 25 secrets to wealth creation CD.

Reading this chapter is basically a summary of the previous chapters. It quickly outlines the steps you can take to get out of debt.

So the conclusion you can take is that once you are out of debt, you can start saving money, start investing, start a business, start saving for your kid’s college, and saving for your retirement.

Ok, I wanted to finish this Debt Cures review in this post but it has gone on quite long and it’s time to put the kids to bed. I will continue it in the next post. We’re on chapter 21 and there’s only 4 chapters left.

Overall, I am giving “Debt Cures They Don’t Want You to Know About” a passing grade. It has few links pitching other products of his as was the case in his previous cures books. It barely mentions his credit newsletter. Granted, it does have information you can find elsewhere. But, it does offer Kevin’s own spin on them with some useful tips for someone who wants to get rid of the debt problems.

Until next time. Have a great day,

Adam

Debt Cures Reviews

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A bad experience with Debt Cures

Hello-

Debra sent in a comment about her experience with Debt Cures. It might be best to wait until the book comes out on Amazon or at your local bookstore instead of having to deal with the ordering process from Kevin Trudeau’s order taking service.

Thanks Debra for sharing.

Here is her experience:

“Adam

I have to tell you … I just watched the infomercial and decided I would order the book out of curiosity more than anything else and of course I was truly hoping that there is morsel of value and truth in what Kevin Trudeau is trying to sell the masses. I wasn’t surprised that the marketer/operator (KIM) was going to attempt to have me purchase much more than what I wanted (the book only), but after saying no twice she still continued… I became quite frustrated and said that I wanted to cancel the order. She then informed me that she just had to mention one more offer and then she could complete my order and that offer was to sell me the newsletter for $9.99. I said no again and she said that she would now send me the newsletter free and if I decided that I didn’t want to receive it monthly I could call and cancel it at anytime, which says to me that I will automatically be charged $9.99 a month unless I cancel. NOW not only I am totally against ordering I am FURIOUS and told her to cancel my order immediately She said she would … I waited a minute and asked her did she cancel my order and she told me that she could not. The computer wouldn’t allow her to. I asked to speak to a supervisor and she said “there isn’t one here”. I was LIVID. I asked her how this was any different than the very thing Kevin was talking about. I was being ripped offed. In the end I had only been on the phone 10 minutes, and canceled my order and was told it was irreversible unless I called their 800 number the next day.

All I can say is WATCH OUT PEOPLE! Although there may be a glimmer of value in what Mr. Trudeau is trying to put out there. I am not totally convinced that you couldn’t get some of the information by going to your local bookstore or go online to find how to get free grants and much more including the “so called secrets”. I think the method of marketing is designed in hope that innocent consumers will not realize that they will be continually charged and Mr. Trudeau will benefit until they catch on. This makes him no different that some of the very devious Credit card companies and banks that he fervently speaks out against albeit I agree with some of what he is saying. Something is so disturbing about this. Kevin’s shining armor is tarnished in my eyes!”

Thank you again Debra for sharing your Debt Cures experience.

If anyone else has a review they want to share, you can send it in as a comment or you can email me: debtcure at debtcuresreviews dot com

Thanks,

Adam

Debt Cures Reviews

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Kevin Trudeau’s Debt Cures Book Review Part 2

Hello-

Back with the second part of my review of Debt Cures They Don’t Want You to Know About. You can read the first part of the review here.

Last time I left off on chapter six so we’ll start on chapter seven, but then chapter seven should have just been left out of the book entirely. It covers the basics of credit scoring and credit reporting. You can go to fool.com, bankrate.com, finance.yahoo.com or a host of many other sites and get this same information.

Chapter eight – What is in your credit report? It’s a good thing this chapter is only seven pages because it can be grouped in the same category as chapter seven. Do a search on your favorite search engine and get the same information.

This is a recurring theme throughout the book. But then not every book has original, ground breaking information – especially debt and finance books. Each author has their different ways of saying essentially the same thing. They may add their little tips or tricks and if you use just one of those tips then the book will have paid for itself in spades.

And when it comes to credit card debt and curing our debt problems, when the amounts of money involved can be quite substantial, using one of these tips can potentially save you thousands of dollars. The only question is are you willing to put in the work to get it done and make it happen? Are you going to make the calls to your credit card companies and ask them to lower your interest rate? Are you going to order your credit reports and credit scores and dispute the inaccurate data?
So no matter which financial book you read, if you do nothing and do not take action, you cannot call any book a scam. Even if it comes from Kevin Trudeau.

Getting off my soapbox now…

If you do not know the basics of credit scoring and credit reporting then you will find this book useful. It is all organized and explained in easy to understand terms. Kevin does offer several examples that you can follow along with.

If you do not know the difference between a hard and soft inquiry on your credit report then you will get more than enough out of this book to justify its cost.

Moving on to chapter nine and ten. These chapters continue on with getting copies of your credit reports and credit scores and getting rid of errors. Once you fix the errors in your credit report, your credit score will go up and you will save money on any loan you take out – home, auto, refinance, etc.

You can get your free credit report and free credit scores here. This is a free trial offer for credit monitoring. If you do not cancel, you will be charged a monthly fee. But this is the only way I know of to get your credit scores for free. You can get your credit reports for free at annualcreditreport.com. You have to pay extra if you want your credit scores from Annual Credit Report. You can get your free credit scores and credit reports free here.

He also recommends monitoring your credit report. This will protect you from identity thieves and make sure no new surprises appear on your credit report the next time you check it.

He has a site recommendation on his Debt Cures site but the link is currently not working.

Chapter 11 offers tips for improving your credit score overnight. One of his tips include boosting your credit score by using less of your available credit on each credit card. He recommends you only use 35% of your available credit on each card you have. Using more than this will lower your score.

One tip from chapter 11 offers a strategy to eliminate negative items on your credit report. This tip has about a 50% chance of succeeding when dealing with debt collectors and erasing negative items off your credit report. If this one tip works then you’ll have easily paid for the cost of Debt Cures several times over.

Chapter 12 is only six pages long but it contains the 2 magic words that several people have asked about. I have a feeling that you may be disappointed about what the 2 words are. But then again, if you know someone who has been affected by this then you’ll understand why Kevin hyped these two words up so much. There are few things that can ruin a credit report and credit score faster and wreck havoc on your life than these 2 words.

Kevin recommends checking your credit report and monitoring your credit to protect yourself from I_ _ _ _ _ _ _ T_ _ _ _. (Those are the 2 magic words that can help your credit) It is the fastest growing crime in America and affected 9.9 million Americans last year and cost them roughly $5 billion. Protect yourself from the fastest growing crime in America.

Chapter 13 covers cutting your mortgage loan payments down. Money saved is the same as money earned. Kevin offers tips on getting rid of your PMI, making biweekly payments and refinancing your variable rate mortgage for a fixed rate now that interest rates have gone up.

Rising interest rates is a recent topic so Kevin Trudeau including it in this book is a timely addition. He offers a few tips on dealing with lenders who do not want to be flexible with you.

If you need to refinance your variable loan to a fixed loan, do it and save money each month on your payments.

This post has gotten quite long so we will continue this in another post.

-Adam

Debt Cures Reviews

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