Why I like Debt Cures

Hello-

This post will cover a few reasons why I like Debt Cures from the lovable Kevin Trudeau. (Before I forget, there are only a few days left to enter to win a free copy of Debt Cures. Click here for more info)

I keep seeing the infomercial late at night talking about how the banks and credit card companies are out there to ruin us and keep us in debt for the rest of our lives. This is true, they would love it if we stayed in debt and kept paying them interest charges every month along with a few $39 late fees and over the limit fees.

The credit card companies would also like it if we didn’t call them and asked for a lower interest rate or took advantage of a low rate balance transfer offer. The less we know about personal finance and how much things cost with all the interest charges the better the banks’ profits and the more debt we have.

One of the new reasons I like Kevin Trudeau’s latest book Debt Cures is because it gets us talking and credit cards and debt. It makes us more aware of the problems and how the odds are stacked against us when we get in debt. The book may not offer miracle cures to solve all your debt problems and no other debt book will be able to do that either but it does provide some valuable information to help you understand more about debt and ways to rid yourself of it.

The infomercials are on just about every night so anyone up late at night is going to see the commercial several times. It may just motivate you to call your credit card companies and ask them to lower your interest rate. And they just might. If they don’t want to reward you being a good customer then switch to a bank who will. There’s no need to pay 27% interest when you can get it at 13% or 9% or even lower.

Make the calls, write the letters, do the research and get your rates lowered.

If you have old debts, see if you can get some of them reduced or eliminated with the statute of limitations in your state.

You can read about some of Debt Cures’ other tips in my reviews of the book:

Kevin Trudeau’s Debt Cures Book Review Part 1

Kevin Trudeau’s Debt Cures Book Review Part 2

Debt Cures Review Part 3

Does Debt Cures provide a ‘cure’ for your debt problems?

You can also check out other debt related and personal finance books

Let me know your thoughts and comments about Debt Cures. Positive or negative, all are appreciated.

Thanks and have a great day!

-Adam

Debt Cures Reviews

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Do not buy Debt Cures until you read this

Hello-

Do not buy Debt Cures from Kevin Trudeau until you read this. In a previous post, I pointed out some of the positive features of the latest get out of debt book. This post will point out some of the negative features of Debt Cures They Don’t Want You to Know About.

Before I do that, I wanted to say thank you to all of you who continue to post your comments. Those are much appreciated. Keep sending them in.

One of the main issues with Debt Cures is the whole ordering process. You have to call a telemarketing company and order the book. The representatives you have to speak to are paid to try and sell you more items when you call to order. They are just doing their job. I have nothing against them. I actually used to do that a long time ago.

So the first point is that if you want to order the book, order it online at debtcures.com

You’ll have a much easier buying experience and you will be sure of what you are ordering. You won’t have to worry about any hidden charges on your credit card bill. Because I am assuming you are going to order this book with your credit card. Ordering a book on getting out of debt with a credit card. Kind of ironic isn’t it? Someone also pointed this out as well. Lol.

Now, let me post some negative comments about Debt Cures that ya’ll have sent in. (Yes, I’m from Texas and I say “ya’ll.”)

Mary K. Anderson, thank you for sending this in:

“…So far I am not impressed with the repetition of the credit card information in the book, it is nothing we have not heard over and over. I was hoping for a book of knowledge that would give me some new help with credit card grant info. Most people do not want to help when it come to cards with cash advances and that is my situation. At this point, I am most likely going to take advantage of the 30 day return policy, who needs two disc. I was not informed they they were going to be $39.90 on my account. Full disclose, Mr. Trudeau, I believe you need to teach your telemarketers the law. Good Morning America and other television stations that helped promote your book will not be happy to know what is going on with the sale of this book. They pride themselves on promoting quality products and not people trying to sell you everything but the kitchen sink when you call to order. Especially when they do not disclose the full price…The price is excessive and I would now have ordered one let alone two if they were not included in the book…”

Thank you again for sending this in.

Scott sent in several good comments about his review of Debt Cures. Thank you Scott. Let me share part of one with you:

“Almost finished reading the book. Only about 20 pages left. To anyone that plans to get it, read it or have read it, let me tell you. I had 6 cards that I went through settlements with. And my wife had a large balance on a card that she was trying to deal with. I’ve been through it and I knew a lot of this stuff in the book. Let me tell you, none of this stuff is guranteed. You are at the mercy of the card companies, depending on how much of a balance you have and how bad they want that money.

Most will not negotiate with you.

Call them to simply lower your interest rates? Ha! That’s a good one. It didn’t work for me. You have no leverage once you’re buried in debt. Why should they? You can’t apply for a new card to transfer the balance.

Wait for the statute of limitations to run out? I’m saying in this day and age, in most states, you can forget about that option. In Illinois, it runs out in 5 YEARS! That’s a long damn time. I got away with not paying for 2 years as I was saving for settlements on my cards….but barely 2 years. Almost 2 years to the date, my card with the highest balance proceeded to sue me and I got a summons to go to court. My wife on the other hand, WAS TRYING to work with Discover through credit counseling and was paying large amounts each month. They weren’t happy with this amount and flat out refused to take it. They wanted more and so they weren’t paid for 2 *MONTHS*, because they refused the amount she was paying!! Which was over 200 dollars!! The THIRD month we got a knock on the door. Guess what? Court papers from Discover’s attorneys. You’re going to court to get a judgment. Kevin seems to conveniently leave out what they will actually do and then what you’re supposed to do. Think they’re afraid of going to court because of attorney’s fees? Hell no! Because they can stick YOU with them! LOL!
Then, what if your family doesn’t have the money to bail you out or doesn’t want to add your name on their card?
The book does not ‘completely’ deal with reality, IMO. But it doesn’t hurt to try I guess.”

Thank you again Scott for your comments.

Jenny offered her comments on Debt Cures, she has inside experience because she works for one of the telemarketing companies. She offers a few tips on dealing with KT. Thank you Jenny:

“As a current employee of a call center that takes calls for all of KTs products, believe me when I say most of us HATE taking his calls. The upsells are overboard and all his information you can find free on the internet. Or better yet, get it cheaper off of amazon or free from the library. He’s a crook and is being investigated by some states. He’s only out to get your money.

If you do decided to call and order, simply state “If you offer me anything else, I will cancel” Those are the magic words to get to the end of the call. That also goes with anything you buy from a commercial.”

The book is not available at Amazon yet but KT tells us that it will be. Thank you again Jenny.

I’ll end this post with one last word of warning from Sam. Thank you Sam for sending this in.

“WARNING!!!!!! This is a red flag! I ordered Trudeau’s Debt Cures in order to help get my life back on top and guess what? It didn’t work! Some of the stuff in the book, like getting that $10,000 dollars overnight- you are borrowing it from yourself IF you have stocks. There was only one good thing I learned from that book and it was the amount of time that the average person doesn’t know about write offs for debts ; ie after 4 years in California they write off the amount on whatever (Credit cards, etc.). I went to return the book and they sit on their butts and don’t get the refund to you when it is due! I waited two- three weeks for my refund to show up and it was only when i called that they refunded the amount and then i had to wait an ADDITIONAL three business days! In all honesty this confirmed my thoughts on paid programming; IT’S ALL A SCAM. Don’t buy this book, if you do a little research you can find out everything yourself.”

Thank you again Sam.

So after reading all these comments, should you buy Debt Cures? I have and have not regretted my purchase. It has some merit and is worth taking a look at even if you have to go through the hassle of ordering it over the phone.

Here’s another reason why I would still recommend it:

“Kevin:

My wife purchased your book Debt Cures last month, and she wanted me to read it to see what we could do about our overwhelming credit card bills. I found the chapter that told us how we can talk to the companies and “ask” to lower the interest (apr) on the cards. Well it worked. Bank of America had a rate of 29.75 percent and they lowered it to 5.75% for 5 years. We also lowered the rates on 3 other cards we have….much lower than what we expected. Thank you “Debt Cures.”
It sure made Momma feel good…and me too!

Vendel & Gwen Jeffries”

That one phone call will save the Jeffries several thousand dollars in interest alone – all from buying KT’s book.

Thank you all for sending in your comments and reviews of Debt Cures. Keep them coming.

Have a great day!

-Adam

Debt Cures Reviews

Recommended Resources:

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

Recommended Resources:

Does Debt Cures provide a ‘cure’ for your debt problems?

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

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