One reader, NODebt, sent in a cliff notes version of his review of Debt Cures. This is suitable for anyone who does not want to read the 4 part review I did of the book. Thanks, NODebt.
Here is a short review of Debt Cures They Don’t Want You to Know About:
Personally I kind of like Kevin – think he does care about people but this book is a complete waste of money. I read the entire book in 1 hour because practically all of it is just stupid stories explaining the problem. We already KNOW the problem Kevin! This book might be good for young school-age kids but that’s it. Save your money.
Here’s the “secret” information offered in the book.
The banks are out to get you! No c$%p! We know they’re just a bunch of greedy b&*%$ds with the ethics of a sewer rat
Get a copy of your credit report free every year – of course.
Don’t admit to any debt.
Cry “Identity Theft” to erase charges (now be ethical)
Draft a financial statement showing you have negative equity (net worth) and cannot pay – show to creditors; they may make a deal.
Ask for a credit limit increase – Wow! pure genius!
Ask for a lower interest rate – Whoa! that’s crazy!
If your FICO score is less than 619 you are high risk. >= 661 is OK
Better your FICO score by asking a friend or relative with GOOD credit to simply add you to their card. Make sure that company reports you to the credit agencies – some don’t. Not a bad suggestion
Most states have a statute of limitations on debt after which it cannot be legally collected. Most states are 6 yrs, some as low as 3. Check this link:
Get a secured credit card (you borrow against your own money) duh!
Get a small installment loan and pay off – duh!
FREE money! Visit www.Grants.gov, www.fundsnetservices.com, www.foundationcenter.org, www.kn.paceball.com, www.sba.gov, www.womensbusinessgrants.com, www.fns,usda.gov/cnd/lunch (free school lunch), www.idanetwork.com (money matched savings for home, etc. sounds interesting), www.energystar.gov (tax credit)
There’s more stuff of course but that’s really about all you get for your $42.
Now go get out of debt and stay that way!
Thanks again NODebt.
Have a great day,