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.
“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.