Debt Cures

Debt Cures Book Review - Is Kevin Trudeau’s Latest Book A Scam? Part 3

Millions of people who are in debt are desperate to get out of debt. They want to cling to hopes and dreams that finance authors are willing to sell them. Kevin Trudeau, a salesman with a checkered past, has released a book called Debt Cures. This article will continue my Debt Cures Review series.

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. So do what you can to avoid filing for bankruptcy.

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 readers have commented on this same thing throughout the book.

Chapter 17 contains an excerpt of an interview with a credit card company executive. It also offers 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.

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. In the last upcoming article in this series, I will finish the rest of the book and give my final review.

Read more about Debt Cures and find out if Kevin Trudeau’s cures work for people looking for a way out of debt.