It would be nice to believe that there is some magic ‘cure’ to all our debt problems. Kevin Trudeau would like you to believe that in his latest book Debt Cures They Don’t Want You to Know About. In the first article in this series, I described what happened when I ordered Debt Cures online and my initial review of the first few chapters. In this article, I will continue my review of Mr. Trudeau’s latest book.
Picking up where we left off – chapter seven – a chapter that should have just been left out of the book entirely. It covers the basics of credit scoring and credit reporting. Chapter eight is similar, it tells you what goes into your credit report. You can go to the Fool, Bankrate or Yahoo Finance website or a host of many other sites and get this same information.
Debt Cures rehashes much of the same information already found in most debt, credit and finance books. Despite Kevin Trudeau’s claim that it is groundbreaking and never before been released secrets, you can find the same info by doing your own research online. So it all depends on how much you value your time. You can spend time searching for this same info or you can find it all in one resource such as Debt Cures. Having said that, he does adds some tips and 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 inaccuracies?
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.
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.
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.
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_ _ _ _. It is the fastest growing crime in America and affected 9.9 million Americans last year and cost them roughly $5 billion.
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 article covered the middle section of Debt Cures. In the third and final upcoming article, I will finish the review of the book and highlight Kevin’s tips for getting free money from the government, how to rebuild your credit, how to stop debt collectors, and how to build wealth. Stay tuned.
By: Adam Tijerina