Debt Settlement Debt Cures They Don’t Want You to Know About: A Book by Kevin Trudeau | Debt Cures They Don’t Want You to Know About: A Book by Kevin Trudeau |
The description of this book leads you to think you’re going to learn some secrets to the credit card industry that can help you get out of debt faster, or “cure” your debt problems. The book has been heavily promoted by Trudeau and his team, including infomercials and internet marketing. While this book (and several others on the same topic) have sold millions of copies, the reviews the book receives are unfavorable to say the least. Most reviews by consumers who have purchased and read this book all indicate that the book has a handful of tips that may help you if you have lived under a rock and do not understand the basics of how credit cards work, and that those same tips are repeated numerous times throughout the pages of the book. In other words, the credit card industry makes a lot of money off interest and fees is the basic premise of the book and every chapter seems to focus on that same statement. That’s not a debt cure, that’s a fact people have understood about credit cards for decades – and they probably don’t need an entire book to remind them of that fact. In an interesting review of the book from a reader on Amazon, the reader states: “In chapter four I believe Mr. Trudeau is asking us to commit fraud. He suggests that when our debt gets near the Statute of Limitation, to tell the debt collector that you do not owe anything. It magically disappears. Well it doesn’t because 1.) You still used the card and owe the debt and 2.) The creditor can still sue you and a judge will not care if it out time or not. There is more then one case on this. This is fraud isn’t it?”The book does give some suggestions for consumers with credit card debt to call and negotiate the debt with the creditors. Just because you try to negotiate lower repayment terms or less interest does not mean that the creditors will agree; and it’s not really a “cure” that people don’t know about either. It’s the same information you can read on thousands of personal finance sites about getting out of debt (and that you can read about for free). Readers indicate that chapters 8 through 10 of the book pretty much contain the same information just worded in a different way for each chapter. It talks about getting your credit report and checking for errors. Again, this is useful information but something everyone either already knows – or could find out for free just by looking around at finance websites. In another review from a reader of the book, printed on Amazon, the reader states: “Chapter twelve is about saying the two magic words to get credit card companies to give you some slack. I can’t believe Mr. Trudeau suggest telling your debt collectors that you were a victim of “Identity Theft”. This ruins everything for those of us who were actually victims. Can you cry “Wolf?” Or the debt is not yours.”The common consensus for this book among people who have purchased and read it is that it’s a complete waste of time and money. Related Articles: |
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