Customer Reviews

Debt Cures "They" Don't Want You to Know About

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Wow what can I say except I have never read anything quite like Debt Cures before in my life! It was a total surprise. I can't believe this got published. Is this a 2nd grader writing a composition for a teacher who wanted information about clearing up credit card debt? Instead, out of protest he writes a book of twenty-four chapters of mostly repeat information. About sixty percent of the book is repeated over and over. What are usable lies in about thirty pages of this three hundred page book which can be found in other sources.

And where should we start? First let me tell you about my expectation based on the infomercial and the title so you can gain a perspective of where I am coming from. The title Debt Cures should suggest that Mr. Trudeau will suggest the causes of your debt, ways to reduce or eliminate your debt, give a practical resource on getting into a specific plan to eliminate your debt and create wealth (see his cover and infomercials). It is not hard to expect these from an author toting that you can eliminate your debt. Isn't it?

Well what can I say, chapter one starts out by slandering the credit card companies and their high runaway fees. Well this has been common knowledge since the 1980's. This is when the credit card companies realized that they could add fees on your amounts in addition to interest and most people did not know. I can understand his point that credit card companies use deceptive practice, so people can not understand how their balance triples within six month. His false statement through me in the first chapter because he states "you debt problems are not your fault, but the credit card company" makes me see stars. `Hey Mr. Credit Card Company thanks for twisting my arm. By the way, that means I do not have to pay.' Well debt is at least partly your fault (80%). The high fees and interest (10%) are not and the economic factors (10%) aren't, but eighty percent of it is still your fault. Shifting the blame does not solve the problem.

The reminder of the first chapter is a self advertisement and a statement that he doesn't want to make any money, just information. Do you believe that, I have a bridge in Brooklyn to sell you, it's cheap?

Well I am dumb founded over chapters two and three because they repeat the same central theme as the first chapter Banks bad, government bad, down with the fees consumer good. Hey aren't banks in business to ah... make money? Why do I need this repeat more than once? Couldn't this have been combined in chapter one.

That would have been two chapters shaved and about 20 pages.

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?

In chapter five he suggests to negotiate with your creditors to reduce your debt. This is suggesting that the debt holder will do it. From experience, they wont. If they do, you still have to find the money to pay them off.

Mr. Trudeau does give some valuable information on your balance sheet (Net Worth) and your income statement (Cash Flow Statement) and what they are. He never explains what the importances of them are and why he mentions them. The rest of the book ignores these statements as a passing movement.

In chapter six, he suggests to call the credit card company to cut your interest rate and fees. This is good advice if the interest rate and fees are causing you to not pay and be late. This is what your income statement and net worth are for.

Chapter seven is the chapter on fighting back. It never really state how to fight back (it gives a lot of already written clichés). The chapter is mostly unsubstantiated stories of how some people fought back. I doubt these would work also because the credit card companies are not dumb.

Finally in chapter eight we get some useful information (though little). Here Mr. Trudeau explains your credit file and how to get it or at least the nuts and bolts. He gives correct information, but offers very little advice on how to correct problems and increase you credit rating. He advises you to get your credit report and checking thoroughly and often. Well Duh do I need one line at $39.95 plus shipping to tell me that?!

Again chapter nine is a continuation of chapter eight (which could have been combined) where Mr. Trudeau explains your FICO score and how to increase it. This is common sense; pay on time and keep balance low, duh! This is the first time he suggest going to a monitoring service (preferably debtcure.com) that will monitor your credit file for you at a price. One a year is fine unless you have problems. Then pay for it as you are clearing up your credit.

Chapter ten is yet another continuation of chapter eight and along with chapter nine should have been combined and condensed into chapter eight. He further explains your credit score and how high balances reduce your rating and low balance and timely payment help you increase your score (Well Duh , again)

That another two more chapters to be cut and about 25 pages saved off. Wow the book is getting lighter.

Chapter eleven is completely useless because suggest monitoring your credit rating, but there is no support or explanation on how to do it. Why was this on there to begin with?

Some easy strategies 7 in all (finally we are getting some where, nope). These are al common sense:

1. Pay on time (duh)
2. Pay More (again, duh)
3. Don't skip (you need some one to tell you this)
4. Don't close (I admit, most people don't know this one)
5. Stay Low; as in balance (Ok again, some people may not know this. Sometimes it is unavoidable though)
6. Don't Go Crazy; as in applying for credit (this is a strategy?)
7. Avoid inquiries (Ok again, some people may not know this. Sometimes it is unavoidable though when creditor are looking into to it get you that better rate)

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 (see chapter four here).

Half way through and most can be deleted as wrong, miss leading or useless information.

He talks about you home in chapter thirteen. Did I miss something, did we finish the debt issue. How do I get out of debt? All we get is how to avoid it and ask to reduce it. Again he talk about FICO and how you interest rate is based on the information in your credit file. He suggests to get rid of you PMI (Private Mortgage Insurance), let me see about thirty real estate books suggested it in the past 28 years.

Chapter Fourteen suggest you do not file for bankruptcy unless you have to, which is what I agree with. This is also the shortest chapter.

Here we go again, chapter fifteen is a flash back from chapter one. Big bad credit card company is stealing from the consumer and it is all a business. I got it already. He gives information on who to contact if they violate the laws. I think you can figure it out or go online to check.

Well chapter sixteen is another flash back to chapter on so I will not comment.

Again chapter seventeen is another flash back to chapter on so I will not comment.

Chapter fifteen, chapter sixteen and chapter seventeen should be combined into chapter one, shaving off three more chapters and 34 pages.

Chapter eighteen and nineteen repeat many of the themes in the rest of the book and he tries to convince to stop collection agencies in there tracts. He suggests keeping a journal when a collection agent calls and document them. Any Judge show should teach you this. Also isn't this common sense?

Chapter Twenty is the achieving wealth chapter which tells you nothing. This chapter is another waist of paper.

Chapter twenty-one and twenty two is about rebuilding credit. The only suggestion that I agree with here is to get a secured card, preferably where you bank already. The other advice; Asking friends and relative to allow you piggy back on their credit, co-sign loans, and taking installment loans are unwise. His rational is unclear and these should not be done anyway. If you piggyback, you guaranteeing to your relative's card company that you will make payment if you relative default for any reason. This and co-signing is never a good idea.

Chapter twenty-two suggests starting a business to get credit. Good if you have a legitimate business and the IRS is your side. For the IRS you would have to make a profit 3 out of the next five years you loose the tax benefits. Doesn't just start a business to increase you credit rating do it because it fills a need.

Chapter twenty-three can be found on line and through Matthew Lesco's books because Mr. Trudeau tells you how to get free money for you business or credit problems. No news here and most of his suggestions can be found online saving you the $39.95 plus shipping charges.

The last chapter has nothing useful.

Let's add up the usefulness of this book to the consumer. First it never gave the specifics I discussed in the second paragraph. The information was vague and sent you to a lot of other sources while other books were clear. Adding up the useless chapters and pages, here are the true number; 10 chapters should have been completely removed for vagueness and useless information representing 184 pages. That's 61% of the book that could have save trees.

If you want alarmist information and everyone other then you is bad, then this is for you.

If you want real information, save you money, there are plenty of books that legitimately help reduce and eliminate debt and help your wealth grow. Read Make Your Paycheck Last by Howard Moe, The Cheapskate monthly, Nolo Press' books on Bankruptcy and credit repair, and dozens of other books. The cost of these books combined should equal to less then the price of Mr. Trudeau' book. Stay away!!!

enjoy

Update 1/13/ 2009

After my reading of this book, I have come across a book that could help you get of debt if you have it is practical. Some situations can not be solved with a magic formula or a book, in most instance debt is one of them.

Since the undertaking of this book, I have come across two books worth while.

1. Financial Pease by David Ramsey
2. Total Money Makeover also by David Ramsey.

Since reading these books, I have become debt free before the credit crisis and I have started my emergency fund. He seems to be the only one who address both issues.

Jay

There is one, and only one, CURE for bad credit: Stop abusing credit! To call anything else a "cure" is false and misleading. In order to cure something, you have to stop the behavior that caused it.

That being said, "Debt Cures" by Kevin Trudeau is basically useless. Sure, a couple of his ideas have probably helped a couple of people...like the ones who have spent their lives living under a rock. For the rest of us, don't waste your money.

The useful information contained in this book makes up about 1% of the book. All of it is accessible through much more reputable and reliable sources. The rest of the book is fluff, designed to play upon people's emotions, full of hyperbole and heaped with cliche'. There are exclamation points everywhere (!). On almost every page!!! In fact usually several per page!!!!!!!! [Get my drift?]

There are 3 points he offers, and this is where the marginally useful info comes in...for some of us...some of the time: 1) Negotiate directly with your creditors; 2) Keep on top of your credit reports; and 3) Refinance your home if possible, to get a better rate and/or term. He repeats these things over and over (and over and over and over...) again throughout the book. Problem is, all of these points should be common sense to anyone with, um, a wallet. And a brain. Even if one or both of those two things is small.

The rest of the book is bent on convincing the reader that the financial industry is a bunch of scum-sucking leeches. Like, DUH.

You gotta give this guy credit for one thing: HE followed his own advice. HE saw a need (people drowning in debt in record numbers) and attempted to fill it (by selling them half-baked "cures" -- snake oil, anyone?? -- to help themselves). In the process he made himself a multimillionaire. Unfortunately this makes him no better than those other scum-sucking leeches, preying on people's vulnerability and ignorance. Good work, dude. I'm glad I didn't pay for this book -- I read someone else's copy out of sheer disbelief that Trudeau got this thing published.

Don't be so gullible as to buy this nonsense!

It is just shameful the way this "so called author" tries to get you to buy his books. This book is such a waste and please save your money. I can tell you right now that everything in that book is basic information that you can get for free on the web. There is nothing useful, original or surprising in this book. If you want sound financial advice please do your research and stay away from this guy. Suze Orman has a great selection of books with real advice. This was a real waste of money.

I'm about 90% through this book and it disbelief that I even keep reading it. I am truly amazed this guy is a best selling author. Well over 200 pages into the book- it's like he is still trying to sell you on the book. Listen jack***- I already bought your stupid book! There is no real content, nothing you haven't heard before. It reads very much like an infomercial sales pitch, or one of those junk mail flyers for the next consumer reports book- with a blurb about what miracle you are going to discover on page 72.

A couple hundred pages into the book, he is still telling you what he is going to tell you later. Yet it never really gets to any actual content. It's all fluff and endless self praise. I think Kevin T really thinks he is the second coming. Every page is full of empty empowerment phrases and announcements from your instant freedom from bondage now that you know his secret debt cure. (like call and ask if you can pay $2,000 instead of $30,000) I'm not sure if there a single paragraph in book that doesn't end with one of these "you are now released from enslavement for eternity and can commence to extreme wealth, thanks to me and my wonderful book" type phrases- followed by several exclamation points!!!

There was no need to kill this many trees. The book could be shortened to about 9 pages of actual content. This would include the front and back covers, publishing info,dedication, title page, chapter list, and index too.

Take the money you would of spent on this book, and apply it to your credit card with the highest interest rate.

Beware of magical claims allowing you to repair your credit, eliminate your credit card debt, pay off your mortgage 20 years early (without any extra cash), or any other scheme that can perform magic for your financial situation. I will provide these tips for free. If you pay more than the minimum payments on your credit cards and do not buy any more items with those credit cards you will eventually eliminate your debt. Paying your mortgage prior to the due date each month and paying about 10% more will pay off your mortgage early. If you want to repair your credit be responsible, do not pay late, pay more than the monthly minimum, and do not maintain high credit card balances (about 30% of your total available credit or less is a good number). Also, request your credit report, challenge any incorrect items, and pay off any items that you can. Also, using credit responsibly will go a long way to rebuilding damaged credit or establishing new credit. And the easiest thing you can do that will help your financial situation is DO NOT WASTE YOUR MONEY ON KEVIN TRUDEAU'S BOOK. Google search his name and you will be surprised at the large amount of legal actions and complaints against him. Use the money you would have spent on his book and order up a credit report, or if you have not requested one this year, you are entitled to a free report from each credit agency.

Wow what can I say except I have never read anything quite like Debt Cures before in my life! It was a total surprise. I can't believe this got published. Is this a 2nd grader writing a composition for a teacher who wanted information about clearing up credit card debt? Instead, out of protest he writes a book of twenty-four chapters of mostly repeat information. About sixty percent of the book is repeated over and over. What are usable lies in about thirty pages of this three hundred page book which can be found in other sources.

And where should we start? First let me tell you about my expectation based on the infomercial and the title so you can gain a perspective of where I am coming from. The title Debt Cures should suggest that Mr. Trudeau will suggest the causes of your debt, ways to reduce or eliminate your debt, give a practical resource on getting into a specific plan to eliminate your debt and create wealth (see his cover and infomercials). It is not hard to expect these from an author toting that you can eliminate your debt. Isn't it?

Well what can I say, chapter one starts out by slandering the credit card companies and their high runaway fees. Well this has been common knowledge since the 1980's. This is when the credit card companies realized that they could add fees on your amounts in addition to interest and most people did not know. I can understand his point that credit card companies use deceptive practice, so people can not understand how their balance triples within six month. His false statement through me in the first chapter because he states "you debt problems are not your fault, but the credit card company" makes me see stars. `Hey Mr. Credit Card Company thanks for twisting my arm. By the way, that means I do not have to pay.' Well debt is at least partly your fault (80%). The high fees and interest (10%) are not and the economic factors (10%) aren't, but eighty percent of it is still your fault. Shifting the blame does not solve the problem.

The reminder of the first chapter is a self advertisement and a statement that he doesn't want to make any money, just information. Do you believe that, I have a bridge in Brooklyn to sell you, it's cheap?

Well I am dumb founded over chapters two and three because they repeat the same central theme as the first chapter Banks bad, government bad, down with the fees consumer good. Hey aren't banks in business to ah... make money? Why do I need this repeat more than once? Couldn't this have been combined in chapter one.

That would have been two chapters shaved and about 20 pages.

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?

In chapter five he suggests to negotiate with your creditors to reduce your debt. This is suggesting that the debt holder will do it. From experience, they wont. If they do, you still have to find the money to pay them off.

Mr. Trudeau does give some valuable information on your balance sheet (Net Worth) and your income statement (Cash Flow Statement) and what they are. He never explains what the importances of them are and why he mentions them. The rest of the book ignores these statements as a passing movement.

In chapter six, he suggests to call the credit card company to cut your interest rate and fees. This is good advice if the interest rate and fees are causing you to not pay and be late. This is what your income statement and net worth are for.

Chapter seven is the chapter on fighting back. It never really state how to fight back (it gives a lot of already written clichés). The chapter is mostly unsubstantiated stories of how some people fought back. I doubt these would work also because the credit card companies are not dumb.

Finally in chapter eight we get some useful information (though little). Here Mr. Trudeau explains your credit file and how to get it or at least the nuts and bolts. He gives correct information, but offers very little advice on how to correct problems and increase you credit rating. He advises you to get your credit report and checking thoroughly and often. Well Duh do I need one line at $39.95 plus shipping to tell me that?!

Again chapter nine is a continuation of chapter eight (which could have been combined) where Mr. Trudeau explains your FICO score and how to increase it. This is common sense; pay on time and keep balance low, duh! This is the first time he suggest going to a monitoring service (preferably debtcure.com) that will monitor your credit file for you at a price. One a year is fine unless you have problems. Then pay for it as you are clearing up your credit.

Chapter ten is yet another continuation of chapter eight and along with chapter nine should have been combined and condensed into chapter eight. He further explains your credit score and how high balances reduce your rating and low balance and timely payment help you increase your score (Well Duh , again)

That another two more chapters to be cut and about 25 pages saved off. Wow the book is getting lighter.

Chapter eleven is completely useless because suggest monitoring your credit rating, but there is no support or explanation on how to do it. Why was this on there to begin with?

Some easy strategies 7 in all (finally we are getting some where, nope). These are al common sense:

1. Pay on time (duh)
2. Pay More (again, duh)
3. Don't skip (you need some one to tell you this)
4. Don't close (I admit, most people don't know this one)
5. Stay Low; as in balance (Ok again, some people may not know this. Sometimes it is unavoidable though)
6. Don't Go Crazy; as in applying for credit (this is a strategy?)
7. Avoid inquiries (Ok again, some people may not know this. Sometimes it is unavoidable though when creditor are looking into to it get you that better rate)

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 (see chapter four here).

Half way through and most can be deleted as wrong, miss leading or useless information.

He talks about you home in chapter thirteen. Did I miss something, did we finish the debt issue. How do I get out of debt? All we get is how to avoid it and ask to reduce it. Again he talk about FICO and how you interest rate is based on the information in your credit file. He suggests to get rid of you PMI (Private Mortgage Insurance), let me see about thirty real estate books suggested it in the past 28 years.

Chapter Fourteen suggest you do not file for bankruptcy unless you have to, which is what I agree with. This is also the shortest chapter.

Here we go again, chapter fifteen is a flash back from chapter one. Big bad credit card company is stealing from the consumer and it is all a business. I got it already. He gives information on who to contact if they violate the laws. I think you can figure it out or go online to check.

Well chapter sixteen is another flash back to chapter on so I will not comment.

Again chapter seventeen is another flash back to chapter on so I will not comment.

Chapter fifteen, chapter sixteen and chapter seventeen should be combined into chapter one, shaving off three more chapters and 34 pages.

Chapter eighteen and nineteen repeat many of the themes in the rest of the book and he tries to convince to stop collection agencies in there tracts. He suggests keeping a journal when a collection agent calls and document them. Any Judge show should teach you this. Also isn't this common sense?

Chapter Twenty is the achieving wealth chapter which tells you nothing. This chapter is another waist of paper.

Chapter twenty-one and twenty two is about rebuilding credit. The only suggestion that I agree with here is to get a secured card, preferably where you bank already. The other advice; Asking friends and relative to allow you piggy back on their credit, co-sign loans, and taking installment loans are unwise. His rational is unclear and these should not be done anyway. If you piggyback, you guaranteeing to your relative's card company that you will make payment if you relative default for any reason. This and co-signing is never a good idea.

Chapter twenty-two suggests starting a business to get credit. Good if you have a legitimate business and the IRS is your side. For the IRS you would have to make a profit 3 out of the next five years you loose the tax benefits. Doesn't just start a business to increase you credit rating do it because it fills a need.

Chapter twenty-three can be found on line and through Matthew Lesco's books because Mr. Trudeau tells you how to get free money for you business or credit problems. No news here and most of his suggestions can be found online saving you the $39.95 plus shipping charges.

The last chapter has nothing useful.

Let's add up the usefulness of this book to the consumer. First it never gave the specifics I discussed in the second paragraph. The information was vague and sent you to a lot of other sources while other books were clear. Adding up the useless chapters and pages, here are the true number; 10 chapters should have been completely removed for vagueness and useless information representing 184 pages. That's 61% of the book that could have save trees.

If you want alarmist information and everyone other then you is bad, then this is for you.

If you want real information, save you money, there are plenty of books that legitimately help reduce and eliminate debt and help your wealth grow. Read Make Your Paycheck Last by Howard Moe, The Cheapskate monthly, Nolo Press' books on Bankruptcy and credit repair, and dozens of other books. The cost of these books combined should equal to less then the price of Mr. Trudeau' book. Stay away!!!

enjoy

Update 1/13/ 2009

After my reading of this book, I have come across a book that could help you get of debt if you have it is practical. Some situations can not be solved with a magic formula or a book, in most instance debt is one of them.

Since the undertaking of this book, I have come across two books worth while.

1. Financial Pease by David Ramsey
2. Total Money Makeover also by David Ramsey.

Since reading these books, I have become debt free before the credit crisis and I have started my emergency fund. He seems to be the only one who address both issues.

Jay

[...]If you are looking for good sound finanacial advice go with Dave Ramsey or Suze Orman. The price of this book is way over the top, and the only one who will benefit from it will be Mr. Trudeau!

Would you really want to buy a book from someone who claims to be a guru of: finance, natural "cures", memory and weight loss? Would you talk to your investment rep. for weight loss ot natural "cures" information? I think not. I think Suze Orman's information is MUCH MORE sound and recommended. As a banker, I think Trudeau is simply creating a book to go along with the latest panic in the news. I reviewed his Debt Cures book in a bookstore and would not buy it. There is the same free information on the internet. If you are really bent on buying it, wait for it to be sold used for $.01.

I've decided to do an actual BOOK REVIEW, rather than an author review. Sure, Kevin made some mistakes in the past, but nobody's perfect, not even his worst critics. It's my deep belief that if you rip on wealthy people, you probably aren't wealthy and never will become wealthy. So I stay open to what Kevin has to say.

So on that note, I've actually read the book from cover to cover and can honestly tell you that despite his repeating the same basic ideas and how people used the Debt Cures methods over and over, the advice in the book is simple & solid for someone like me who is dealing with debt collection scumbags.

Like Kevin's previous books, there's alot of eye-opening and anger-inducing information. He tells you how to set up an income statement and balance sheet to document your net worth (handy for reducing your debt amount), the details of your credit score, credit repair, basics on how to deal with collection agencies, applying for grants, and getting started with financial freedom.

I'd say the best place to start researching fair debt collection is on the internet, IF you know where to look. However, if you are in getting harassed by bill collectors and completely clueless about your options, this book is a good place to start, but to me it's most useful for the other topics I described previously. Worth a careful read.

My local library had a copy of this book. I am glad I had a chance to read it before purchasing it. The title is misleading. It did not reveal any secrets. The information in this book has been published in hundreds of other books written on this subject. The book is 299 pages. In my opinion its 249 pages too long. The information could have written in 50 pages or less. The author spent a lot of time sharing stories about people who were in debt and how the debt affected them. These stories take up the bulk of the information in this book. Additionally, the solutions provided are the same solutions I have read from other books. Furthermore, anyone could get this information(solutions) for free by searching the internet. Do yourself a favor don't waste your time purchasing or reading this book.