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Kevin Trudeau, the author of Debt Cure$ “They” Don’t Want You to Know About, has been called everything from “snake oil salesman” to “Satan,” and from what I have seen, he’s not very well liked in the forums & blogs.

One thing is true though… he has sold a lot of books! Over 15 million according to the New York Times.

First off, let me clarify that this is strictly a review of the material in the book, not of the author, or his infomercial programs. I feel that every book deserves an unbiased review, no matter what the consensus says. So here goes.

The first thing I noticed when opening the book is that there is no forward, only a one page disclaimer. Personally I can’t recall the last time I read read a book which began with a disclaimer. However , he does use it effectively, to separate himself from the book. I guess he felt he needed to.

Debt Cure$ “They” Don’t Want You to Know is a book focused on giving the reader secret information to get out of debt and clean up their credit. Secret, according to Trudeau, information that “They”, the banking and credit card industry, mortgage lenders, and even the federal government, have been keeping from the American public for years. Sounds more like a Tom Clancy novel to me! Government cover ups, shadow banking, perhaps throw in a little espionage just for kicks, but what the heck people love conspiracy theory right?

In light of this, Trudeau does seem very good at backing up his theories, with very detailed facts and statistics.

Trudeau writes, “We as a nation are carrying a balance of consumer debt to the tune of 2.4 trillion dollars…. Based on the latest census data that equates to $8,000 of debt for every man, woman, and child living here in the United States.”…..”The system is geared to keep you in debt.”

In fact the first three chapters are devoted to highlighting some of the erroneous Hanky Panky that is going on behind the seens in banking industry an Washington, DC.

One of the things that I do really like about this book is the level of deatil, the author uses. Many similar books give very general recommendations when it comes to debt releif and credit repair. Trudeau, on the other hand gets very specific with details that are sure to help those reading the eliminate at least part of their debt. For example, he points out that if you live in certain states, your credit card debt is “untouchable” after just 3 years, based upon the statute of limitations laws.

Despite the rumers and reputation of Kevin Treadeau , this book holds a tremendus amount of very useful information. The next several chapters focus on enlightening the reader with detailed information subjects like:

• Ways to legally eliminate your debt, through careful negotiation, and knowledge of the laws designed to protect you from creditors.
• Knowing your credit score, what a credit report consists of, and how it changes.
• Identity theft.
• Fighting back against creditors.

“Are we a nation of wealth, or have we become a nation of citizens who are oppressed by the banks, the mortgage companies, the credit card companies, the department stores - the entire lending industry?” Kevin Treadeau, Debt Cure$

The last few chapters of Debt Cure$ are a wealth of information and tips for finding extra cash and savings, from some of the most unlikely sources that none of us would ever dream of.

In reading this book Kevin Trudeau has shown me that Debt Cure$ really do exist. We just need to look past the snake oil salesmen and uncover the truth that lies beneath.

Just an note: As mentioned this review is based solely on the information in the book. I have no knowledge or experience with Trudeau’s other programs and can’t attest to their worth. Having said that, I give this book an A+. It is truly a wealth of knowledge and inspiration.

Please, if you comment on this post, do so only in regards to the book itself. Trudeau’s infomercials will be discussed in other posts.

Thanks,

~Gary

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Being a big fan of the Rich Dad, Poor Dad I decided that I would start off this category with a book by Garrett Sutton, ESQ. entitled The ABC’s of Getting Out of Debt. This book is part of the Rich Dad Advisors series by the famous author Robert Kiyosaki, who wrote the forward to this book as well.

This book is slightly different than the average “get out of debt ” book”. Robert Kiyosaki has a unique way of explaining why the rich are rich and the poor are poor. The book teaches the difference between good debt and bad debt, which is a striking difference to the usual All debt is bad debt theory.

The book is divided in two sections: getting out of debt and credit repair, which we will be discussing in the next post.

Garrett uses a mix of personal experiences as illustrations, backed up by legal knowledge, to make his points throughout the book. He empowers the reader to stand up against debt collectors, by knowing their rights and not being intimidated by their often ruthless, and illegal practices.

Garrett writes, ” You can be sure that the credit card company really doesn’t care about you as an individual, or about your unique concerns and issues. you are a billing unit, one of millions of indistinguishable billing units. You merely exist to provide profit.” Now thats putting things into perspective!

As mentioned the book is quick to point out that all debt is not bad. Although, Garrett points out that bad debt needs to be dealt with quickly so that people can get on with their lives.

What I like best about this book is chapter VII, “Emergency Measures for Special Debt Situations”, in which he lays out common scenarios like foreclosure or late car payments, with very specific actions based upon how far along someone is in the collection process. He is very quick to recommend speaking to a debt professional, when the situation calls for it.

I would highly recommend this book to people who have read some of the other Rich Dad books, as you will find this book fits well in the series, and will probably better understand where the author is coming from.

However, if not, or if you are of the mindset, that all debt is bad, and you are focussed on getting completely out of debt, then you might want to pass on it. There are many other books out there that cover this in greater detail.

Overall I give the book a “B”.

Stay tuned for tomorrows follow up, the credit repair section of, The ABC’s of Getting Out of Debt.

~Gary

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