21 Mar Debt Cures: Does Kevin Trudeau Make Money or Sense? Part 5: Fighting Back
Part 5 of my review of Kevin Trudeau’s book, “Debt Cures “They” Don’t Want You to Know” examines Chapter 6 of the book–“Fighting Back”.The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this latest self-help promotion or is he making money selling empty promises.
This chapter is similar to Chapters 1-3 in that, once the reader gets past the horrific/inspiring examples of credit gone bad/put right, that the information presented is clear concise and entertaining. Trudeau explains what information is on a credit report and that lenders will consider your credit “score” in making a credit worthiness decision. He explains that the credit report is confidential and that the three credit reporting agencies are not supposed to provide your report without a legitimate reason.
What is important is that Trudeau discusses the impact that a bad credit score will have on one’s future ability to get credit at a reasonable rate. He points the reader to a Jeffrey Strain article at www.thestreet.com where Mr. Strain explains that poor credit can cost a person $1 Million (in higher interest on, for example, a house).
Again, none of this information is new; however, Trudeau pulls it together in an entertaining way and his words strive to get the reader excited about the opportunity to either improve their credit score or “fight back” against the industry (there is a theme that I have noticed developing over the previous chapters: “us vs. them, the bad credit industry backed by the government”).
Part 1 of my review examines the first three chapters of Kevin Trudeau’s book, Debt Cures They Don’t Want You to Know. (gets an “okay” rating)
- Part 2 of my review dissects Chapter 4 of the book (gets a warning of “Get legal advice from a lawyer in your own state”).
- Part 3 of my review deals with Chapter 5 of the book (gets a warning of “Get legal advice before following Trudeau’s advice”)
- Part 4 of my review examines Chapter6, as Trudeau discusses how to cut your credit card rate. (gets a “doesn’t hurt to try it; don’t expect it”).
- Part 5 of my review examines Chapter 7: Fighting Back. (gets an okay rating).
- Part 6 of my review examines Chapters8-11: Credit Score (gets “good information”)
- Part 7 of my review discusses Chapter 12: Credit Reporting Errors (gets mixed review as he repeats bad information (discussed earlier in Part 3) but generally good information).
- Part 8 of my review examines Chapter 13: Student Loans (gets generally good review)
- Part 9 of my review discusses Chapter 14: Home is Where The Start Is (gets nearly failing grade)
- Part 10 of my review examines Chapter 15: No Bankruptcy (gets failing grade/adds shame)
- Part 11 of my review examines Chapter 16: Big Business (credit card industry)(gets A grade for giving information)
- Part 12 of my review discusses the information presented in Chapter 17: Stealing Candy from Babies (gets okay rating for giving information)
- Part 13 of my review examines Chapter 18: Three Ring Circus (gets failing grade for repeating information already provided)
- Part 14 of my review examines Chapter 19: Slaying the Dragon (gets A grade for giving the math on how long it takes to pay off a 20% credit card with a balance of $8000 with just minimum payments….FIFTEEN YEARS!!!
- Part15 of my review examines chapter 20: Stopping Debt Collectors Cold (gets a failing grade for some good information and then followed by really bad advice: scary!)
- Part 15B of my review goes into more detail about what was scary about Chapter 20.
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