30 Apr Debt Cures: Does Kevin Trudeau Make Money or Sense? Part 15B: The Scary Part
Part 15 of my review of Kevin Trudeau’s book, Debt Cures They Don’t Want You to Know examines Chapter 20: Stop Debt Collectors Cold. 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?
At the end of Part 15, I concluded that Mr. Trudeau’s chapter on stopping debt collectors had partial really good information which he then negated by repeating bad advice from earlier in his book. I ended by advising that following his advice without getting your own legal advice was scary.
Ending on a negative note was rare enough that I thought I should explain further. In the middle of Mr. Trudeau’s list of what debt collectors can and cannot do-his list of Consumer Rights–he explains that a debt collector cannot sue a consumer, that only original creditors can sue you. THIS IS COMPLETELY WRONG IN MOST STATES….DEBT COLLECTORS MAKE LOTS OF MONEY GETTING DEFAULT JUDGMENTS AGAINST CONSUMERS. Mr. Trudeau is wrong wrong wrong to make a blanket statement that a debt collector cannot sue a consumer. As a matter of fact, I am unaware of any state that has this kind of law prohibiting lawsuits by debt collectors.Folks that read and believe all of page 205 in his book will be sadly surprised when suddenly a lawsuit is served on them. Folks, please get legal advice from a qualified attorney who has experience in these kind of cases.
- 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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