Kevin Trudeau Debt Cures Reviews

Kevin Trudeau’s Debt Cures Book Reviews – Chapter Three

In chapter three, titled “Hanky Panky”, Kevin Trudeau starts out saying that Debt Cures will show you the way to true financial independence and financial wealth and to no longer enslaved to debt.

According to Trudeau, Americans are too trusting. We do not know that the federal government is getting in the way of our financial independence. Further, the Feds are aware of the games that are played by the credit card companies and the banking industry. Why doesn’t the federal government do something to help stop us from going further into debt? Because we don’t contribute to their re-election campaigns and the banks do. Combined debt by Americans is at a record $6.7 trillion dollars, and Trudeau makes the statement that the average working person spends 90% of their disposable income in paying down debts (again, I wish he would attribute that statistic). Debt is an epidemic but the federal government is looking the other way. Americans are faced with such stress from debt that many fear getting out of bed, yet Trudeau states the federal government is partners with the lenders.

There are four problem areas that Trudeau sees with this union. First is bankruptcy; personal bankruptcy is at an all time high with one in fifty Americans having filed bankruptcy. With debt so high, the government recently took actions to make it more difficult to file for bankruptcy. This protects the banks and credit card companies but not consumers. I wish Trudeau would say what the government should do for consumers, but I’m sure that’s coming later. Next, Trudeau asserts that it’s not the borrowers who are out of control, it’s the lenders. We wouldn’t be in so much debt if it wasn’t so easy to borrow, and the reason lenders make it easy to borrow is so they collect on the fees and penalties they are allowed to issue because it’s legal by the government. And if the banks want to do something different, they get their cronies in Congress to change the law. Third is the subprime mortgage crisis. This was brought on according to Trudeau by the government and the banks, with the government encouraging the banks to make risky loans so the government can take credit for creating new home ownership while the banks then get to foreclose and gobble up valuable property. Finally there is a student loan scandal. $85 billion dollars worth of scandal. Trudeau points out that several financial aid officers at colleges and universities are collecting big bucks as kick backs from student loan companies. When the scandal is exposed, the government sits on its hands “lacking the legal authority” to do anything.

Trudeau wants us to know that “the inner workings or the entire consumer lending industry is one of the greatest travesties that this country has ever seen.” There’s a breach of trust between the government and us consumers. Not that we know this background information for the Debt Cures, Kevin Trudeau can show us how to fight back.