In the book, Trudeau writes that you need to fight back when you are in debt. You need to contact your debtors and the collection agencies to explain your financial situation to them. Be persistent and remain in contact with them until your debt is resolved, or at least until you have reached a payment plan that is acceptable. With the debt kit you have an added weapon.

Included in the debt kit are numerous letters you can send to collection agencies. They include: Offers to settle debt, a request to reduce the monthly payment, a letter to report harassing calls along with a sample complaint letter to a state attorney general’s office. If a creditor is after you, Kevin Trudeau shows you how to write a letter to request a lower interest rate, a request to suspend payments, letters to request the removal of a fee, as well as a letter to reduce payments.

Throughout Debt Cures, Trudeau repeats that it is important to clean up your credit report and to improve your credit score. His sample letter kit helps in that regard. He includes the addresses, phone numbers and websites of each of the three main credit reporting agencies. Then he provides samples letters to send to them, including the correction of information letter, a follow-up letter to make sure the work is being done, a letter of notification of identity theft. As you have the right to explain any and everything on your credit report, Trudeau provides a sample letter for adding a personal statement to your credit report. He also shows how to request a free copy of your credit report. Because it is not unusual for there to be incorrect information on your credit report there are letters available to help you correct or remove this type of misinformation.

As the Federal government has done little to help consumers, there is a sample letter that you can write your congressman. You may not give as much to their campaigns as the banks do, but you are the one who has the right to vote during each election, and it never hurts to remind your congressman of that fact.

Debt Cures provides plenty of information you can use to get out of debt and to improve your credit score. The book itself states things in general terms, the sample letter kit is by far the most practical advice that Trudeau provides. In one document is most of the help that you will need to begin digging yourself out of debt. Keep fighting the fight, stay the course and you will be able to stay out of debt.

Have you tried using any of the letters in the Debt Kit? If so, please share your experiences below.

Most of us have been in debt at one time or another. The average American is anywhere between eight and eleven thousand dollars in debt. It is hard to achieve wealth when you are that much in debt. However, Trudeau says that if you follow his tips and techniques outlined throughout Debt Cures you can eliminate bad debt and begin using good debt to build wealth. Again Trudeau states that the debt problems many of us are experiencing are more the result of aggressive tactics by the lenders rather than poor spending habits on our part. We are unable to cut any more fat because we have already cut the fat out of our budgets.

Trudeau says to get rid of bad debt you need to be taking care of business. Get your credit report, review the credit report thoroughly, and correct errors and false information. 90% of credit reports have errors, get them corrected and begin saving money. Also try to pay on time, never skip a payment, and make the minimum payment or more each month. Once you have good credit you want to keep it that way.

When you have taken back you financial life, make sure you let you friends know about. Let them know about what you have learned in Debt Cures. Trudeau says don’t keep your success to yourself. Share the tips with your family and friends.

Debt elimination is possible, it may look helpless when you take a look at that stack of your bills, but as you start seeing your debt go down you confidence will increase. Take a stand and get the debt collectors off you back, use the tools that Trudeau has provided throughout the book. Create and use a balance sheet and income statement. Show them to your lenders and try to get some or all of a debt wiped away.

Debt Cures presents a two way street. The first phase is controlling your debt and the second phase is moving forward. The forward path involves creating wealth in order to live the lifestyle you want. The hardest part is getting the debt under control, once that happens you move on to the fun part. Trudeau talks about grant money that is available. And the best part of grant money is that it doesn’t have to be repaid. Trudeau says your bad credit can be replaced by good credit, where you can get a credit line of up to one million dollars. Trudeau says the Debt Cures methods are the ticket to a future of wealth, of stability, and of self-reliance. Look forward to your future with great confidence.

This seems to me like a very simplistic “magic” solution. While it’s true that many people have credit problems because the were victims of identity theft, there are many who were not. These magic words will not help most people who have simply amassed too much debt.

Whenever you have a problem with a credit card company, you need to be consistent and call them to complain. Be persistent; don’t give up after one or two calls. If they will not give you what you want, don’t pay them anything else. Cancel your account and go to another bank. You shouldn’t switch to another bank just for the sake of switching, but in order to get the best deal for yourself that you can. Never give up.

Trudeau tells the story of someone with $8,000 in credit card debt. Working the credit card companies against each other allowed the person to cut years off of his debt while saving thousands of dollars. You don’t have to remain in debt if you take control and fight back. Use whatever leverage you can.

Being in debt is horrible, but it doesn’t have to be permanent. Take control of the situation. Debt avoidance does not equal debt riddance. Just trying to avoid your current debt will not help you get rid of it. You must attack it head on. Once you have conquered bad debt, then you will be able to begin to create wealth. And what do you want your money to be doing? Helping an executive at your bank lead a good life, or helping you doing what you want to do?

Don’t come up with excuses as to why you can’t pay your debts. Fight back and get them to reduce or waive fees. Be persistent. Never give up. They keep asking for your money. You should be asking for ways to keep it for yourself.

Don’t let fear control you. Negotiate directly with the companies. Kevin Trudeau tells a story where a couple was deep in debt. They prepared a financial statement, got together their facts and were able to reduce their balance by half. It took time and many phone calls but it worked. Remember, the companies would rather get some money than get none. If they have to call on a collection company, they will have to share what you pay with them. Work out the best deal for yourself. Take notes of each call and get them to write down the terms of any settlement. Get in control; then stay in charge. The credit card companies lose out if you go to bankruptcy court so call their bluff and get a better deal. Use these Debt Cures to win back control of your life. Is it any wonder They Don’t Want You To Know About Them?

The difficulty is part of the plan. If we can’t read the contract, or give up halfway through, then they can legally charge us the high interest rates and fees that Trudeau calls obscene. Mortgage companies and car dealers must have easy to read contracts. When you purchase a car, you know up front the amount of each monthly payment, and the number of months it will take to pay off the loan. With credit cards, all you get is a monthly statement with a minimum amount. Kevin Trudeau quotes a professor who says that credit card companies should put a one line sentence on your monthly statement showing payment options. Imagine your reaction if you saw that if will take 60 months to pay off your $2,000 credit card debt. It may change the way we use credit cards, and may decrease the company’s profits. The credit card companies argue that it is too complicated to include on the statement, but Debt Cures says it is just information that they do not want you to have.

Credit cards are swiped 52 million times a day; so why do credit card companies need to charge such high fees? Each time you swipe, the companies are getting a portion of the sale. Trudeau says he doesn’t have a problem with credit card banks charging a reasonable interest rate, his complaint is their obscene profits from high rates and fees.

Kevin Trudeau says you need to be the ringmaster of this circus. He proposes several ways of being the human cannonball and fighting back. Some are reviews of techniques he explained in early chapters of Debt Cures while other tricks are new. Here are a few of these techniques:

1. You should be contacting the credit card companies anytime you have a question about your statement.
2. Call your company about reducing your interest rate.
3. Make sure you use your threat of transferring your balance to a competitor.

Remember, they would rather make some money off of you versus making nothing. Simply asking can reduce your monthly obligation considerably.

Make sure that you contact your company to have the annual fee removed. Most companies don’t charge it, but some do, why pay $30 or $40 a year plus interest when a phone call could remove it. Remember, whenever you call, if they don’t satisfy you the first time, ask for a supervisor or keep calling until they do what you want. When calling, ask for a higher credit limit, not for you to use but to help improve your credit score. Remember if you score goes up, you can use that as a tool to lower your payments. If it is your first late payment, call to see if they will remove the penalty. You have nothing to lose and may save money. Make sure you read chapter 17 of Debt Cures as Kevin Trudeau provides you with details on how to win when fighting back. Be the strongman or strongwoman in this circus. Be a success story.

It used to be that you needed to be a good credit risk before anyone would loan you money. That’s no longer the case as lenders look for people who will pay back their credit, only after missing a few payments and earning the lenders huge profits. Loans used to be a win-win situation, with the borrower able to repay, and the lender making a modest profit. Now the profits are obscene while the borrower is less and less likely to repay without first getting into some problems.

With the abuse of the system one would think that companies are having a hard time finding new people to scam, but Trudeau says that is not the case. He says that companies are targeting the least likely to pay back; illegal aliens, the poor and college students.

One would think that you wouldn’t want to loan money to illegal aliens, they don’t have credit records or social security numbers after all. But if they can get an identification card, then they can get a credit card. Once they have a credit card, then they can be charged for late fees, penalties and high interest rates, just like you or money. Another way to help illegal aliens join the American dream.

Further, credit card companies are marketing poorer neighborhoods of America for hopes of catching new customers. People who are having difficulty paying their rent and utilities, now go to the mailbox and find tempting offers of new cash, only to find out the hard way that they could be ensnared with greater and greater debt.

Finally the most sought after group is college students. Hook kids in their late teens and early twenties and they may be paying interest for the rest of their lives. All you need to do to get a credit card is to be enrolled in college. Your ability to pay isn’t even considered. By the time Mom and Dad find out, the student may be thousands of dollars in debt, in addition to the expense of college. Credit card companies are allowed to set up booths on campus to sign up students. There’s little to stop them and the rewards for the credit card companies (and the expense to the students and their families) are almost limitless.

Kevin Trudeau says “that debt is the one issue in this country that touches everyone.” Debt does not discriminate; everyone is fair game, but the game isn’t fair. Trudeau says it’s a call to arms, for us to fight back. Debt Cures states that we cannot allow these companies to continue, it is costing everyone. Some parents have contacted Washington but more need to be done in order to bring about action.

One credit card company took the liberty of changing the monthly due date of its customers. Only they didn’t bother to point out the change and must people realized it changed only after they noticed the late fee penalty on their next bill. That’s why you need to read your monthly statement carefully and call to question and complain when there is a charge that should not be there. Keep fighting back. That’s what a resident of Minnesota did. She signed up due to a low, fixed interest rate. A few months later she noticed that the interest rate went up. So she contacted the credit card company and she contacted the Minnesota state attorney’s office. She knew her rights and she fought back. Credit card companies spend millions of dollars a year on marketing campaigns because they think they can get the money back.

Make sure you are not a victim of any company schemes. Trudeau says you should file a complaint if you suspect anything shady. The first place to start is with your state’s Attorney General’s office. While the federal government may not do much, your state most likely has an office to investigate consumer issues. Most lawsuits against credit card companies are filed by attorney generals, and most of them are initiated due to average citizens like yourself taking the time to complain. While the federal government does little about credit card companies, your local congressman just might. Remember to contact them; they are ultimately responsible to you. You elect them to office; not the credit card company’s contribution. Make sure they are reminded of that.

Trudeau also provides contact information for other government offices to contact. And if you are worried about what to say, Trudeau also gives details on the information you should be providing. Remember it’s your money and you need to fight to keep it.

 Watch out for a little tactic call Universal Default. Universal default is legal, but Trudeau screams about how unfair it is. An example of Universal default is when you make a late payment to company A and they raise your rate because of it. Then, other companies are now allowed to increase their rate to you even if you have never missed a payment with them. Trudeau says the average default interest rate is 24%. Imagine if this happened while you were in school. You turned in homework late in English class, and now you math teacher lowers your grade as well. Kevin Trudeau encourages you to call your congressman and complain. Debt Cures teaches you how to fight back.

Repeating the theme of a good credit score, Trudeau points out that by having a higher credit score, you can get a lower interest rate. One example he shows is a person with 720 credit score paying about $500 less a month on a $200,000 mortgage than a person with a 500 credit score. If you have been able to improve your credit score, now is the time to shop around for a lower interest rate. Use the savings from the better rate to pay down other debt or to pay ahead on your mortgage if you can.

Another fee banks charge on mortgages is the Private Mortgage Insurance or PMI. PMI is charged when you have less than 20% equity in your home. The banks charge PMI each month to reduce their risk on your mortgage. Check with your bank to see if you are being charged PMI and how much it costs each month. If you own more than 20% of your home you should verify with the bank that the PMI charge has been removed from your monthly bill. Try avoiding the PMI like the plague. If you can try to get a loan from a family member to get it paid off then do so. Kevin Trudeau also mentions other ways in Debt Cures to increase your equity to get rid of PMI. You can put that money to better use.

When refinancing your home, don’t fall for any interest rate gimmicks. Trudeau recommends you stay away from variable rates and get a fixed rate loan. Make sure there are no penalties for early repayment. There are ways to reduce or shave years off your mortgage. One way is to pay more than your monthly payment. Since you might not be able to afford that, consider splitting your mortgage payment. Set up mortgage payments to be made automatically each time you get paid. You’ll save thousands over the life of a mortgage and could reduce a 30 year mortgage down to a 25 year mortgage. Be creative! Just make sure you check with your lender first so that they won’t hit you with any fees.

In Chapter 14 Trudeau encourages you to stay away from bankruptcy unless it is absolutely necessary to do so. Thousands of Americans are declaring bankruptcy each year, you probably know someone who has. Ask them if it has helped them. Chances are they are now having problems with their credit because they have a poor credit score and can’t get a good rate. Bankruptcy lawyers may be the only ones benefiting from the increase in bankruptcies in the United States.

You’ve gotten your credit report, you’ve fixed it, you are now monitoring your score (and if you are not sure how to monitor your debt, Trudeau provides you with the tools to eliminate your debt and to increase your credit scores). Trudeau provides several more tips on improving your credit score in the book. Trudeau also urges you to pay down as much debt as you can. You should never be in debt more than 30% of any credit limit provided by a credit card company.

Kevin Trudeau points out that someone with a credit score of 700 could save $100 a month in mortgage payments versus someone with a credit score of 675, and save $300 a month over someone with a credit score of 625. That’s the incentive for working hard at improving your credit score. This translates to more money in your pocket to do what you want to do or to pay down additional debt earning you more money in the future. Over the life of a mortgage you could be saving as much as $110,000 or more depending on the size of your mortgage.

There are other ways to “see the money.” Trudeau points out several tips including:

1. Paying on time – this not only saves you on penalties but will keep your credit score high.
2. Pay more – if you pay more than the minimum requirement you build up your principle while reducing your interest charges.
3. Never skip any payments, and don’t close out credit cards – make your payments and remember that having a long history with a credit card company improves your credit score. So don’t be quick to cut up your cards.

There are several other tips and of course, Trudeau provides details on each tip. Remember following these tips will increase the money you retain each month.

In Chapter 12 of Debt Cures, Kevin Trudeau points out that bad information equals bad credit. It is possible that your poor credit score might be the result of Identity Theft. Identity theft is impacting more Americans every year. It is not just you that could suffer, but banks lose millions of dollars a year thanks to identity theft. That’s another great reason to check on your credit report. It might be the first time you realize you are a victim. In addition, Trudeau maintains that you should also use a credit monitoring company. Credit monitoring not only helps protect you against identity theft but it also will help you maintain a good credit score. You should also follow basic security steps, don’t give out personal information to people you don’t trust, always log out of financial websites when you are finished with them, make sure you have up to date antivirus and security software on your computer.

This is all part of Kevin Trudeau’s continuing Debt Cures to take charge of your life and your finances.