Posted on June 2, 2009 at 6:10 am any thoughts on Suze Orman? John Commuta? Kevin Trudeau? Dave Ramsey?

Posted on June 2, 2009 at 6:24 am Suze Orman introduced an interesting method in paying off multiple unsecured debts, which is to prioritize those with the highest interest rate first. I believe her rationale behind this approach is for the consumer to pay off the individual's other debts easier, and at the same time worry less about bigger finance charges in the future. Ms. Orman also encourages people to "pay down" their balances, meaning they should at least pay more than the minimum amount due each month. Apparently her approach entails more discpline and persistence on the debtor's end.

Posted on June 2, 2009 at 6:37 am been trying to do research on John Trudeau--apparently he's written a book on curing debts. Sounds like a good idea but looks like he's had a bad track record with the Federal Trade Commission for trying to sell goods that aren't working, like "miracle drugs" and hair-loss antidotes. 

Posted on June 2, 2009 at 8:17 am Kevin Trudeau's past is skeptical to say the least. This guy's track record is so long I have no idea how is still selling products for anyone. For example, the NY state Consumer Protection Board (CPB) has issued a warning to all consumers stating that Trudeau has been selling personal information to telemarketers and junk mailers by getting these people to call a toll free number to get information about his new book on dieting. It appears this is the least of his worries. Back in the early 1990's, he was convicted of credit card fraud in a Boston federal district court. In 2003, the FTS issues an injunction claiming that his infomercials suggested that he had a cure (coral calcium) for cancer and/or other diseases. He was ordered to stop marketing the product. But the fun does not stop there. A year later, he was found in contempt of court for violating the injunction and ordered to stop marketing medical products. Now, he is selling his book Debt Cures and has been very successful with this new venture. He just keeps going and going.

Posted on July 24, 2009 at 8:29 am You can consider hiring debt experts to help you resolve your debts. I did about 6 years ago and it was worth it- you just want to make sure the debt experts you work with are in fact experts in their respective field.

Posted on July 25, 2009 at 2:53 pm I saw a report on Nightline in which Suzie Orman was asked about which card to pay first.  Interestingly she stated to pay the minimum and sock away the rest for savings at this time.  Her rationale was that in this credit crunch, it would be more prudent to start a savings account. For me personally, I do both.  I have a plan set forth to have all my cards paid off in 3 years.  I am 4 months into the plan, and it is really difficult.  I have a blog here that details my set backs and so forth.  But perservence is the key.  

Posted on July 27, 2009 at 12:29 am Whose approach wud u guys consider the most effective

Posted on July 27, 2009 at 3:13 am I am not endorsing Suze Orman, but I personally would pick her approach to paying off debt. It tackles the bigger issues (i.e. the debts with larger interest rates) and allows you to pay for much less in the long run. It may be quite the challenge in the beginning, but you end up saving a lot more, especially on the interest payments.