Eliminate Debt Kevin Trudeau
Al Rep Points:
Posted on
July 15, 2009
at
3:19 am
who's that kevin trudeau what his business be- you folks know? i need to eliminate certain debts, can you help?
Posted on
July 15, 2009
at
3:23 am
Oh I saw that in the infomercial--it says that you'll learn about debt elimination that has never been revealed before anywhere else - just in Kevin Trudeau's book Debt Cures..And I think that it's just one of those self-help books. If you need help with your debts sir, feel free to fill out one of the forms here, and speak to A REAL live debt consultant for free.
Posted on
July 15, 2009
at
3:27 am
I haven't read that book but I heard that it accuses that the banks, credit card companies, and the federal government of being in cahoots to try and keep the consumers in debt. Pretty strong accusation huh? But he may be on to something there..there were/are really practices by the banking industry that the government seems to tolerate..What sort of debts do you need to eliminate?
Posted on
July 15, 2009
at
3:32 am
Another one of those eliminate- debt- my -way- type, that works in basically the same principle as all the others. How to eliminate your debt? Negotiate the principal amount down and reduce your interest rates--is what it's all about sir.
Al Rep Points:
Posted on
July 15, 2009
at
3:36 am
i see, as long as it's not a scam. also the debts that i need to eliminate are credit card debts. i've stopped paying because i lent some money and they haven't been returned yet. huge credit card debts, im thinking of filing bankruptcy even.
Posted on
July 15, 2009
at
3:48 am
I don't think that it's a scam- but I think that it's not a must have. You coming on here is a testament to that. You said that your debts are mostly credit card debts and that you've stopped paying. The book would tell you that it's perhaps the best time to contact your creditors to negotiate- why? Because they only do so with accounts that are past due. That book would also probably tell you to contact your creditors and try to pull down your principal to at least 50% and to have your interest rates lowered or request the creditors to freeze it for a time. That book debt cure might also say for you to negotiate the payment terms-see you learned them all here in the thread for free!
Posted on
July 15, 2009
at
3:52 am
I agree with foolishgames, and you don't have to file bankruptcy sir. Your debts are mostly unsecured-they are negotiable. You did not mention being served a court summons yet, so you don't need the bankruptcy protection (automatic stay).There are alternatives to bankruptcy. Credit counseling is one and debt settlement is another. Recently, President Obama spoke to creditors regarding unfair practices, and in that meeting the creditors actually revealed their willingness to settle consumer debts. So this is the time to try to eliminate your debts via settlement.
Al Rep Points:
Posted on
July 15, 2009
at
3:55 am
alright, how does this settlement of debt go?
Posted on
July 15, 2009
at
4:01 am
Okay Al, a debt settlement is a process in which the debt settlement company acts on behalf of the consumer by contacting their creditors and request a settlement amount. This amount is less than the total balance owed. Depending on several factors like the creditor's character, the amount of debt, the account, etc. it can be settled by almost half of the original amount. For example, if you owe $11,000 on a credit card, negotiating with the creditor may result in you just paying – say $5,100 (this of course depends).
Posted on
July 15, 2009
at
4:04 am
Just to add to what damon and graham's comment, you'd pay your debt on a lesser amount in exchange for the creditor closing that account and marking it as “paid” or “settled” on your credit report. And then afterwards, you have to deal with repairing your credit.
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