The Secrets of Debt Cures

Do you believe you can cure your debt woes overnight? Are there secrets out there that the credit and lending industry do not want you to know? Would they rather see you drowning in a pool of massive debt? Well to answer the first question, you cannot get rid of debt overnight. However, you can lessen the amounts you owe and even negotiate your debts with the credit card and collection agencies. They would rather see something than risk losing everything. There are, in fact, debt cures they don’t want you to know about.

In the popular book, “Debt Cures” by Kevin Trudeau, the author states that you should show your creditors an income statement and a balance sheet. If the creditors know that you have a little to pay them, they may reduce your debt. Another thing you could do is call up your bank and ask for a lower rate. You may have to do a little of harassing as some other companies do to you with letters, emails, and the dreaded calls to your home.

Another way to reduce debt is to stop watching television.  I know; I was shocked too! However, according to A.C. Neilson, the average American will spend 9 years of their life watching TV. Just think, if you are spending all that time watching television, you are not being productive when it comes to your debt. You could be working another job, selling things you don‘t need, or researching personal finance. Some other advice in the book, “Debt Cures” is not to admit a debt is yours. Use words like “alleged debt”. Some of these ideas are crafty!

If the debt has surpassed the state’s statute of limitations, you could be off the hook! There is also a way to get rid of those annoying creditors for all of us that have been hounded day and night. You have to notify them in writing to stop calling you. You should also check your FICO score. Suzie Orman also recommends that tactic. In the end, we all have a choice, to spend more or to pay down our debts. So the next time you want to make a purchase, whether it is new pair of shoes or that video console, just remember you could be getting rid of some of your debt!