If you ask Kevin Trudeau, a “Debt Cure” (especially a Debt Cure he wants you to know about), is merely a collection of information designed to help you rid yourself of debt. Perhaps that is true. But what information and at what pace?
Trudeau’s book talks about legalities and ways to get the companies to either completely write-off your debt, or significantly decrease the balance. Sounds nice, and it might get rid of your debt faster, but in the end, it only leads to more debt. Making those agreements with your creditors gets reported to the credit bureaus and can have a rather severe affect on your credit score. And if you get the easy way out, your much more likely to get yourself right back in that problem.
So, what exactly is a debt cure then? In a previous post, I suggest reading the book “Total Money Makeover” by Dave Ramsey. I still suggest that, as it is still the foremost book in legally and responsibly getting yourself out of debt. And I have to think that the odds of recurrence are much smaller after having gone through Dave’s TMMO than following the advice of Kevin Trudeau.
The only way to truly cure debt is to properly educate yourself on the way that personal finance works and take positive action towards your personal finance goals. Taking responsibility for the debt that you’ve incurred is a good step, but you also have to formulate a plan for paying it off and keeping it off.
If you’re interested in learning more about personal finance, I write at another site called Beating Broke and you’re welcome to stop by and read for a while. I’ve also written a Free guide to your credit score and how it works that you can get at Beating Broke. Please come take a look and begin your journey to being debt responsible.