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February 18, 2009

Debt Cures: A Review

. February 18, 2009

'Debt Cures They Don't Want You To Know About' is a book by Kevin Trudeau published May 2008 which claims to blow the lid off the finance industry. It is a follow up to his 2007 book, 'Natural Cures They Don't Want You To Know About' which exposed the pharmaceutical industry and medical practitioners for covering up the fact that there are simple natural treatments for many conditions that are just as effective as prescription drugs, but 'they' (the medical establishment) are constantly pushing us into becoming dependent on pharmaceutical company products.

'Debt Cures' follows the same kind of pattern in claiming that the banks and other finance institutions are virtually ganging together in a conspiracy to push the population deeper and deeper into debt so that they can make money from all of the interest that we owe.

This is an attractive idea for many people who are in debt because it takes the blame firmly away from our shoulders and lays it on the credit card and loan companies. It's not your fault - you were virtually forced into the spiral of debt that you find yourself in. That is Kevin Trudeau's argument, anyway.

We grow up accepting that it is normal, natural and even wise to be in debt. Perhaps in some cases it is. Take mortgages for example. Your parents and grandparents may have warned you about living within your means, but did they ever suggest you shouldn't take out a mortgage because you would be getting into debt? I doubt it.

For most people, a mortgage is a very good financial proposition. It often works out cheaper than paying rent, at least after the first few years, and at the end of the time you own the house. It's almost a no brainer, if you have the salary to afford it.

The problem is that most of us do not understand the difference between taking out a loan to buy an asset that will increase in value, like a house or perhaps a business, and getting credit for things that will never again be worth what we paid for them. That includes cars, furniture and all the little things that we put on our credit cards.

When you get into debt, banks will offer you more cards and loans until the point where it becomes almost impossible to pay. Then they pull the rug out from under your feet. No more loans, your cards suddenly don't work, and the credit score system makes sure that all of the other finance companies instantly know that you are a bad risk. That's where the conspiracy idea comes in.

In the end though, we could say that it doesn't really matter whose fault it is. If we are in debt then nobody is going to help us get out, that's for sure. Certainly not unless we pay them for their advice.

'Debt Cures' is a little repetitive in places, but it gives you some good ideas for reducing your debt and even eliminating parts of it. There are web addresses for internet sites where you can pick up free reports on how to reduce different types of debt. Some of the tactics he suggests are not workable in every situation but you should find some hints in there for dealing with all types of debt.

There are more comprehensive debt management books out there but this one is simple to read and excellent for anyone who doesn't know where to start. If you have not begun tackling your debt yet, 'Debt Cures' by Kevin Trudeau should give you some ideas that could quickly help you save much more than the purchase price.

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