What Do You Guys Think of John Cummuta?

[FinanceDude]

One of my friends bought the program for $199.00. The whole premise is to pay off your debts one by one, and then take the payment you WERE making and apply it to the next debt, etc.

I would think one could learn how to do that from here, the Internet, or spending money on ESR Bob's book........

But, on the other hand, if it works, he will save a lot more than $199.00 in finance charges...........

[Andre1969]

The whole premise is to pay off your debts one by one, and then take the payment you WERE making and apply it to the next debt, etc.

That basically sounds like what CCCS (Consumer Credit Counseling Services) set up for me when I got into a bind after my divorce. They negotiated lower rates with my creditors, and when I sent in my check to them they paid them all off. As soon as one got paid in full, that payment just got applied to the others. Once I started getting back on my feet though, I sent in extra money, and had them apply it to the creditors with the highest interest rate.

[Nords]

Quote:

Originally Posted by FinanceDude One of my friends bought the program for $199.00. The whole premise is to pay off your debts one by one, and then take the payment you WERE making and apply it to the next debt, etc.

So, does he take credit cards? Does he sell gift cards?

Did he watch Steve Martin give away his whole business plan on Saturday Night Live a few months ago?

[maddythebeagle]

I dont know but why are posting this here....? Lot's of high net worth, frugal folks.... 8) unless you are suggesting this as way to make money off of the great unwashed masses

[Bob_Smith]

Quote:

Originally Posted by FinanceDude One of my friends bought the program for $199.00.

I tend to believe that there is an inverse relationship between the value of a financial service and its cost. This appears to be a perfect example.

[education]

Interesting that you should bring up Cummata today. I just received an email from him touting his get out of debt and get wealthy materials. 4 items, I believe, to help us get out of debt and grow wealthy for the amazing price of $39.99. So it looks like the friend who invested $199.99 got reamed.

I feel this way about his ideas for tackling debt and saving: I just did. I saved either $39.99 or $199.99. Better in my pocket than his.

Professor

[FinanceDude]

Quote:

Originally Posted by Maddy the Turbo Beagle I dont know but why are posting this here....? Lot's of high net worth, frugal folks.... 8) unless you are suggesting this as way to make money off of the great unwashed masses

Well, this is the forum of "been there, learned that", right??

SInce when is my name John Cummuta??