This post isn’t so much about how to eliminate debt as it is about transforming that debt into wealth. If you’re like most people you have debt. And if you’ve listened to the radio at any point in the past three years you’ve most likely heard about John Cummuta’s Transforming Debt Into Wealth program. Is it a scam? No. It’s not. Is it worth the money Cummuta charges monthly for his program? No. It’s not.
Nobody likes being in debt and most people will try anything get out of debt fast. It doesn’t happen overnight but it can happen faster than you might expect. And you can do it with John Cummuta’s Transforming Debt Into Wealth program. But there are steps you can take to side step the program and get out of debt yourself.
 Even if your credit cards are maxed out and you have a huge mortgage to pay off, you can still get rid of all your debt in about five to seven years – and begin rapid wealth-building – without sacrificing the things that matter most to you!John Cummuta, Scam? Nope. |
While John Cummutta has an easy way of eliminating your debt and though his program has helped thousands of people get out of debt and take back control of their lives, subscribing to his program will cost you a substantial amount of money that could be used to pay off your credit card or payday loans faster.
I do like the program, don’t get me wrong; but after reading through it I promptly returned it to avoid future billings. All the information you gain is pretty straight forward and legit but doesn’t require you to keep the program much longer after learning the process. You will succeed in turning debt into wealth, but honestly the program isn’t worth keeping it longer than the initial trial period.
Basically what you do is evaluate all of your monthly expenses and debts and add them up to find your total monthly debt. Then you take 10% of your monthly pay and put that money toward your credit card debt on top of the monthly payment you already pay. That creates a snowball effect of debt elimination and pays down your balance faster while costing you less in interest fees.
The one thing I didn’t agree with this method is John says to pay down your smallest debt first. People feel better when they see results and paying off a smaller debt first offers instant gratification of sorts. However, if your largest credit card debt is on a high interest credit card than your smallest debt you are paying more in interests anyway. He should amend his Transforming Debt Into Wealth program to paying off highest interest debt first.
There is a download available with the Transforming Debt Into Wealth program which is basically a webinar. It’s full of great info but can be a little droning. Mr. Cummuta has a way of cutting to the chase though. You have to with this kind of information, the topic is so boring you’d fall asleep otherwise. He lays it out in a step by step guide which is very easy to follow. It’s not revolutionary information but it is a practical way to eliminating your debt and getting debt free fast.
The one thing I did enjoy about the program is the motivation John offers after you’ve obtained your debt free goals. He says to take that same money you were putting towards your debt elimination and put in into savings. If you drop that money into a 10% interest savings account by the time you are ready to retire you could have a sizeable amount waiting for you.
There are other programs out there like John Cummuta’s but his is the simplest and easiest to understand. I recommend that you purchase it, keep it for the trial period and then return it if it doesn’t work for you. There’s nothing to lose by doing so. John Cummuta’s Transforming Debt into Wealth: A Proven System for REAL Financial Independence
 Even if your credit cards are maxed out and you have a huge mortgage to pay off, you can still get rid of all your debt in about five to seven years – and begin rapid wealth-building – without sacrificing the things that matter most to you! |
The John Cummuta scam is nothing of the sort. I used the program and found it very helpful. Mr Cummuta provides an incredible how-to for cutting corners. This book is a must read for every person trying to get out of debt. This is no turning debt into wealth scam, and don’t get me wrong, your article doesn’t suggest that it is, just a misleading title; but I think buying the program and returning before fully utilizing it is a mistake. The most incredible part of the program is all the stuff you get with it to help you turn your debt into wealth. I still haven’t got through all the audio training.
I found Cummuta’s method simple, straightforward and honest. And the process for investing after the debt is eliminated is the same; you will avoid a lot of the crap sold by Wall Street as “sure fire can’t miss” if you follow simple logic and ask hard questions up front. Don’t Bernie Madoff’s suckers wish they had asked even one question (show me the past 12 months investments and their returns) that Cummuta suggests.
I started using the program 2 years ago and found it to be amazing. I have recommended it to several family members and friends. Don’t be fooled by the ugly comments or ads advising you to go else where. I paid $256.00 for the program and have never been harrased, are called trying to sell me more products. IT WORKS !
you can get the same “program” in any quicken package — allowing you to track all your income/assets/expenditures/investments etc. They analyze the debt you have and you decide how much or how fast you want to be rid of that debt as well as provide suggestions on what to do with the same monies you ‘would be using’ to pay off debt as it is released. And, as Phil suggests, it does take the highest credit card interest rate – as it should for faster pay downs. All for less than a $75 dollars AND a software package that you keep and is useful! I have run many friends scenarios through mine and they are astounded at the results — no secrets guys – just an understanding of how to do it…
Cheers!
Ah yes, thanks for the reminder, Dianne. I’d forgotten Quicken had something similar and cheaper than John Cummuta’s program. His package looks good with all the bells and whistles, but you really have to fluff up a this kind of program when it really is so simple to execute on your own or if you aren’t aware of other cheaper debt elimination calculators and software. Good stuff.