Radio Info-mmercials:REAL TALK with Don Burke

[Buffalo]

Has anyone heard any of these info-mmercials on the week-ends. Here in Phoenix, the airways during the week-end, on talk radio, are loaded with Don Burkes commercials touting the fact that he can rid you of ALL your debt in no time, at all. Credit card debt eliminated, in days. Car payments eliminited in short order. Mortgage debt eliminated in a couple of years.



This is one of those "Too Good To Be True" deals, I think. However, I really don't know. He has a very unique delivery. He calls you an "idiot" if you don't call him. He really likes you to be embarrased into dealing with him.



Often, you can hear him on more than one station, at the same time. His advertising costs have to be expensive. Seems like he's nation wide, also.



Fortunately, I don't need his service. I was wondering if anyone has had any dealings, or personal experience, with this guy & Real Talk? Curious as to how the system works & if it's legitimate!!! It doesn't make sense, to me.



Joe F.

 

[Gene Arnold]

I'm not familiar with what you refer to. However, there is a tried and prooven way to become debt free, and it is free. Log on to Dave Ramsey's website and find a station in your area that carries him. He's so practical it is refreshing. The basic formula for becoming debt free is covered in almost ever broadcast. If you need a book, you can buy his reasonably priced books at any bookstore. He also has what he calls Financial Peace University where students are taught more in depth. These are available all over the country, often through churches. There is a charge, but it is affordable. I think around $100. 00.



In a nut shell, his program is what he calls, the debt snowball. 1) Stop all buying on credit; 2) List all debts from smallest to largest; 3) Pay all you can, as soon as you can on the SMALLEST debt (ignore interest rate comparisons at this point); 4) When it is paid in full, put what you were paying on that one to the next smallest; 5) When that one is gone do the same with #3, etc. It is amazing how quickly the thing "snowballs. " The reason he ignores the interest rates is that he has found that the motivation for continuing the program is enhanced when you see these smaller debts falling off.



Along with this he stresses the need for an emergency fund so if "stuff" happens, you won't have to use credit to handle it.



WARNING: If you are attached to credit cards you won't like him. He is death on credit cards.



Gene