Tonight, KCAL9 devoted two minutes helping modern day alchemist Kenny Golde pimp a new “book” that details his strategy to virtually eliminate credit card debt. Here’s his plan:
“The credit card companies, the banks that issue credit cards, really don’t want to talk to you about settlements while you are current on your payments. When you get two to three months on your payments, then they start to get interested. Six to nine months on your payments – they’re really interested.”
That’s right: buy a bunch of stuff on your credit card (or finance a feature film, like he did), don’t make any payments, ignore the credit collectors for a few months, then finally give them a call an make a deal to pay a fraction of what you actually owe.
Golde was able to use this technique to lower his credit card debt from $212,000 to $30,000.
Tomorrow night, I’m hoping local news will devote a segment to the secret trick for getting free meals (pssst… it’s called “dine and ditch,” or “chew n screw”).