The Poor Man’s Way To Riches

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The Poor Man’sWay to RichesbYVol. 1

The Poor Man’s Way to AugustJanuaryJulyMayApril1st printing2nd printing3rd printing4th printing5th printing6th printing7th printing8th printing9th 0198119871977, 1978, 1979, 1980, 1981, 1987A// rights reserved. Printed in the United States of America. No part of this book may be usedor reproducedin any manner whatsoever without written permission except in the case ofbrief quotations embodied in critical articles or review. For information,write Elite Publishing,suite 600, 2676 Fletcher Parkway, El Cajon, CA 92020.This publication is designed to provide accurate and authoritative information in regardto the subject mater covered. It is sold with the understanding that the publisher is notengaged in rendering legal, accounting, or other professional service. If legal advice orother expert assistance is required the services of a competent professional should besought.Libraryof CongressPrintedin the UnitedCatalogCard No. 76-62865States of America


INTRODUCTIONYou can have all the money you want if you know how to get it.It doesn’t matter if at the moment you are flat broke either, because theknow-how in this book will show you how to smash any obstacle in yourpath. It doesn’t even matter if you are up to your neck in bills, I’ll showyou how to get immediate debt relief and then borrow your way to afortune starting with ZERO CASH.It has taken me a staggering amount of labor to compile this report.Please don’t make the mistake of underestimatingits worth because ofWhile your cost is only a few dollars, it has takenits “compactness.”me years of experienceand thousands of dollars to accumulatethisinformationand get it in print. I hope you will reserve judgement untilyou’ve finished the last chapter.To be frank, I don’t see how anyone could fail to profit enormouslyfrom this informationsince there are so many plans and opportunitiespresented.Naturally the book itself cannot make you rich, nor can anybook. You will have to make yourself rich by using the principles andplans I’ve outlined.The plans cun make you rich! How far you go is upto you and how closely you follow these instructions.Most people are their own obstacle to making aLet’s face it:fortune because of doubts, hesitation, and rationalizationsof our failures.I am a firm believer in positive thinking, but also in positive action! It stilltakes planning and thinking on your part to make money.HOW TO GET RICH. accordingto the late J. Paul GettyJ. Paul Getty was once the world’s richest man, and he laid outsome very clear rules for accumulatingwealth. They are simple and to thepoint, but don’t make the mistake of brushing them aside as mere generalitieb. These are real “hard-nosed”axioms for success. Here they are:Rule One:Rule Two:Rule Three:Rule Four:Rule Five:To acquire wealth, you must be in your own business.You must have a workingknowledge of your businesswhen you start it, and continueto learn more as yougo along.You must save money in your personal life, and in yourbusiness ventures as well.You must take risks, both with your own money and withborrowed money.You must learn to not only live with tension, but to seekit out.-3-

Rule Six:Rule Seven:Rule Eight:Build wealth as a byproductof your business success. Ifwealth is your only object, you will probably fail.Patience.This is the greatest business asset of all.Diversify at the top.And there you have it. The rules a billionairesaid were essentialfor success. But, of course these rules assume you are already highlymotivated.If you aren’t, you will have to motivate yourself before youcan succeed.Through the years I discovered the necessary elements for keepingmotivated at all times. By followingthese five points, there is no limitto what you can do. There is nothing you cannot accomplish.HOW TO MOTIVATEYOURSELFKnow HowThe only way you can build confidence in yourself and your plans isto know what you ure doing. Far too many people launch into ventureswithoutenough information.They start out with blind enthusiasm andwind up in total despair.So, before you take that plunge, know what you are doing. Be fullyinformed, know what can go wrong, and try to anticipate problems aheadof time. To help you, I’ve included a bibliographyof many more finebooks which expand on the informationcontained here.When you know what you are doing, then you automaticallyacquirethe self-confidenceto make your plans and take the calculated risksnecessary in most business ventures. Then you are ready for the nextstage.SpecificGoalsYou can’t go anywhere until you first decide exactly where you wantto go. So, make your goals specific. Don’t say to yourself that you wantto get rich; say, I want to be eurning 100,000 within two years. Or, Iwant to be a millionaire within five years.A goal without a time limit is like a gun without ammunition.It haspotential,but no value. When you place a time limit, your thoughtsand plans automatically“gear up” to face the task. You know wherethe finish line is and how long you have to reach it. This adds pressureto your program.Your goal should be broken down into stages or steps to be completed, say each month. This becomes your overall plan to reach your goal.Put time limits on each individualstage of your plan. A journey of a-4-

thousand miles begins withyour plans - step by step.the first step, and that is the way you makeDesireYou must cultivate a burning desire for success. You can’t just mildlywant it. You must need it as badly as you need food and water to survive.What you need to survive, you get at any cost. When you can convinceyourself that you need success as much as you need food to eat, it willcome. No obstacle will stop you.Most people want to be successful, but very few have the tremendousneed to be successful. That’s why the “success story” is such big news it’s uncommon.Of course success doesn’t have to mean a “milliondollars.” It canalso be a business of your own, financial security, learning a skill, or evenclimbing a mountain.Each of us has a different picture of success. But,whatever it is, you must develop such a need for success that you becomea virtual fanatic.Self-imageAnother reason for lack of motivationis the poor mental image wehave of ourselves. We lack confidence because we believe we aren’t capable of achieving the things we most want to do. All our life, most of ushave been conditionedinto believing that riches and success go to thefavored few. We have been led to believe that we aren’t “smart enough,”or “lucky”enough to find success and happiness.How can this be changed? By simply making your desire into a need.It becomes a driving force which will smash any obstacle in your path.As an example, you are lost out in the desert withoutwater. You areweak and you despair. But suddenly a water hole appears . . . it is somedistance away. A hard painful effort is needed to reach it. You knowthis, but you also know something else: If you don’t reach it, you die.You have no choice. Your doubts and fears vanish. No degree of difficultyor level of pain will stay you. The need to live will see you through.By setting your goal, writing it down, and repeating it to yourselfoften enough, you establish your need firmly in your subconscious.This is a process of self-hypnosis.Visualize your goal vividly each nightbefore droppingoff to sleep. This is when your subconscious is mostreceptive.Every free moment you have from now on, I want you to use itto PLAN & THINK about your financialgoal. Keep asking yourself,“What specific plans will help me make the amount of money I need?”Sooneror later, yourcomputer-subconsciouswill bring you the answer.

PersistenceNever give up! The person who perseveres is destined to succeed.It is a fact that more people have given up the game on the goal line(simply because they didn’t know they were there) than at any otherpoint on the field.Just one more try, just one more bit of stubborndeterminationwould have carried them on to success.SummationKnow HowSpecificGoalsDesireSelf-imagePersistence-6-

SECTIONONEHOW TO GET DEBT RELIEFIN 90 MINUTESThis section is NOT a course on how to balance your budget - youcan learn that at your local library.What you will learn here is the kindof informationgenerally unavailable in most libraries - How to use littleknown laws and legal tricks to obtain immediate relief from your debts.All of the methods I researched are included here. Regardless ofyour present situation, you can easily find a method for avoiding paymentin this revealing chapter.DELAYINGTACTICSThere are several good methods of delaying payment indefinitely.If your financial difficultyis only temporary, you may want to use someof these techniques.Answer collectionlettersBe certain that you make no specific promise of payment.Be briefand apologetic.A short letter explainingyour difficultyshould gaina two or three month delay.DramaticappealIf the heat is really on, you may want to try the “dramatic letter.”You should express your determinationto pay your bill despite overwhelming odds. Such a letter can delay payment for six months or more,giving you time to get back on your feet. Here is an example:Dear Creditor:Since last March, my family and Ihave been under considerable financialand emotional strain. My wife was involvedin a serious automobile accident whichresulted in the amputation of one leg. Sheis still under medical supervision and willnot be able to resume her former job.In addition, I have been temporarily laidoff from my job. However, we are barelymanaging to get by on my wages from apart-time job. In spite of these obstacles,-7-

I fully intend to resume payments on myaccount as soon as possible.I truly appreciate your cooperation andunderstanding in these trying times.Very Sincerely,John DebtorUse Status PloysDebtors of real or apparent worth are usually treated with “kidThe creditor’s notices and demands are carefullygloves” by collectors.For this reason, a graceful apology andworded to avoid giving offense.a promise to pay by some indefinite date is much more effective comingfrom the rich than from the poor or middle-class.You can help create the illusion of wealth by using expensive TiffanyWhen you write (or call),stationerywhen you write your creditors.Instead, tell them you are in a temporarynever admit you are “broke.”Explain how you suffered a minor set-back in the commod“cash-bind.”ities market.Another excuse could be that your accountantis off onvacation and that he must approve your check when he returns.Threatenthe CollectorThe favorite tool of the collector is the threat of legal action. This isyour chance to turn the tables and issue your own legal threats.Threaten with bankruptcy.This is the last thing your creditor wantsto happen. Almost always, a threat of bankruptcy will suspend collectionefforts.Do not be arrogant with your threat. Just calmly explain thatyou have been discussing the advisabilityof bankruptcy with your lawyer.Threaten to sue. This threat is very effective if crude collectiontactics have been used against you.Illegal collectiontactics are quiteFor example,common and you may indeed have grounds for a suit.suit for extortionis possible if you are threatened with criminal actionsince debt is a civil matter. Any letter to your employer that is defamatory can be grounds for a libel suit.Similarly,any contact with yourneighbors which may characterize you as a deadbeat, may be sufficientAt the very least, such collectiontacticsgrounds for a slander suit,deserve the threat of a suit - thus delaying collection efforts for months.If you use the threat, be sure to deliver it in a calm manner for it to beconvincing.Threaten to complain to the FCC. Telephone collectors often callat inconvenienthours, use abusive language, and sometimes try to frightenfamilymembers with empty threats.If this should happen to you,remember that the Federal CommunicationsCommission prohibits such-8.

tactics. The Postal Service has similar restrictions on the use of the mail.Your complaint to either one of them will almost certainly delay collection efforts.Of course, simply notifyingyour creditor that you intend tofile a complaint is usually all it takes to stop them.Make yourselfinaccessibleBy making yourself inaccessible, it is possible to keep your creditorsThe collectoris somewhatdependent on learning youroff-balance.intentionsand whereaboutsbefore he takes any drastic measures toHe will attempt to find you and shame you into paying, if atcollect.all possible.He also wants to know if you have a good job and whatassets you may possess. In other words, if a civil suit is to be institutedagainst you, he prefers to know if it is really worthwhile.Most creditorswill not even contemplatesuit for amounts under 500 - especially ifthey think you are out of work and with no assets which can be seized.Therefore,you should unlist your telephone number, ignore their mail,and completelyavoid any personal contact with your creditors.Afterall, you are not legally obligated to speak to them even if they come toyour home.Win a settlementIf you have stalled your creditors long enough, you may be ableThey will oftentimes settle for asto negotiate for a final settlement.little as 20 cents on the dollar if you can convince them it is their onlyrational choice.You can do this by either threateningbankruptcy,or convincingyour creditorsyou are leaving the countryfor an extended period.Explain that you prefer to settle your debts first, if possible, but that youcan only afford to pay a fraction of what you owe.The plan stands a much greater chance of being accepted if yourdebt has first been aged by delaying tactics.It is a fact that the oldera debt becomes, the less chance there is of it ever being collected.Yourcreditors know this and they usually agree to a settlement on old debts.STOP LAWSUITSAND PROPERTYSEIZUREUnmarriedwomen.Get married!Your husband is not responsiblefor your past debts and once you place all your assets in his name theycannot be seized.Married mcm. Transfer your assets to your wife’s name. Your wifeis not liable for your debts and assets in her name cannot be executedupon.-9-

Married couples. Move to a communityproperty state. If husbandand wife have separate debts, their bank account and other communityproperty cannot be levied upon for either one’s individual debts. Community property states include Arizona, California,Idaho, Louisiana, Montana, Nevada, New Mexico, Texas, and Washington.Transfer assets to your own corporation.If you own a small corporation,transfer your assets to it. Corporationsare considered a legalentity.As such, they cannot be levied against for the debts of the owner.If you stall your creditor longWait out the Statute of Limitations.enough, you may never have to pay. Although the time limits for collecting debts varies among states, it generally runs between 3 to 8 years.However,if you have successfully evaded payment for three or fouryears, chances are very good that your creditor has already given up.If you are consideringThe Soldier’s and Sailor’s Civil Relief Act.entering militaryservice to escape your debts, then you should knowthe special protectionyou are entitled to under this Act. For instance:1) Your earnings are protected from wagegarnishment.2) You may have any suit stayed on request;then the collector must prove that yourmilitary duty doesn’t interfere with yourability to defend yourself in court.3) A default judgment cannot be institutedagainst you unless you have been represented by a lawyer.This simple procedure will protect yourHomestead your house.home from being levied upon by creditors.The Homesteadinglawswere originallyintroducedto prevent creditors from taking away thelands of farmers who couldn’t pay during drought years. The amount ofprotectionis set by each state and varies widely.Thus, in the amountprescribed by state law, your home is also exempt from seizure even ifyou file for bankruptcy.Homesteadingforms are available in largestationeryand office supply stores.Fill out the forms and have themnotarized.Then file them at your county courthouse.It’s that simple.Judgment against you is obtained in one ofFile u general deniul.three ways. First, if you appear in court and affirm the claim againstyou.Secondly, if you fail to appear in court, a default judgment willbe granted your creditor.And the third way is if you appear in courtto deny the claim and lose the case.If you are served with a summons to appear in court, you shouldfile a general denial. This serves notice to your creditors that you intend-lO-

to fight.Your strategy is to convince the collector to give up. Courttrials can be expensive - especially when legal action is being contested.To file a denial, go to the civil court specified on the summons.Give the summons to the court clerk and tell him you want to file aRemember, you have more than just a bluff if the goodsgeneral denial.for which you owe money are defective.It is almost routine for default judgChallenge a default judgment.ments to be awarded to creditors withoutthe debtor even being serveda summons to appear in court.If you receive a notice of intent to enterdefault judgmentagainst you, write the collectionlawyer.Explainto him that the default judgment was illegally obtained since you neverreceived the summons.Tell him that any further action toward youwill result in legal action on your part. Send copies to the judge of thecivil court, the attorney general of your state, and the local Bar Association.Keep in mind that a summons stuck in your door while you are awayhas NOT been properly served - it MUST be delivered to you personally.Otherwise, who can prove you ever received it?Employ the Uniform Commercial Code. Consumers have recoursecontracts”if they live in a stateto UCC provisions of “unconscionablewhich has adopted the Uniform Commercial Code. Deceptive contracts,tricky language, misrepresentationof products and services, or an extremely unfair price, could be sufficientgrounds for a court case and thedischarging of a contract. The mere threat of starting a court case may beall that’s needed.This little-knownfederal law can stopFile a Wage Earner Plan.This plan is provided for underyour creditors cold within 90 minutes.However, it is not bankChapter Xl I I of the Federal BankruptcyAct.ruptcy since none of your debts are actually discharged.Anyone whoearns a living from wages, salaries, or commissions can use it. The planUnder this plan,is, in effect, a court supervised debt turn over all your debts to a federal court.The court then paysyour creditors from a portion of your income.The amount you pay is calculatedby subtractingyour normalmonthlyliving expenses from your income. The balance is the amountyou send to the court for distributionto your creditors.For the planto be accepted, you must design it so that your payments are enough topay off your creditors when spread over a three year period. When yourpayment plan is accepted by the majority of your creditors, it MUST beaccepted by all of them.How to file.First, visit the United States District Court and askto speak to the referee who handles these proceedings. You will be givense

The Poor Man’s Way to Riches Publishing History 1st printing 2nd printing 3rd printing 4th printing 5th printing 6th printing 7th printing 8th printing 9th printing December 1976 June 1977 January 1978 December 1978 August 1979 January 1980 July 1980 May 1981 April 1987

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