If he practices what he preaches, he would also preach bankruptcy as we all know he has personal experience with it.  He lived the highly leveraged lifestyle until he had to pay the piper.  He didn't work to pay off debt then and he didn't file reorganizational bankruptcy which he could have done with his business.  Instead he let the laws wipe his slate clean.  He started over and never had to make good on any of the money lost by banks or other business he had dealings with, yet he tells others to avoid bankruptcy.  Know quite a few people who have taken bankruptcy and do not look like they had a "gut wrenching" time as he says happens.  They actually looked quite happy.  Final interesting point about him, he recommends no credit cards, yet he willingly accepts credit cards as payment for the very people he wishes to "help".

In all my years of attending work related business seminars, financial seminars and motivational speakers, a high percentage of these people who were being handsomely paid for talking at the seminars and meetings had a common thread, BANKRUPTCY in their past, some more than once.  Just makes a guy wonder about their advice.