Yes it is true. You cannot stop Effexor cold turkey. Because it involves the seratonin and neurepinephrine in your brain, cutting the Effexor off cold turkey can cause many symptoms. Call your doctor to get on the prescription drug program either at a local pharmacy or through the pharmaceutical company and see if your doctor can hook you up with some samples until you can get the medications from one of those programs. There are programs out there designed to help people who do not have prescription insurance. I would advise looking in to these programs and not discontinuing your Effexor. keep us updated.
Withdrawing suddenly can be dangerous. Seizures are a possible consideration.
The doctor on the mental health expert forum would be better able to advise. I'm not sure if he is there though -he has been on leave.
If you are in the States I have heard that there are low or zero fee clinics you can attend. I have also heard people mention the possibility of obtaining samples of the meds off doctors. If you could access samples and withdraw off those that would be a better option. The doctor on the mh expert forum often uses a three week taper. You may find his taper program in the forum archives. Also you should discuss this with your doctor and withdraw under medical supervision.