3 out of 4 stars
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Debt Cleanse: How to Settle Your Unaffordable Debts for Pennies on The Dollar (And Not Pay Some At All)
The author Jorge P. Newbery, seeks to share his experience on how he got rid of all his debts and the strategy he used in doing so. This book is a departure from the average literatures on debt management that tend to advocate prompt payment. However, he cautions the readers to be prepared for bad credit ratings if the strategies are followed.
There are fourteen chapters in the book detailing different loan types. They include mortgages, vehicle loans, student loans, business loans, personal loans(secured and unsecured), medicals bills, e.t.c. Each chapter has unique headings in relation to it, which make them quite unforgettable. Chapter fifteen contains action tools such as document requests, deposition questions, request for admissions,e.t.c. These would serve as arsenals to use in fighting creditors.
Newbery is not necessarily saying that one should not pay his debt, but rather to find creditors' weaknesses and exploit same. The instructions are simple, understandable and easy to follow as he used real-life experiences unlike other books on debt management. I particularly like the online community created by the author, with the aim to support members and also share their personal experience.
I don't like the fact that Debt Cleanse addresses only people living in America. Some of the guidelines may not be applicable elsewhere because of differences in judicial systems. However the information is worth knowing, as he covers how credits brokers and collection agencies operate. He also delved into different states and their peculiar laws by which they operate.
Though the book is well written, it kept repeating the debt clense sequence from chapter to chapter making it boring for me. I also noticed some typographical errors, where I had to re-read to fully comprehend his thought. I will rate the book 3 out of 4 stars because of the reasons above.
I'll recommend this book to people who are genuinely unable to pay their debts. It teaches how to life a fulfilling life, not over burdened with paying bills.
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