Review by Khillard -- Debt Cleanse by Jorge P. Newbery

[Khillard]

[Following is a volunteer review of "Debt Cleanse" by Jorge P. Newbery.]

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4 out of 4 stars

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Debt Cleanse: How to Settle your Debts for Pennies on the Dollar (And Not Pay Some at All) by Jorge Newbery

The author, Jorge Newbery, does an excellent job showing debtors how to save money on paying debts in this tell-all book that creditors will not be happy that debtors can take steps to literally pay pennies on a dollar or not pay at all. It is written in very easy-to-read language and follow all steps. Word-for-word letters a debtor can actually send to creditors/debt collectors are provided in each chapter as well. The author details the financial crises debtors get into that cause financial ruin. Due to a natural disaster the author was straddled with more than 26 million dollars of debt which he knew he would not be able to pay. The debt collectors continuously called him and kept coming after him months to years. He found an error in the contract by the lender and 5.8 million dollars of his million-dollar debt was extinguished by the Court of Appeals. The steps and advice he provides in this book are the very ones he took when his financial stability crashed.

When debtors can no longer afford their mortgages, student loans payments, automobile payments, or medical bills this 288-page step-by-step book is their answer. The chapters include judgments, mortgages, vehicle loans, business loans, secured and unsecured personal loans, credit cards and medical bills. One of the latter chapters includes "Action Tools" which are documents debtors can actually use and send to the lender/debt collector regarding the debt under the collection process. There are interrogatories which are a series of questions to be asked by a debtor and their attorney to question the lender or debt collector under oath. The letters contain specific wording and formatting with directions on when to use each letter. What I find really valuable is the author goes into detail what a debtor's rights are under the Fair Debt Collection Act. The Fair Debt Collection Act prohibits debt collectors from threatening debtors with being arrested for not paying their bills. The only cost to read and follow the the author's recommendations contained in the book is the price for the book. This book is a wealth of information for those taking on debt collections by themselves. The author's website, debtcleanse.com, which he promotes very frequently throughout the book, has attorneys on staff that debtors can work with in making their case and simply not pay. The author does state in a few cases the debtor may not win but finding errors in contracts or lender's representatives and debt collectors testifying under oath making mistakes can sway this more in the debtor's favor. If the debt is not erased or reduced for pennies at least the debtor can move on.

What I liked about the book was the outlined process of dealing with debt collectors, the clear steps of not paying debt and becoming debt free. In the chapter on auto loans, Mr. Newbery details the steps with letters a debtor can use to negotiate the collection process if the automobile is about to be repossessed. The author details where to locate errors in paperwork that could actually aid a debtor in winning a settlement such as when a dealership marks up the income a buyer has compared to the buyer's actual income causing high payments that the buyer defaults on and then faces repossession. In the mortgage chapter, he details how the homeowner can legally fight the lender and try to get the mortgage to an affordable payment and negotiate better terms. By following his advice these steps allow the home owner to stay in the home longer, even years just by the negotiations. In the case of a foreclosure, it may even be possible to buy the home back after the sale of the home by the utilizing the steps he outlines. If legal help is needed at any point in the process, if the debtor becomes a member on debtcleanse.com website, attorneys are available to assist them.

What I disliked about the book is even though I am a consumer and have several types of debt other people have I like the idea of not paying my automobile payment or my mortgage payment because then I could buy items I would really like to own. However, the author did not address how bad these steps affect credit scores of people seeking credit when they need it. For instance, we need credit for our automobiles, apartments, homes, and health. Many property management companies do credit checks to see if a person is credit-worthy to make the rent payments. If the credit score is already not in good standing because debts are in collection for nonpayment adding a civil judgment or two causes that credit score to drop even lower forcing the individual to pay higher insurance payments or not obtain housing.

I give this book a 4 out of 4 stars as it is written in understandable language, provides letters word-for-word, and lays out the steps in chronological order for use when dealing with debt collectors, their constant calls and letters regarding repossession; judgments; or foreclosure. This book was professionally edited and free of errors.

I recommend this book to other readers especially if they are faced with a financial crisis and need to know the ways to fight the lender/debt collector and how to pay pennies on the dollar or simply not pay for any of the debts they are struggling with.

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Debt Cleanse
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