KIRKUS REVIEW
In this guide, Sutton (Run Your Own Corporation, 2012, etc.) offers recommendations for avoiding and solving debt problems.
The author begins by asserting that “the credit industry actively entices all comers, especially the young and inexperienced.” In the first part of this book, he goes on to offer some overall guidelines for dealing with consumer debt. In Chapter 4, he explains a 10-step strategy, along with sample worksheets, used by one couple who “never seemed to make a dent” in the amount they owed. The author makes recommendations about debt consolidation and includes a lengthy chapter, “Getting Help,” that thoroughly explains the different kinds of bankruptcy and the process of borrowing against a 401(k). The second part of the book looks at specific kinds of debt, ranging from current mortgage troubles to tax debt. A section on student loans, for example, includes eight remedies for dealing with overwhelming loan payments. Sutton’s chapter on debt collectors asserts that negotiating with collection agencies is “one of the most important skills you can learn and hone.” The handbook’s third part deals primarily with credit reporting agencies, credit reports and how they’re compiled, and credit repair. Throughout, the author presents stories of real-life predicaments that enliven what might have otherwise been bone-dry material. For example, “Credit Reports” describes the yearslong misery of a failed entrepreneur: “Roberto...had taken some risks on a restaurant that didn’t work out.” Finally, a chapter on credit scams and good uses of credit is followed by three appendices, including a list of other helpful books and websites.
A fact-packed, easy-to-navigate resource for consumers concerned about debt.
