Review: Finding the right way to debt relief for you
Rating: 4 out of 5
Date: 12 22, 2012
Everyone owes a debt right now; with this economy we cannot help it. Either your house is up for foreclosure of you need to pay off your credit card, you owe money to someone.This book's promise is that it's going to teach us how to get a debt relief. Let's see if it delivers.The first part talks about what is debt. While most people have some idea of the concept, this was pretty educational for me personally. Reading these explanations and definitions did help to correct some of misunderstandings I had about the basic concepts of loans, and the Good VS Bad Debts chapter was particularly illuminating.The actual debt relief section of the book expands on that foundation. It starts with the four ways to deal with your debts, of which debt relief is only one option and the explanation why you might want to opt for it, in my opinion, is actually worth the price of admission here.Debt management plans, consolidation loans, bankruptcy, and settlement are discussed in depth in this part of the book. Even the tricky game of balance transfer credit cards is mentioned. I like the following quote, that does show the attitude of the authors towards the subject:"Your choice of debt relief option will depend not on how much you want to save but by your financial capabilities. In essence, you do not really choose which option you will take. Instead, you find out where you qualify."I think this is the lesson that this book can teach us - before we start acting to reduce our debts, we really should  have a good, calculating look at our actual financial capability and capacity first and only then figure out what is the best relief option for us.The rest of the book is dedicated to creating budgets, payment plans, rebuilding your credit score and finally some helpful tips on staying out of debt in the future.All in all, this is a pretty well written and formatted book that I found rather helpful. I do wish there would have been more examples and  sample calculations included to help with the theory, however. But otherwise, well done!4.5 out of 5 stars.