Critical Reflection On Debt Cleanse By Jorge P. Newbery

I am rating “Debt Cleanse” by Jorge P. Newbery three out of four stars. “Debt Cleanse” is an exhaustive study, as the subtitle promises, on “How to Settle Your Unaffordable Debts for Pennies on the Dollar (And Not Pay Some at All)”. The author details the lengthy process for dealing with the most common types of debt: judgments, mortgages, vehicle loans, student loans, business loans, secured personal loans, credit cards and unsecured personal loans, medical bills, payday loans and collection accounts. Although the process is basically the same there are some variations for the different types of debt. Mr. Newbery gives a step by step walk through for the process of settling or simply not paying each different type of debt.

This book is really not meant to be read cover to cover. It is better read as a reference book where one studies the chapters the specifically apply to your situation. The process of extinguishing or settling these debts is not an overnight proposition, nor is it for the faint of heart. It will take time, patience and perseverance on the part of the debtor. When you are done, you will have no credit rating and will need to plan to live on a cash basis for some time to come. In the final chapter the author explains the virtues of living without debt and explains the cost of debt to our national economy. The country would benefit, in my opinion, if we would have the discipline to follow his advice.

I liked the detail in which he covers the steps and process for dealing with each different type of debt. While there are many similarities there are also differences that are specific to the different types of debt that are important to note and exploit. The key is requesting copious documentation from the debt holder or collection agent and exploiting deficiencies in their processes and record keeping.

I learned a great deal about the tricks that lenders play on the uneducated borrowing public. These include unnecessary insurance, failing to disclose other add-on items included in the loan, adding extended warranties and so on. It was also interesting to learn about express and implied warranties in the used auto sales business. Even if I never need or choose to use the information to do a complete “Debt Cleanse” I will be a more knowledgeable and informed consumer.

I found myself getting bored with the repetitiveness of the information by the time I had read about all ten types of debt. However, if I were drowning in debt and planning to embark on the process the detail would be welcome and helpful. The other thing I did not like was the book continuously points the reader toward www. debtcleanse. com, the author’s paid on-line service to help readers take charge of their debt for just $29. 99 per month plus a $99 one-time enrollment fee. I’m not sure that this should bother me as it appears that this is a legitimate group who could prove helpful, and yes, I think one could implement the information in the book without the additional expenditure.

Debt is indeed a large and growing problem in the US. This approach offers hope for people who are fighting to survive and buried in overwhelming debt. It was very interesting to me to learn what happens to debt when one stops making the payments. It is reassuring to know that there is a way out if debt ever gets too oppressive. I have moral reservations about using this process except in extreme cases. I enjoyed how the author was able to inject a bit of humor while dealing with a very serious subject.

I did not find any outright typos, misspellings and editing errors. I will admit to not being the best proofreader in the world. I did find that many of the links in the bibliographies at the end of each chapter lead to “page not found” or to a website’s general directory rather than the article that was linked to directly. I’m sure this was due to changes on the various web-sites and their directory structure being changed over time. I was able to find many of the missing articles by searching. I wonder if it might be better to have a traditional bibliography without links for this reason.

This was an educational book on a serious and growing problem. It delivered good information and lives up to the promise in the title.