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DEBT - Another Four-Letter Word

© Donna Dunn

A Thrifty Book Review - REPAIR YOUR OWN CREDIT AND DEAL WITH DEBT, Brette McWhorter Sember, Sphinx Publishing (Sourcebooks, Inc.) 2001

Some are born thrifty, some achieve thriftiness, and some have thriftiness thrust upon them.

If you fall into that last category, there's a good chance you have some debt and credit issues that need to be resolved.

You're not alone. It's a fact: it's much easier to get into debt, than to get out of debt. Millions of us have learned that little nugget the hard way. But who do you turn to when your debt and credit situation is giving you sleepless nights?

Well, ideally, the same person who helped get you into this mess in the first place: yourself. With a little help of course, from lawyer Brette McWhorter Sember and her new book REPAIR YOUR OWN CREDIT AND DEAL WITH DEBT.

Part of a series of Legal Survival Guides from Sphinx Publishing, REPAIR YOUR OWN CREDIT AND DEAL WITH DEBT spells out, step-by-step, specific actions you can take to control your finances. Written for consumers in the United States, the book provides nine information-packed chapters, 31 forms and sample letters you can copy, as well as pertinent federal statutes, and a brief, easy-to-understand glossary of financial terms.

If you think you can't fix your credit problems yourself, think again. Because, intimidating though it may seem, when it comes to credit Sember says in her book :

"There is nothing that a credit repair agency can do for you that you cannot do yourself. There is no magic involved in credit repair and there is nothing so highly technical that the average consumer cannot handle." (p.60)

In her book, Sember doesn't waste any time proving her point. And if she doesn't spend a lot of time commiserating with you, she doesn't judge you, either. Throughout her book, she keeps her eye on the ball. And the result is a concise, easy-to-read manual that empowers consumers, even those of us who may be dealing with the practical and emotional costs of high debt and poor credit.

The first two chapters of her book tell consumers how to assess their finances and how to read a credit report. Sember also provides some information about the Federal Fair Debt Collection Practices Act, a helpful reminder right off the bat that consumers, even those in financial crisis, still have rights, as well as obligations. And once you've read and understood your credit report, Chapter 3 tells you how to start making some positive changes.