ARA Review by Mxyz of Debt Cleanse

[Mxyz]

[Following is an OnlineBookClub.org ARA Review of the book, Debt Cleanse.]

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5 out of 5 stars

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Great book for understanding the nuances and strategies for getting rid of your debt

The first thing I would say here is that I'm Canadian and that the book is aimed for Americans. I would also say that I am not in debt myself (outside of a mortgage) and I am not interested in cleansing my debt in any way, but I always go into every book I read trying to learn something new for myself, which I certainly did here.

Jorge first provides a great overview of debt. You are likely aware of the different kinds of debt there are: mortgages, credit cards, car payments, medical bills and student loans are likely the big ones, but he also covers a few more. Again, I like to keep myself out of debt of any form, but it is good to understand the different forms of debt there are.

Furthermore, the first few chapters talks about the preparation for cleansing your debt. I found these chapters to be quite interesting as someone that is not interested in debt because it is a good way of managing your assets in a way so that you can take more risks (for example, if you are an entrepreneur, setting up a LLC to minimize the impact that debt can have on you).

Jorge's chapters then go into specific situations such as mortgages or student loans and I found his book easy to read and follow. He provides word for word templates and instructions for approaching and cleansing each of these types of debts. For example, he walks through exactly how to cleanse yourself or your house mortgage, talking about the specific strategies that he would use and the actions that the lenders will take. He writes in a way that makes me believe he has been through this before and so writes from practical experience rather than theory.

Another thing I like about each of the chapters is that they are well-researched. At the end of every chapter, references are provided to articles, links and other resources, so even though the author may be writing from personal experience, this is backed by thorough research into the process.

I give Debt Cleanse by Jorge P. Newbery 5 stars out of 5 for its informative, detailed approach to cleansing your debt.

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