ARA Review by aparrish of Debt Cleanse

[aparrish]

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

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2 out of 5 stars

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Debt Advice for Millionaires: Debt Cleanse Book Review by Yi Woo Ae
2 out of 5

Debt Cleanse by Jorge P. Newbury is an admirable attempt at reaching the average US citizen but falls short of expectations.

Even though the author fulfills on expectations of what a book of this ilk should contain: horrifying statistics, definitions, and a personal plug for visiting a website, he does so in a way that even seems like a Deadpool (or “Debtpool”) competition, pun intended, of who can be in the most debt. Some frightening statistics that stuck with me are that half of females just making $100,000 (which is not actually as exciting as it sounds with inflation) fear they’ll become homeless.

The author’s life experience better reflects the Trump household than the average American. If you want to take advice from someone who’s been in your situation, don’t take advice from him. His amount of debt and his ability to reach that amount of debt is not even accessible to most Americans since he owned 4,000 apartments. His discussion of asset protection is not realistic for anyone who has never owned a business and has no interest in owning a business.

As someone who has owned real estate but is speaking to those who haven’t, his analogy of debt as a romantic relationship falls flat. I’m sure it’s more romantic to a person who can gain a substantial enough sum to propel him into the upper echelons of society.
On the plus side, he does address the racial wealth gap and even how slavery was historically used as a way to pay off debt (slavery was also historically used as the spoils for “conquering” a country), but he is not anti-racist in his practices as a non-Black person of color (NBPOC). He reminds me of when my white father nearing retirement gave me, an Asian woman starting my career, advice. He gives unrealistic and quite damaging advice, such as to stop paying creditors because they’ll just sell their debt to debt buyers.

Keep in mind that this book is about debt, not about improving credit scores. He’s even worse than Dave Ramsey in terms of how much he eschews debt because his advice is unreasonable, and he doesn’t consider situations that differ from his own. For example, for those whose employment is contingent on their credit score or for those who work in the private or public financial sector, this advice can hold with it a lifetime of hurt.

He tells people to prioritize savings because savings aren’t taxed, but there comes a time when even the best saver is limited if they’re out of a job and not eligible for unemployment insurance, which is perfectly possible since it can now take two months just to schedule to speak with a live person in Colorado during the pandemic (or three hours of wait time in Virginia).

Definitely read this with discernment. He will compare US statistics with the statistics of other countries, like India, but failed to mention currency rates and if these were actually apples-to-apples comparisons. Note that he doesn’t even take a good look at his own work and failed to hire a good editor. One can tell when reading “there a” where “there are” should have been.

Compared to other similar books out there, Debt Cleanse is more action-oriented, less historical, and a shorter read than Debt by David Graeber. Compared to Debt Cures by Kevin Trudeau, it’s actually less action-oriented as there are fewer website links and resources.

This book seems like a business owner doing business owner things. He used his extreme debt situation as an opportunity to create American Homeowner Presentation and directs the reader to a site (www.debtcleanse.com) that costs $299 for the average person but only $99 for a business owner. It’s clear where his preference, and perhaps his politics, lie.

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