Credit Basics
Getting out of debt
By Susan Morris
Sunday, September 25, 2005
Everything is relative, but probably near the top of everyone's list of nightmares
is having a mound of bills you can't pay.
The sad fact is millions of Americans are in this position. According to the Federal
Reserve, 43 percent of American families spend more than they earn each year and
almost half of Americans make only minimum payments on their outstanding credit
card balances.
How to make your life miserable!
If you'd like a way out of your financial mess or have family or friends who could do with some advice, read Howard S. Dvorkin's book, Credit Hell: How to Dig Out of Debt (John Wiley & Sons, Inc., 2005, $7.98). It is a basic primer with some good, solid information.
Dvorkin is a straight-forward writer who outlines in an easy-to-follow manner how to do everything from assessing the state of your finances, developing a workable budget to negotiating with creditors, consolidating debts and rebuilding your finances after your money troubles are over.
Credit Hell includes a long chapter on your money rights and laws that can protect you when applying for credit, using credit or if a debt collector is hounding you.
Dvorkin details how to order your credit report from each of the three national credit reporting agencies. He provides valuable formation about the critical credit score ... and what you can do to improve your score. You can also find out what to do with debts that need special attention.
Certainly getting out of debt takes more than reading a book. You have to be determined to turn your finances around. But you would get off to a good start by reading Dvorkin's book.
