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A Very Useful Book for Learning Your Rights and Becoming Your Own Financial Advocate,
This review is from: Fight Back Against Unfair Debt Collection Practices: Know Your Rights and Protect Yourself from Threats, Lies, and Intimidation (Paperback)
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Fred Williams, a business journalist who has been writing about the collection industry since 1999, has written an excellent book that explains how debt collectors operate. The author knows his subject. In 2008, he worked for 11 weeks at a debt collection agency near Buffalo.
I thought this book would be a bit boring, but I actually found it to be interesting and empowering. He exposes the often downright dirty tactics that many debt collectors engage in. It's important to know how to fight back against such methods. Williams teaches his readers how to become their own financial advocates. Knowledge is power!
In the Introduction, (p.1) he notes "After reporting on the debt collection industry for years, I had heard countless stories about outrageous collection tactics. Debtors- or even people who did not owe money--recounted vicious threats and the lies that collectors used to squeeze them for cash."
Such threats warned "Their house would be seized, their family would be put on the street, or their children would watch as they were hauled off to jail." Williams says that consumer advocates assert that the industry, lacking any real restraints, is descending into increasingly harsh--and more profitable--practices.
It's pretty alarming, as it can be so damaging to individuals, as well as families. These kinds of tactics toward those who are already fnancially stressed out, can send them over the edge. This is why it's imperative to learn the in's and out's of the debt industry, and be prepared to fight against them. You do have rights! Use them.
Chapter titles include:
* Debt Collection Secrets
* Credit is King
* Anger Can Be Power
* Debtors Rebellion
* NLE Means No Longer Employed
* Coping with Collections
These are just a few of the chapters. As I read through each of them, I was struck by how ignorant I've been on this subject. It's not like they teach this stuff in school. Seems to me, in these times of increasing layoffs and downsizing, this subject is more important and pertinent than say, learning algebra. It's never too early, or late to learn. This subject is one that may affect most of us, at some point in life.
This book is chock-full of useful information. You'll learn about the Fair Credit Reporting Act, Fair Debt Collection Practice Act, credit counseling agencies, how to clean up your credit report, and much more. Learn about your rights and protect yourself. Also, you never know when a friend or relative may need some sound advice. I really enjoyed this book, learned a lot, and highly recommend it.