Managing Debt for Dummies covers the various types of debt, including secured and unsecured debt, personal loans, car loans, mortgages, home equity loans, lines of credit, credit cards, finance company loans, student loans, and so on. It also shares how to develop a debt mindset to help readers think about and relate to moneyessential information for many readers who have gotten caught up in the Buy Now/Charge Now mentality. It covers quick and easy ways to distinguish between good and bad debt, create a debt-busting budget, start a filing system to track debt and protect life after debt, It will advise on smart spending, various options for taking control of finances and paying down debt, including downscaling lifestyles, selling assets, making more money, consolidating debt, slashing spending on groceries, clothing entertainment, and more that will help keep consumers from feeling like paupers. Further more the book offers advice for consumers on what to do if they fall behind on a mortgage, car payments, rent, utilities, loans, child support, and past due taxes. It covers how to select a MasterCard or Visa (unsecured and secured) and how to use credit cards responsibly. The book also teaches readers about the kinds of credit cards they should avoid.Bank loans, including the criteria banks use to determine to whom they will loan money and the terms of their loans as well as the difference between a secured and an unsecured loan. Readers also learn about the kinds of loans they should avoid, which debts to pay, and which ones not to pay when they cant afford to pay all of their creditors. This information is important because too often consumers who are unable to make ends meet pay the wrong creditors.
Book Details:
- Author: John Ventura
- ISBN: 9780470084861
- Year Published: 2007
- Pages: 312
- BISAC: BUS006000, BUSINESS & ECONOMICS/Budgeting
About the Book and Topic:
Managing Debt for Dummies covers the various types of debt, including secured and unsecured debt, personal loans, car loans, mortgages, home equity loans, lines of credit, credit cards, finance company loans, student loans, and so on. It also shares how to develop a debt mindset to help readers think about and relate to moneyessential information for many readers who have gotten caught up in the Buy Now/Charge Now mentality. It covers quick and easy ways to distinguish between good and bad debt, create a debt-busting budget, start a filing system to track debt and protect life after debt, It will advise on smart spending, various options for taking control of finances and paying down debt, including downscaling lifestyles, selling assets, making more money, consolidating debt, slashing spending on groceries, clothing entertainment, and more that will help keep consumers from feeling like paupers. Further more the book offers advice for consumers on what to do if they fall behind on a mortgage, car payments, rent, utilities, loans, child support, and past due taxes. It covers how to select a MasterCard or Visa (unsecured and secured) and how to use credit cards responsibly. The book also teaches readers about the kinds of credit cards they should avoid.Bank loans, including the criteria banks use to determine to whom they will loan money and the terms of their loans as well as the difference between a secured and an unsecured loan. Readers also learn about the kinds of loans they should avoid, which debts to pay, and which ones not to pay when they cant afford to pay all of their creditors. This information is important because too often consumers who are unable to make ends meet pay the wrong creditors.
Credit Repair Kit For Dummies has shipped more than 6,167 net units in the little more than two months since its publication in November 2005. In 2005, 47% of households had been called by a debt collector in the U.S. According to The Plastic Safety Net: The Reality Behind Credit Card Debt in America, consumers owe a whopping $800 billion in credit card debt, which represents an increase of almost 31% just since 2000. Managing Debt For Dummies puts emphasis on various types of debt and instruct readers on how to approach it. Nearly 30% of Americans carry more than $10,000 of non-mortgage-related debt as reported in the most recent statistical release by the Federal Reserve. Just over 1 in 8 Americans are using 80% or more of their credit card limit. According to Moody’s, the percentage of delinquent credit card payments rose to 5 percent from 4.3 percent. Card write-offs increased to 6.4 percent from 5.6 percent. (10/2004) With more and more debt, consumers struggle to pay bills on time and delaying payments leads to bad credit ratings. On average, today’s consumer has a total of 11 credit obligations. These include credit cards (such as department store charge cards, gas cards, or bank cards) and installment loans (auto loans, mortgage loans, student loans, etc.) (Federal Reserve). Although many cash-strapped consumers may be able to make ends meet, a large unexpected expense, a downturn in the economy, which could cause interest rates to increase across the board, a collapse of the real estate market in their area, an expensive illness in their family, a job loss job or the loss of a client if a consumer is self employed, is apt to spell disaster. Managing Debt For Dummies will show readers how to save and protect money for emergencies while still managing and paying off their debt.
About the Author
John Ventura (Houston, TX) and Mary Reed (Austin, TX) have co-authored a number of books on topics related to consumer finance and consumer law, including the 2nd edition of Divorce For Dummies. John is also the author of numerous other books including Law for Dummies, 2nd edition. Mary has ghostwritten 12 books on a wide variety of consumer finance topics, written on consumer legal matters for Good Housekeeping Magazine and she ghostwrote a column on money and legal matters for a Texan business journal for 12 years. Ventura has also been quoted about credit and debt in such publications as Newsweek, The New York Times, The Wall Street Journal, Kiplingers Personal Finance Magazine, Money Magazine, as well as by Bankrate.com, MSN Money.com, and CBS MoneyWatch.com, among other print media.