The Do-It-Yourself Bailout Lib/E: How I Eliminated $222,000 of Credit Card Debt in Eighteen Months and Saved Nearly $150,000

by Kenny Golde (Reader)

In The Do-It-Yourself Bailout, author Kenny Golde explains how he completely and legally eliminated $222,000 in credit card debt, without filing for bankruptcy or destroying his credit score. Golde provides a step-by-step handbook on all facets of how to initiate settlement negotiations with banks, how to handle collection agencies, how to separate your emotions from your debt, and much, much more. The AudioGO deluxe version of The Do-It-Yourself Bailout book will include a special training seminar, not offered in the book, that covers the following topics: the five essential steps toward true financial health; a proven, effective method for talking about debt settlement with collection agents; how long debt settlement might take; how to release the pain, fear, stress, shame, guilt or anxiety that often comes with debt; how to take control of your financial life once and for all, and never give it up; why you should always get your debt settlement agreements in writing and how to do it; what a proper debt settlement agreement must contain; how debt settlement could affect your credit score and why it may not matter; and how to settle your debts for less than you owe even if you don't think you can afford an upfront payment.

Genres: Nonfiction, Audiobook

Audio CD

First published December 7, 2012

Reviews

[Amber · Rating 2 out of 5]

I listened to this one on Audible. I appreciated that the author had the courage to share his story but it wasn't what I thought it would be. I have student loan debt and I was looking for a way to pay off my debt as fast as I can but didn't feel like reading/listening to another Dave Ramsey book (I think he had great advice, just wanted something different).

This book was not that. It's about how you negotiate with credit lenders and how to settle your massive debts for less that what the company wants you to settle for. I don't like starting things and not finishing them, but this book was a bore and had different moments that made me want to quit. The author reads the book and since it's his story, I don't think he did a bad job. He was more animated than I feel others would have been reading this book.

If you're in a place where you have people calling you day and night to settle your debts, then I could see how this book would be helpful. But if you're just wanting to find a way to attack your debt like crazy and get it gone ASAP, then I would skip this one.

[Pucca · Rating 2 out of 5]

His situation is very unique. The average person would not be able to take this route.

[Sherry · Rating 4 out of 5]

For this type of book it was truly a good book. Because this guy was so much in debt and had such a hit or miss kind of profession you have to extrapolate to your own but he was so positive in the face of so much debt. In addition, his descriptions of how credit card companies and collection agencies are programmed to intimidate seems to be spot on. Finally, he puts debt settlement and bankruptcy in a business perspective that should really help anyone facing this kind of situation. It's not the technical side and only touches on the legal side of debt but its a good book about remaining positive and hanging in there.

[Gwen · Rating 2 out of 5]

I was hoping this would have information everyday people can actually use. Nope. Maybe not written by a 1%er, but... this is about what happens when a 5%er is considering declaring bankruptcy because the Great Recession happens while he's financing the rest of his indie film on his own credit cards. Ugh.

[Sabrina · Rating 2 out of 5]

I didn't really gain any information from this book but it was interesting to hear his story.

[Zachary]

Read to get insight into credit card/banking practices. Good for future negotiations. 😉

[Ana Justice · Rating 3 out of 5]

I listened to the audio on this one. Some good advice, but it’s only for someone who is almost in foreclosure or bankruptcy. I was hoping for some practical tips on decreasing small debt.

[Raquel A Savage · Rating 5 out of 5]

Very insightful book, wasn't sure what to expect from it although really happy I found it. I'm glad there is a ton of his own personal experience in it and he's very transparent with everything. I listened to the audio book and there was a clip of some type of event audio he was hosting about this too which was neat. Title might be a little misleading but if you want to learn from his situation it's definitely worth understanding the power of negotiation.

[Shanesa · Rating 4 out of 5]

I listened to the audiobook and appreciated the information in it. His situation was extreme so you don't have to follow his path, but take from it what will help you.

[Najela · Rating 4 out of 5]

3.5. It sounds doable. You have to be assertive, but it seems like it can be done as long as you do it correctly. I wish I had this as a physical copy so I can take advantage of the worksheets.