Book Description

Recently, reorganizations, restructurings, and bankruptcies have replaced IPOs as the common financial vehicle of the times. However, these distressed companies can still provide an avenue for profitable investing. This eagerly anticipated new reference helps guide you through this treacherous landscape in order to master the multi-move chess-like strategies required to achieve financially advantageous results for your portfolio. It is the most up-to-date and comprehensive book on the market to deal with the myriad of issues surrounding a distressed company.

Providing theoretical and practical insight, Distressed Debt Analysis: Strategies for Speculative Investors presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The book covers the broader financial environment of the reorganization and the basic process of investment analysis and investment strategies. The author uses numerous real-world examples and case studies to emphasize important concepts and critical issues.

The developments that have created these extraordinary investment opportunities have also created tremendous demand for professionals with experience and knowledge in the restructuring process. Distressed Debt Analysis: Strategies for Speculative Investors addresses the complete knowledge needs of investors and professionals in the burgeoning world of financially distressed companies. It is perfect for bankruptcy departments of law firms, restructuring advisory groups, turnaround consulting firms, and reorganization and distressed securities departments of investment banks. ... Read more

Book Description

A step-by-step action plan to quick and lasting recovery after personal bankruptcy.Indexed. ... Read more

Reviews (156)

The Book Works! The FREE Seminar Works, Too!
I attended Stephen Snyder's seminar a year ago in NY. I purchased the book and have used the non-profit organization's services to delete eight items from my credit report. Last month I applied for and was approved a $13,000-limit credit card with 25-day grace period and 9.99% ongoing APR. My FICO scores are up and I can obtain a no-docs mortgage with 10% down whenever I'd like. The book has many important ideas for bankrupt people and I also suggest going to the free seminar. I attended my second one in NJ this month (one year after my first one). I was remotivated and seriously look to continue my financial future. I can't wait for "Business After Bankruptcy" and the new bankruptcy magazine this winter.

UPDATE (10/25/2002):
With the help of Stephen Snyder and his legal services I was able to remove my bankruptcy from Experian. A typical bankruptcy remains on an Experian credit report from 7 - 10 years. I've only had my bankruptcy for 5 years. Pretty impressive!

Amazing advice!
Wonderful! The advice he has given has truly helped me to begin my financial life all over again. The book includes the names of well-respected companies that are willing to work with bankrupt consumers. The helpful hints on how to talk to future lenders and what to bring with you has also made a big difference. I was amazed on how much more information you can get from lenders if you just ask the questions the way he recommends! The author has also gone through a bankruptcy, which gives him much more credibility. I now have a credit card and am about to buy my first house and a new car thanks to the wisdom I received in this book! I also feel secure that I will not end up back in a grim situation as long as I follow his advice.

The book is written in a way that you do not feel ashamed of your bankruptcy. It gives you hope and a solid path for the future instead of reminding you of your failures.

Thanks Mr. Snyder!

Caveat Emptor
There appears to be a dichotomy here between reviewers who have gone to the seminars vs those just relying on the book to fix their credit. What's the point of the seminar if you've already read the book? Or the purpose of buying the book if you've already attended the seminar? The claims coming out of the seminar participants seem wild. Besides, no one should approach bankruptcy without full knowledge of the new laws pending in Congress. As another reviewer pointed out, things have changed in the past 10 years. Having a valid bankruptcy removed prematurely from credit, as another reviewer claimed they did with Steve's help, is extremely illegal if the purpose is to obtain credit fraudulently. I wonder if Steve takes personal checks to repair credit at the seminar -- or whether he requires all cash from the recently bankrupt?

on the road to recovery
I read the review by ebay_princess. Obviously she didn't truly read this wonderful book. Mr. Snyder does not talk down to women. Instead, he encourages husbands to listen to their wives and their "sixth sense." Each chapter is a step to be learned in the recovery process, so no - there is not a graph showing the steps to take. There's way too much information to consider to print it in such a way. There's many ways to establish credit. This book is for people who want to learn the RIGHT way to do it. Mr. Snyder's examples of his previous thinking (that Ford sucks) is written in a humerous way that tells us all to "build a bridge and get over it" if we want to do this the RIGHT way. I would recommend this book to anyone wanting to reestablish their credit, whether bankrupt or not.

CRASH COURSE IN RELIGION?
I should have read the reviews a bit better BEFORE ordering this book! Not only is there NO "step-by-step" guide to repairing your credit, but this man is just plain offensive! He makes sexist pig comments such as how he is the "leader" of his house, but he takes his wife's opinion into consideration....well how nice of him!
I hope no Ford Motor Company employees purchase this book, he also comments on how when he found out a Ford was about the only vehicle he could purchase after bankruptcy they were "scared it would fall apart" being a measly American made vehicle and all. How embarrassing to have to call this man a fellow American!
If you want to read about how jesus saves, women are morons, and american made items are junk, buy this book. Otherwise, start saving your money now and and dont waste your time! I'm selling mine right now (I just got it today) and I feel like i'm ripping someone off by even re-selling this crap! ... Read more

Amazon.com

In these times of massive credit card debt and stagnating incomes, filing for bankruptcy has become the only relief for thousands of people. The information in How to File for Bankruptcy is so complete that a person can file virtually on his own, without needing to hire a lawyer. By no means does the book encourage filing for bankruptcy, but it will help anyone in serious financial trouble determine if bankruptcy might be a sensible course to take, and examines what kind is appropriate for different individuals. All of the necessary forms are included, complete with explicit directions. Like all Nolo Press titles, this is a straightforward, no-nonsense book of useful advice and specific guidance, written in clear, easy-to-understand language. ... Read more

Reviews (11)

Could have been better
- only 16 states allow residents to use Federal exemptions (including Michigan) so they only provide a few measly examples for state exemptions, so if you live in one of the 16 states that allow residents to use Federal exemptions don't expect much from this book
- book repeats instructions already on forms over and over; could have eliminated 100 pages at least if they just said follow instructions on forms
- if you've read forms, read "Bankruptcy Basics" flyer at Federal website and gotten few few consultations you can skip this book

Very Good but look closely.
A useful guide, as far as I can tell, professional and concise.A possible caution however.The most recent edition as of Nov. '04 is the 11th edition, 2004. I would suggest that you not buy a used copy unless the seller specifies the edition or the publication date. This may not matter very much. Note that the most recent Gilbert bankruptcy law guide and the most recent Nutshell bankruptcy law guide are both 2002 (as far as I can tell). If you're serious about looking into this, you might as well have the sharpest tools you can find.

This book saved me attorney's fees! Worth its weight in gold
I can't say enough wonderful things about this book!

6 months ago I was contemplating bankruptcy.I searched for a book to help me and decided to buy this one.Honestly, I figured I'd read it, be more confused than ever and have to hire an attorney.

That's NOT what happened.I took a weekend and studied every page of this book and took notes.I filled out and filed my bankruptcy petition on my own.Today, I attended my creditor's meeting.Now, in just 2 months, I'll receive my discharge.All WITHOUT a lawyer!

Filing bankruptcy without a lawyer is more time consuming, but the money saved is worth it.Just take your time and study this book and you'll be fine.

Thank you, Nolo.Buying this book was the best thing I've done this year.

Easy to Follow Big Money Saver
I recently filed for bankruptcy using the book How to File a Chapter 7 Bankruptcy. It told me where to file, what schedules to file, how to fill them out,what fees I would have to pay. By doing this, I saved myself over a $1000 that a lawyer quoted me if he were going to do it for me. Though meticulous and a bit detailed,the book is not hard to read. So, if you too want to file your bankruptcy yourself and save yourself a $1000, buy this book! I filed, paid my fees, attended the 5 minute bankruptcy hearing myself--all without any problem. It was a breeze!

D.S.

Chicago

Good job
The author did a good job organizing the information in this book.

I would also recommend Surviving Financial Disasters by Tiffany R. Love which comes with a CD ROM and actual sample court documents from someone who has been there and done that. Also tells what to expect after you filed your papers. ... Read more

Book Description

This comprehensive guide covers bankruptcy issues and laws. Written by experts in the field, the text discusses judicial debt collection; creditors with special rights; debtors' state law remedies; commencement, conversion, and dismissal of a bankruptcy case; automatic stay of collection; creditors’ and debtors’ rights; exemptions; collection; pre- and post-bankruptcy transfers; the effect on secured and unsecured claims; leases and executory contracts; and allocation of judicial power over bankruptcy matters. ... Read more

Reviews (1)

Very Helpful
This was a great supplement to my bankruptcy class in law school. Prof. Epstein has put together an easy-to-understand summary of bankruptcy rules. ... Read more

Book Description

The number of new personal bankruptcies filed each year continue to increase. And there is no relief in sight. Bankruptcy is never a painless or easy decision, but with a little know-how, you can get through this process with a minimum of headache, heartache, and indigestion. With a clear focus towards the future, you can then begin to get your finances—and your life—back in order.

If you’re considering bankruptcy, are currently in the process of filing for bankruptcy, or on the brink of bankruptcy and looking for a way to get through debt, Personal Bankruptcy For Dummies can help you make the best decisions about your financial future.

Personal Bankruptcy For Dummies is a nuts-and-bolts toolbox, which covers both Chap7 and Chapter 13 bankruptcy. Written by two seasoned experts on bankruptcy law, this easy-to-follow guide walks you through the bankruptcy process and explains how to rebuild your credit after filing for bankruptcy. Straightforward answers and re liable advice can help you sort out all of your possibilities, with a clear understanding of what you have to gain and what’s to lose. This carefully written guidebook will show you how to:

• Consider alternatives to bankruptcy
• Decide which type of bankruptcy is right for you
• Prevent further financial damage before filing for bankruptcy
• Defend yourself from bill collectors and the IRS
• Save your home and other important assets
• Wipe out credit card debt
• Use bankruptcy to deal with tax debts
• Repair your credit and stay out of financial trouble

Filled with expert tips and tactics for navigating the world of bankruptcy, Personal Bankruptcy For Dummies gives you the ammunition and information you need to intelligently and confidently choose your own best path and get back on your feet again. ... Read more

Reviews (3)

Good Book
Good book although some aspects are very general. See also Surviving Financial Disasters By Tiffany R. Love it comes with a CD ROM.

Indispensable primer for anyone considering bankruptcy
This tome is an absolute godsend for those who are considering filing for bankruptcy yet may not know much about the process. This book covers all the bases concerning Chapter 7 and Chapter 13 bankruptcy filings. From common mistakes and misconceptions to the highly specific legalese of bankruptcy law, this book addressed nearly every one of my concerns about this complex and emotionally challenging process. I opened the front cover a bankruptcy know-nothing and set it down feeling like an attorney.

This is not a DIY guide to financial rebirth (in fact the authors highly discourage this), but more of an "Everything-You-Ever-Wanted-to-Know-About-Bankruptcy-but-Were-Afraid-to-Ask" reference. The authors do not delve into the minutia of the process. They seek to be more like tour guides, leading you through the perilous wilds of US bankruptcy law with their collective wealth of knowledge on the subject. I found more useful information in the first 10 pages of this book than I did in six hours of web-surfing.

The most superlative compliment I can bestow upon this volume is that it helped to allay my fears and crystalize my plans for my financial future.

Finally, an understandable bankruptcy book!
This book is clear, concise, understandable and even funny at times. The authors have done an incredible job of taking a very complicated topic and making it understandable for a lay audience. At the same time, they avoid talking down to the reader.

Personal Bankruptcy for Dummies is, first and foremost, a very useful tool for anyone even thinking about bankruptcy. It answers all the questions without preaching or browbeating. It ought to be read by every potential bankruptcy client before they meet with a lawyer. ... Read more

Book Description

Experts present a guide through the risky but lucrative investment opportunities available in troubled companies. ... Read more

Reviews (8)

Absolutely Terrific Introduction into Bankruptcy Investing
Great introduction and overview of the world of distressed and bankruptcy investing. The authors managed to synthesize a very complicated subject into an easy-to-read and understandible book. Of course no one book can cover the entire subject in detail, but this one comes amazingly close. Highly recommended.

Fabulous book
This book has everything I needed to make money in this market. They do need to update their data and bring it forward, but the analysis is first rate and the methodology was very new to me although quite understandable in plain english for someone without a law degree or an mba. I now understand what is going on here and I can see how the vulture investors get the large returns. I reread the first part after several months of buying and it all still held together. Interesting and moneymaking as well.

Very poor content and presentation
I was really disappointed with this book, particularly given that it was written by seasoned bankruptcy experts. The book is very skinny on content - it spends about 30 pages on bankruptcy law and its procedures, a few on case studies that are superficial/poorly written and several on bond analysis, and standard research tools that are well-known to a person with basic financial knowledge, ie the sort of people who would be interested in something relatively exotic as Bankruptcy Investing. The few useful pages that there are are marred by poor writing, and a complete absence of analytical frameworks that stay with the reader.

Bankruptcy is a complex topic and there is a need for a book of the sort Branch and Ray have attempted. However, this is most certainly not that book.

It's Time for an Update
This book provides a decent overview of the restructuring world and bond market, although a little too basic. I was expecting more of a focus on the puruchase of deeply discounted high-yield bonds and bank debt. Additionally, the book was extremely outdated. LTV has already filed Chapter 11 Bankruptcy for its second time, and we have something called the internet to help with our research.

The premiere book on the subject
As a bankruptcy lawyer, I have read many of the books out there. But I haven't seen one better than this. Professionals and non-professionals should use the book as a checklist for evaluating bankruptcies. Written in common-sense language, it gives the "inside" details on what you REALLY need to know to tell whether a bankruptcy is a good investment. ... Read more

Book Description

This law school casebook provides detailed information on bankruptcy law. The casebook provides the tools for on-point study of the fundamentals of all types of bankruptcy issues. Recognizing that Congress likely will make major changes in the way bankruptcy law deals with consumer debtors, this Edition contains a chapter outlining the policy issues that have been before Congress for the past several years. Part of the University Casebook Series®, it includes selected cases designed to illustrate the development of a body of law on a particular subject. Text and explanatory materials designed for law study accompany the cases. ... Read more

Book Description

With juries giving out million-dollar awards for such things as spilt coffee and harassment, anyone with assets must realize that what has taken a lifetime to earn can be lost in an instant. Our legal system has become a lottery in which lawyers finance claims against anyone with money. This book explains in simple language how anyone with any assets can best protect them against any type of claims.

After seeing how unfair the legal system has become, Attorney Mark Warda spent over a year and a half studying every type of asset protection plan available, from the homestead exemption to the offshore trust, from the most court-protected to the clearly illegal, and from the cost-free methods to the most expensive schemes. This book is the result of that research.

In simple language, it explains what works, what doesn’t and why. It provides asset protection plans for every need, from the simple and cheap to the complex and expensive. It explains the three main ways to keep your assets out of reach of creditors and the five most important rules for being sure they work. It includes a summary of the law for each state and explains how to do more research to keep up to date.

If you own any assets you do not want to lose to a creditor, you need this book! ... Read more

Book Description

This work has established itself as a leading authority on its subject. The Third Edition brings the book fully up to date with thelatest case-law since the Second Edition was published in 1996.Itprovides an authoritative commentary on the principles governing thelaw of set-off and is an essential purchase for banking, finance, andinsolvency lawyers world-wide. ... Read more

Book Description

Considered the standard reference in the field of bankruptcy accounting, this two-volume set combines accounting, finance, tax and legal issues in an easy-to-understand resource. This updated and expanded edition contains major changes to the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure, and discusses the release of AICPA's SOP 90-7 with examples regarding the complications of applying it. Features new sections on business valuations, debtor-in-possession and post-petition financing. Volume 2 provides a unique collection of forms and exhibits and has been extensively revised to be more user-friendly with checklists and discussions to accompany the scores of sample documents and authentic exhibits. Supplemented annually. ... Read more

Book Description

A step-by-step guide to liquidating and reorganizing–in court and out

"The book will be an excellent road map for dealing with the intricacies of dealing with companies in restructuring and bankruptcy. It promises to be the one place to comprehensively evaluate the legal and practical problems facing both debtors and creditors."
–– Stephen B. Darr
Partner, Corporate Recovery
KPMG LLP

"I found Dr. Newton’s new book, Corporate Bankruptcy: Tools, Strategies, and Alternatives, to be authoritative, comprehensive, and as current as today’s newspaper.Grant brings simplicity and understandability to a very complex area. This book would be useful as an in-depth guide for the novice or as a valuable, must-have reference tool for the experienced practitioner."
–– John Tittle Jr., CPA, CIRA
Partner and Texas Practice Leader
Deloitte & Touche Reorganization Services

"Grant Newton’s Corporate Bankruptcy: Tools, Strategies, and Alternatives is a must-have reference for all bankruptcy practitioners. Useful to even the most seasoned professional, Professor Newton’s work is replete with practical real-life insights, problem identification, and topical case citations. His in-depth coverage of key issues makes this book appropriate for attorneys, bankers, financial advisors, and workout professionals."
–– Kenneth J. Malek, CPA, CIRA
Navigant Consulting, Inc.

"As a restructuring professional I have used Professor Grant Newton’s Bankruptcy and Insolvency Accounting as a definitive reference guide for many years. In Corporate Bankruptcy, Newton has written a useful and very usable guide for the executive looking for a working understanding of the bankruptcy process, its benefits, and its challenges for companies and their creditors."
–– James M. Lukenda, CIRA
Managing Director, Huron Consulting Group LLC
President, Association of Insolvency and Restructuring Advisors ... Read more

Reviews (1)

Very practical reference, "thin" on theory and case studies
Very useful and convenient reference guide for restructuring bankers / distressed debt investors. Probably too generic for experienced bankruptcy attorneys. The text and examples are efficiently presented and the author does a superb job of distilling the bankruptcy code into an easy-to-read format. The chapter on valuation is nothing more than the common stuff you read in any corporate finance book. A case study and a more extensive discussion on bankruptcy term sheets and negotiation tactics would have made this book more praiseworthy. ... Read more

Amazon.com

Something strange happened to the Enron Corporation in the early 1990s: It went from a company that traded in tangible goods to one that dealt in pure abstractions, with shoddy accounting practices, astonishing compensation packages, and smoke and mirrors to obfuscate this new reality.

Company auditors, Sherron Watkins among them, warned top Enron execs from CEO Kenneth Lay on down that the company’s increasing reliance on cooked books and phony reports "will implode in a wave of accounting scandals." As anyone who played the stock market or watched Enron suits do the perp walk on the evening news a couple of years ago will remember, that’s exactly what happened. Texas Monthly editor Swarz and Watkins team up to offer this account, rich in anecdote and numbers alike, of what went wrong and who made it so. Though even-handed throughout, they serve up plenty of righteous scorn for the corporate leaders who enriched themselves as the company disintegrated, and for the name-brand politicians who abetted them.

Though Osama bin Laden’s pawns barely dented the U.S. economy, observes Alex Berenson in The Number, Lay and his lieutenants brought it to its knees. Swartz’s and Watkins’s eye-opening account will rekindle new indignation over unpunished crimes and well-rewarded hubris, and it ought to be required reading in business schools henceforth. --Gregory McNamee ... Read more

Reviews (23)

A whistle-blower tells the fascinating story of Enron
Imagine the life of Sherron Watkins: a posh job with one of the most successful energy companies in the world, all of the amenities that come with wining-and-dining important contacts while negotiating deals worth millions --- and a nagging suspicion that something within the company you're working for isn't quite right. There were thousands of Enron employees, all with the same upward mobility and satisfying salaries that Sherron Watkins possessed. So what set Watkins apart from them? It was the fact that she was willing to risk sacrificing it all to expose the corrupt practices that had made Enron so profitable.

In POWER FAILURE, the entire history of Enron is explored, from its inception in 1985 to its demise in 2001. Written by Mimi Swartz with assistance from whistle-blower Sherron Watkins, this book will take the reader on a journey that includes Enron's earliest successes and failures, the super-charged management conferences, the politically incorrect Enron trading floors and the Senate Hearing Room's investigation and subsequent trial.

But POWER FAILURE is much more than just an expose on a corrupt corporation. It also provides a frightening view on what the big-business atmosphere has become. The story of Enron shows how delicate the balance of politics, money and business practices is, and how thin the line between legal and illegal can be.

Swartz and Watkins effectively tell the story of Enron without a hint of tabloid exploitation. And with all the exploitations that occurred within Enron, that's nothing short of a miracle. They give an accurate, honest perspective on all of the events that took place in the history of the corporation and portray the characters of Enron without bias. That's not to say that there's no negative statements made about people throughout the book --- just that they're given in a diplomatic manner. The book is written in an informative yet entertaining manner, complete with entertaining sidebars and humorous anecdotes to keep the reader's attention. And they have included plenty of pictures to point out just who the evildoers are. This is a must read for business people, tax evaders, anyone who plans to cheat the system, or the average Joe who wants to know what really happened at Enron.

--- Reviewed by Melissa Brown

A Must Read if you have Investments
April 23, 2003
I'm just finished 'Power Failure' the inside story of Enron's failure. The book is by Mimi Swartz and Sherron Watkins of Enron fame. It is a very well written and entertaining: I was pleasantly surprised. Sherron was a key part in the rise and later fall of 'Enron'.

Sherron actually ran some of the 'Off-Balance-Sheet' for Andy Fastnow. The book brought up lots pertinent history of 'Corporate America's' use of 'Off-Balance-Sheet' stuff and other revenue recognition policies and how the accounting firms aided and abetted. The book gave rise to one important question, how was it able to happen: it's evident that there is more fraud to be discovered.

It's my opinion that this book will be included in the other now famous period pieces like: 'Where are the Customers' Yachts?' By Fred Schwed, 'The Great Crash' by John Kenneth Galbraith and
'Reminiscences of a Stock Operator' by Edwin Lefevre

What happened at Enron reminds me of a 'Tom Clancy 'book, lots of movement and bad people.

Must Read
Ken Lay was the product of a very religious background in a small Midwestern town. During work on his PhD in economics, he became enamored of the world of stocks. He parlayed InterNorth, a small energy company into Enron. He was a rich man, having made $4 million in stock value increases from the merger of Houston Gas into InterNorth, later renamed Enron. He was also the highest paid CEO in the United States. The company's strengths were also its weakness: the constant risk-taking; the high debt load to ward off potential takeovers; "impassioned embrace of deregulation;" constant reorganization; and instant adoption of the hottest new business ideas. They were soon struggling for cash.

In the meantime, Lay had created a new culture at Enron. It was his belief that all one had to do was hire the best and the brightest, provide a free environment, and things would take care of themselves. He also had trouble saying no to anyone. He hired an old friend to be the "bad guy," but it soon became apparent to all that if you made money for the company you could get whatever you wanted.

Watkins was hailed in 2001, following the collapse of Enron, as a heroine for her "whistle-blowing." Whether her actions actually constitute that appellation is open to question. Certainly she was an insider, and her account reveals a great deal more of the financial shenanigans in greater detail than the previous book I reviewed, Anatomy of Greed. She interacted constantly with Lay, Skilling and Fastow, and if she got really nervous about what she was seeing, perhaps whistle-blowing was just a way of protecting her posterior.

What started out as a new paradigm, a different way of delivering energy, soon became a case of the blind leading the blind, or a corporate version of Dumb and Dumber, as the board and Enron employees began creating numerous new ways of hiding losses, even making losses look like revenue. It was a huge, ever-increasing house of cards.

Watkins is an accountant and naturally had a strong sense of the financial improprieties the company had embarked upon, but the impending doom she warned of in her now-famous memo to Lay should have been obvious to everyone. Enron's own head of research said presciently, "Every era gets the clowns it deserves."

If they ever make a movie of this book, it will have to be a comedy. It is astonishing how stupid many of the "best and brightest" graduates of American business schools were, as they bellied up to the trough of corporate greed. Sherron made an attempt to meet with Ken Lay, but first she had to convince his personal secretary to arrange a meeting. The secretary informed Watkins that "Ken gravitates toward good news. . . ." It did not bode well for the meeting. Another insider told her to make the presentation as simple as possible and eliminate any accounting jargon. She obliged and reworked her presentation so that her two-year-old daughter could understand it. The meeting was a flop, and it was clear to her that Lay could not understand - or perhaps did not want to understand - a thing she was talking about.

Ironically, Osama Bin Laden's exploits barely dented the US economy. Lay's machinations and the subsequent stock free fall provided a vicious slambang.

Solid good read
An interesting and involving read on the rise, demise and fall of Enron. The book draws the reader into this story of of corporate greed, corruption and deception.

No Energy Here Either
Disappointing. Although Watkins got a lot of play as a "whistleblower," you may develop a different opinion if you read her actual memo. Nothing new, which is disappointing given her immunity from prosecution, and too long in coming. Technically proficient ghost writer. ... Read more

Book Description

Every year, millions of people are the target of collection agency harassment. People react in a variety of ways: they screen their phone calls, are afraid to open their mail. Some consumers run to a bankruptcy lawyer simply to get away from the harassment.

Few people understand their rights under the law, and even fewer know they can actually sue the debt collector for abusive and deceptive behavior.

In fact, the collection industry is a multi-billion dollar industry: collectors are trained in the art of deception. When a consumer loses a job, goes through a divorce, or has an illness, they are already in a state of depression. The collector knows this, and knows how to prey on you to get you to pay.

Collectors and their lawyers meet at conventions. The lawyers tell the collectors which cases have been won and which have been lost; which tactics have been deemed legal and which have been deemed illegal. Imagine: they are ganging up on you. They are trained; you should be, too.

This book is written by an attorney who has spent the better part of a decade suing debt collectors. Learn the secrets they don't want you to know. Learn how courts have interpreted the law.

This book comes with case citations, and even sample complaints.

You can actually sue the debt collector, and win money damages, including 100% of your costs and attorney fees. ... Read more

Reviews (14)

Why are debt collectors trying to destroy this book?
I have to laugh when reading these reviews: This book gets 5 stars from consumers, yet it appears several debt collectors wrote reviews (they probably didn't even read the book) and give it a star or two. Gee, I wonder what is happening?

Not one review by any debt collector actually goes to the substance of the book: That debt collectors have laws they have to follow. When those laws are broken--and this happens frequently--you, the cosumer, can sue the debt collector. There is no reason to be afraid, no reason to screen your phone calls. We, as consumers, have tons of rights against debt collectors, many of them we don't even know. This books tells us what those rights are-nothing more, nothing less.The author does not say all debt collectors are bad. What he says, in plain, easy to read language, is that debt collectors cannot abuse and harass consumers, and he gives us exact cases that explain what the law is. There are only a handful of books out there on this subject. Debt collection is largely a "dark" industry and has never been exposed. And the debt collectors just can't stand the fact that someone finally exposed them and their cheap bag of tricks.

Consumers have rights they don't even know about, and the debt collection industry simply doesn't want us to know what those rights are. Debt collectors use desk names, caller id, talk to our neighbors, threaten to sue us. Much of this is illegal.

Why are debt collectors so afraid of this book?

My prediction: some "consumer" will give it an iffy review. The
reviews right now are 5 star consumer based, 1 star by the debt collectors. Gee, I wonder how much farther the collectors will go.

The word is out about you, debt collectors. I know it makes you burn. You're not all bad, so you say--but why are you so afraid of a book that simply tells the consumers what their rights are?
What are you trying to hide? As members of our wonderful open society, do you not want your fellow citizens to be fully informed on laws? Or do you break those laws so often, exposure could really, really hurt you?

You "cross the line" all the time, and many consumers don't even know when you do. When you cross the line, for example, use vile language, you can get sued. That's right--a consumer can go to the National Consumer Law Center in Boston, find a lawyer that makes a living suing debt collectors, and sue--but isn't this what you do? Don't you make a living suing people--people who have gone through a divorce, gotten ill, lost a job?

Please. It's about time you face your responsibility.

The Author Responds
Richard DiMaggio, the author, must respond to the debt collector who is upset with the notion that consumers have rights. I must first state that the book does mention that debt collection is an occupation of last resort for most collectors. Unable to find a "real" job in the profession of their choice, the unemployable resort to harassing people for money. The unknown reviewer is an economist who became a debt collector. Enough said. When banks went broke in the S&L scandal, they went to Congress for a bailout. When Chrysler almost went belly up in the early 80's, they went to Congress, too. It would be great if we, as consumers, could go to our government for hand outs, but we can't. And with but a sprinkling of true "consumer advocates" in the country, the consumer has no where to turn. Even popular consumer credit counselling groups are sponsored by banks--but no, they don't tell you that.
The collection industry is huge. It has training camps for collectors, law firms, seminars and conventions. The lawyers who represent debt collectors monitor consumer protection attorneys and discuss ways to quash them. Law suits are monitored on a nationwide basis. Meanwhile, a consumer who has lost a job, became ill, or went through a divorce is up against this behemouth of an industry. The point of the book is that consumers have rights, and lots of them. But you don't know those rights, because the collection industry does everything it can to keep their limitations a secret--i.e., giving a great book a single star rating, even though they most likely didn't even read it.
You, the consumer, are in control of the debt collector. Never, ever, forget that. If the reader is so concern about credit card debt, tell him to tell the credit companies to stop sending everyone so many solicitations and to stop being so reckless in their own business. I have personally been quoted in Business Week magazine, and have appeared on WABC, CBS Evening News and lecture extensively to groups. I know of which I speak.

Not all debt collectors are ruthless, this book is misleadin
I picked this up at a local library and read most of it looking for information on my field... that was a mistake. This book is simply capitalizing on groupthink and stretching the truth about the industry, painting all collectors with a bad brush and saying you can get away with things that you can't.

The company I work for, OSI, is very good at training us to respect the consumer, respect the FDCPA and even go above and beyond the FDCPA and help the consumer through hardships.

Example: If you simply SAY that you want us to stop calling you, we will mark that number bad and stop calling you. The FDCPA actually requires a written letter to be recieved, but we go beyond the laws to protect the debtor. Honestly, if you're mad at us why would you want to clean up your debt or even listen to us at all?

I would not buy this book
This is not the book I would by to help me with my credit problems. There are more practical books that contain letters, contain practical help. Remember that if you wait 7 years without applying for bankruptcy, your debt will disappear by itself because of the rules. You don't have to apply for bankruptcy. Not 1 book that I read on the topic, told me that. For all of you who have problems with credit, this is a good solution. I hope that helps

And one more point for Mr. Dimaggio....
Regarding your response to the college student, Lee Iacocca and Chrysler PAID BACK the government loan!

As for the S&L's they should have come under the same regulations as full service banks years ago, as well as the credit unions, which will be the next government bailout! ... Read more

Reviews (25)

Okay, but not as good as expected
This book is okay and certainly worth reading, but not as good as I expected after seeing all those "5-star ratings". Some of the key issues are not covered in enough detail, according to my opinion. The book tells the story of Enron, but should give more concrete examples which explain in detail what went wrong. It all remains rather vague. Also, I would've loved to read an interview with some of Enron's customers for example. Or some of their (former) employees.

Thin
Let's start with the positives:
- the book is easy to read and reasonably well written;
- the basic facts of the story are covered;
- the book starts the story way back before the problems emerged so that you get a feel for what the business was up to.

But
- it is very short book for such a complex subject
- the "unravelling" - the investigations into "what went wrong" are (ironically) not well covered
- there is almost no coverage of the Andersen issues

So save your dollar, pound, euro or yen - don't waste it on this book.

A Shakespearean tragedy
What really went wrong at Enron?

A question that cannot be answered easily due to its nature of complexity. Thousands and hundreds investors, including Enron¡¦s employees who vested their retirement benefits in the s401k plan solely with Enron shares¡K..The horrible downfall alarmed the investment community, hurt the professional society (accountant, lawyer, underwriter etc.) and credibility of the monitoring commission¡K. The U.S. government reacted with the new legislation (Sabanes-Oxley Act) as an ¡§attempt¡¨ to tackle the problem, trying to put the company¡¦s management back on track to shoulder its fiduciary duty to the company¡¦s shareholder. But, does it work? The extent to which the various parties¡¦ responsibilities is still clouded.

If we do not really analyze the root causes which led to the Enron¡¦s downfall, we never know the answer. This book, written with the targeted general audience, is published at the right time to give the public a good chance to find the ashes in the smoke. At least for the moment.

According to this book, the tragedy was played by an arrogant CEO, greedy senior executive, loyal whistleblower, with the backdrop of a wrongly conceived free economy principle. The book is well written and gives insightful analyses based on the available evidence and traces. Some of the factors leading to the tragedy noted by the authors are:

*„X The use of SPE (Special Purpose Vehicles) in accounting to keep off the accounting profits as well as to hide the potential liabilities
*„X The constantly fearing environment built by the Corporate Culture emphasizing on a sense of urgency
*„X Over-extension of operations in the deregulated energy and telecommunication market
*„X Mark-to-market accounting principles
*„X Less than full company¡¦s disclosure tendency
*„X Valuation problem of customized contracts
* Making commitment as a counter-party to every trade in arbitrage markets
*„X Trading from natural gas to electricity to bandwidth to 1800 different products in the Enron online
*„X Conflicting company¡¦s strategy: asset-lite vs. debt heavy financed investments
*„X Manipulated earning estimated to meet expectations
*„X Deals financed by high Enron¡¦s stock price
*„X Excessive investment in optic fibre networks

The list could go on and on. In fact, Enron went to the extent that deals were made just for the sake of making them. The more you read about the book, the more you feel it is a Shakespearean tragedy ¡V things are certain to get worse with all of these interrelated factors playing on stage. The general audience, those who believed that the play had a good ending, bought the tickets but found that the play was ultimately turn out to be a tragic one. They suffered. However, the director said: ¡§You bought the tickets because you believed in the play had a good ending. I didn¡¦t say that it would end in that way.¡¨ Refund? No.

The investigation into Enron¡¦s alleged sham trading and potential fraud scheme is still in progress as of this writing¡K..I highly recommend the book to the general readers, although it is better if you are financially literate. It is a thought-provoking and interesting read, especially to the CPAs.

Lacks specifics, too many pointless analogies.
Enron's greed and financial scandals, along with the rise and fall, are interesting in itself. This book, though it does explain the fall and is easily readable, isn't intriguing enough to capture the reader's attention. In fact, more than half is a description of how Enron came to be and what there business model is. A chunk of the book is just photocopied evidence pasted in the appendix. Only a minute section describes the scandal and accounting frauds.

The author loves anologies. He devotes pages to baseball card trading, and then sort of compares it to Enron's business. While these analogies help with understanding the business model, it's often over-simplified with a glaring lack of details. What I found was a lack of hard numbers and statistics which meant I couldn't put the failings into perspective. Also, the first half of the book where he details Enron, he seems to be praising their business, then hand wavingly, he points to a few corrupted examples. It almost appears that the author thinks Enron would still be a powerhouse if it wasn't for a few specific incidents.

As a book, it gets the job done. It shows the errors of Enron in a way that any non financial person could understand. It does tend to oversimplify, and it's glaring lack of numbers and details hurt it in the end.

What went wrong at Enron
The book was thrown together. The author wanted to be a first mover in the marketplace that analyzed what went wrong at Enron. However, the author neglected to mention in detail and explain how off balance sheet special purpose entities were Enron's demise. This is a waste of time and money to read. ... Read more

Book Description

Beginning with the client interview and ending with the closing of the case, this edition takes the reader through the step-by-step process of each type of bankruptcy filing. Case examples clarify the concepts presented and problems posed challenge the reader to put into action the knowledge they have gained. Particular emphasis is placed on the paralegals role in the fact-gathering process, the interface with clients, and the preparation of the various forms required to be filed in the Office of the Clerk of the Court. Within the publication are the most up-to-date official bankruptcy forms and explanations for completing them, as well as debtor- and creditor-client questionnaires. ... Read more

Book Description

Book Description

Gilbert Law Summaries are America’s best selling outlines and have set the standard for excellence since they were introduced more than thirty-five years ago. It’s Gilbert’s unique combination of features that makes it the one study aid you’ll turn to for all of your study needs! Walk into class prepared with a comprehensive outline of the law, a concise capsule summary perfect for a quick review before class, charts of every kind, a text correlation chart so that you can match your specific reading assignment to the relevant pages in the Gilbert outline, and an index and table of cases.Ace your final exams with a step-by-step approach to attack your exam, exam tips, and sample multiple choice, true-false, and essay questions. ... Read more

Book Description

For many people, the word bankruptcy carries negative connotations. Yet, if you are one of the millions of Americans who is facing massive credit card debt, stagnant income, or sudden unemployment, bankruptcy may be the best answer to putting your finances on the road to repair.

Often viewed as a disaster, bankruptcy is, in fact, a rescuer. Unlike other books on this topic, which take a dry, mechanical approach, The Bankruptcy Solution helps you get past the shame around debt and make the law your ally when you are faced with financial hardships.

The Bankruptcy Solution shows you how you can:·Prepare for filing bankruptcy
·Deal with collection agencies
·Understand which debts you should pay off first
·Repair your credit after bankruptcy
·Find the right attorney

You’ll also learn about the laws that can affect—and often help—you if you file for bankruptcy:

·Bankruptcy Reform Act
·Fair Credit Reporting Act
·Fair Debt Collection Practices Act

Written in an approachable style by expert bankruptcy attorney Peggy Palms, The Bankruptcy Solution gives sound advice on whether or not bankruptcy is the right choice for you—and helps you get through this stressful process with your head held high and your sanity intact. ... Read more

Reviews (4)

Excellent for Debtors
This book is for anyone contemplating bankruptcy. Peggy Palms does an excellent job of describing, to the debtor, the ins and outs of filing bankruptcy. This is the first book of its kind that helps debtors (not creditors) understand the bankruptcy process without feeling ashamed or embarrassed. I would recommend this book to ANYONE experiencing financial problems. It releived a tremendous amount of stress from my life and gave me hope. Peggy Palms is wonderful.

The Bankruptcy Solution
Sunday I purchased six books on Bankruptcy, read this one first and didn't bother reading the others. It was so real, truthful, and as we say in the Caribbean, down to earth, connotating a Holistic coverage. This book will help me as I work to fight for bankrutpcy reform in my country. I recommend it anyone facing financial problems or wanting to know more about bankruptcy from the perspective of an experienced, practicing attorney who seems to care about people in trouble.

A Real Page-Turner...
If you or anyone you know is considering filing for bankruptcy, "The Bankruptcy Solution" is a must read! It stands out from the few others I have purchased/read because it answers almost every question one may have regarding Chapters 7 and 13. Also, Ms. Palms addresses bankruptcy matters with a no-nonsense, dignfied attitude. Other books make the reader feel shameful about bankruptcy issues, whereas "The Bankruptcy Solution" gives one hope for life after a BK. After reading this page-turner, you will hold your head high. My only regret is that Ms. Palms is unable to represent me(I live across the country from where she practices)!

Outstanding
I strongly recommend this book to any reader considering bankruptcy or wishing to learn more on the topic. The author has a sincere understanding of the debtor's experience. She explains the process in an easy-to-read fashion without leaving out any details. I look forward to more books by Peggy Palms! ... Read more

Reviews (1)

Excellent overview of the bankruptcy process
This is an excellent book for the non-lawyer that needs to get up to speed quickly on the bankruptcy process. I found myself as the business person managing the creditor side of a bankruptcy and this book helped me become fluent in the process with minimal delay.

The book is written in a light manner and is a rather quick read with a lot of detail available in appendices. ... Read more