|Master or Victim? You Decide.
Forget what you think you know about using other people’s money. The game has completely changed.
The world of debt—everything from credit cards to mortgages to student loans—is completely different than it was just a few years ago. In this book I want to share the many secrets of debt management I’ve discovered that can help consumers all along the credit spectrum. I’ve studied the latest products and the newest rules, and also have some good information about the kinds of loans and credit card deals we can expect to see in the future. I want to share that with everyone, but mostly, I want everyone who reads this book to understand this: You can master debt and make it work for you. You can win the debt game.
The ﬁnancial marketplace is always evolving, but recent developments have been especially dramatic—a sea change brought about by a credit crisis, a deep recession, and a new administration. Many loan products that were prevalent don’t even exist now, and there are new ones taking their place. Those easy zero-percent-interest credit card deals have dried up, as have the most exotic mortgages and the ‘‘Bad credit? No problem!’’ attitudes of many car dealers. Private student lenders have left the business in droves and may disappear altogether.
Now there is a different debt industry to take the place of the one that used to exist. There are new credit card rules, new student loan plans, and new mortgage-modiﬁcation programs.
It's a whole new ball game.