Book Review: Stories of the Indebted by Jorge P Newbery

The lives of too many Americans are absorbed by debt, becoming prisoners of a vicious cycle from which breaking free is difficult. However, Jorge P. Newbery offers an escape plan in the form of a book, “Stories of the Indebted”.

The book is comprised of seven chapters, each revolving around how to handle specific types of debt. Jorge P. Newbery finds an engaging way to present information which can easily be perceived as boring or overly technical for those who are not versed in economics; he uses the art of storytelling to compel and teach the reader. With the help of his characters who seem as real as you and I, he shares their problems and also the solutions to each case. However, do not expect to read any classic success stories; as the author himself realized, these are not as efficient in grabbing the attention as stories about failures. The focus falls on how to rise once you have fallen and how to learn from your (and other people’s) mistakes.

While each case is unique due to a specific set of circumstances, there are a few general rules in handling debt problems which are highlighted throughout the book. First of all, the element of time is essential; people must learn to appreciate the power of patience and use it to their advantage. Secondly, the best way to gain advantage over the adversary is to exploit their errors. Jorge P. Newbery further elaborates his strategy in his Debt Cleanse, offering a step-by-step plan to follow. The best thing is that he practically teaches people how to help themselves out of their unaffordable debts.

Jorge P. Newbery faced numerous hardships in his financial endeavors which he managed to resolve by confronting the system. He identified a strategy that can universally work for everyone facing debt problems. “Stories of the Indebted” is not his only outreach to people in need of help. You can also listen to him speaking at conferences, sharing his story and conclusions. Also, he is the founder of American Homeowner Preservation through which nonperforming mortgages are bought at big discounts from the banks, and then these discounts are shared struggling homeowners. Another way he gets in contact with people is through, which can be viewed as a version of an AA program. All in all, it is pretty simple; in order to get the help you need, you need to ask for it.