'The Big Score: Getting and Keeping It' Credit Scoring Book Review

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by Kabir Mahadeva
on Wednesday, July 22, 2009

Note: I purchased this book for use in advising my mortgage loan clients. I did not receive a free review copy nor am I being compensated in any way for this review.

Linda Ferrari's new book, "The Big Score: Getting and Keeping It" (Consumer Power Press, 2008, $29.95, ISBN 978-0-615-22860-0) is "The Real Deal". It is both a blueprint for self-help in credit score education and improvement and an indispensable reference work on the credit scoring industry in general. It is fast paced, full of useful information and advice, and organized to help anyone navigate through the credit maze. It is available at a discount directly from lindaferrari.com or through all major booksellers.

The book has 22 chapters, beginning with an overview of why credit scores are important to all of us, then goes deep into how credit scores are calculated and what one can do to optimize each facet. There are also special chapters on divorce, bankruptcy, and advice for homeowners in distress. Each chapter ends with a section called "The Real Deal" which summarizes the chapter's main content.

The book also does a considerable amount of myth-busting and correction/clarification of commonly held misconceptions about managing one's credit information and reputation. Even if you have excellent credit, this book can help you maintain it by avoiding mistakes and actions that could compromise your situation. The chapter on identity theft was a wake-up call for me as I realized some of the things I have done created unnecessary exposure to this very real problem.

As with any self-help manual, to really get the most of her advice will require some work on the reader's part, especially if trying to fix their credit. It will involve gathering documents, writing letters, making phone calls, and following up. Although this all may seem overwhelming at first, the book's step-by-step orientation breaks it down into manageable tasks.

Ferrari also owns and runs Credit Resource Corp. a credit improvement and education service. If a reader doesn't want to "go it alone" then they can sign up to work with her company and get guided through the process. I have personally referred clients to CRC and been impressed with the company's follow up and thoroughness. But you must realize that you will still have to do some work to achieve success.

For professionals whose clients need direction and counseling about credit, this book can be an excellent reference to help you give better advice. For example, many homeowners in distress don't know the different impacts on them between the options of deed-in-lieu, foreclosure, bankruptcy, and short sales. Each of these approaches differently impacts credit and ability to purchase a home in the future For people in financial distress, there are chapters on debt relief, handling collections, and bankruptcy.

The book also contains good external references to dig deeper, including case law and websites. Ferrari has worked hard to establish herself as a leading expert on the credit industry, and has shared her hard-won expertise and knowledge in a thought-provoking and useful book.

Content Source: http://activerain.com/blogsview/1153630/-the-big-score-getting-and-keeping-it-credit-scoring-book-review

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About the Author - Kabir Mahadeva

Contact Kabir Mahadeva:
Waterfield Mortgage a division of Waterfield Bank
828-552-0330
kabir@ieee.org
www.wncloan.com

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