Tayne - Life & debt : a fresh approach to achieving financial wellness

Gateway Bridge Press

Copyright 2015 by Leslie Tayne

All rights reserved under International and Pan-American Copyright Conventions. Published in the United States of America by Gateway Bridge Press

No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any other information storage and retrieval system, except for brief excerpts in a review or essay referring to this book, without prior permission in writing from the publisher.

To reach the author or Gateway Bridge Press, email: info@gatewaybridgepress.com

ISBN: 978-0-9863495-1-5

Print edition also available.

Manufactured in the United States of America

First Edition

Cover and book design: John Lotte

www.lifeanddebtbook.com

The intent of this book is to provide useful information about the subject matter covered. However, this book is purchased with the understanding that the author is not delivering specific legal, accounting, financial, investment, tax or other professional advice and/or services. If the reader requires such advice or services, a competent professional should be consulted. The strategies in this book are not suitable for every individual, are not guaranteed or warranted to produce any particular results, and the reader should note that relevant laws vary from state to state. No warranty is made with the respect to accuracy or completeness of the information. The author assumes no liability for any errors or omissions in the included information. The author specifically disclaims all responsibility for any liability or loss which is incurred as a consequence, directly or indirectly, by the use and application of any of the contents of this book. Please note, to protect the identities and abide by attorney client privilege, the names and details of the situations discussed in the book have been changed.

Leslie Tayne, Esq.

There was a time when I was drowning in debt. Determined to free myself from denial and financial turmoil, I sought answers and found them. Today I run a successful debt resolution law practice based on the lessons I learned in my own financial life. My clients trust me because they know I understand what they are going through. As a debt therapist I provide real-world solutions to debt-related problems.

Life & Debt: A Fresh Approach to Achieving Financial Wellness is designed to provide the tools you need to help take charge of your finances and embrace life with debt. I will show you how to love having debt. Yes, thats right. Debt is a part of life and most of us cannot have the things we need, like homes and cars, without it. Debt is a good and necessary thing even Donald Trump has it!

Using a combination of real-world success stories, plus the detailed application of my debt resolution techniques , Life & Debt will teach you to put fear and denial aside and set a new and better course for your life.

My own financial turnaround started by exploring my first memories of money. I grew up in a well-to-do Long Island, New York suburb. My parents worked, though my father had complete control of the family finances. We were far from destitute yet I remember money was always an issue and not a good one. What I learned was money was a dirty word and something my parents always were arguing about it. Money, therefore, became synonymous with problems.

Since my father controlled the money, and mother never seemed to have any, I made the decision at an early age never to rely on anyone else for money. I was always ambitious and started working in my early teens, first as a babysitter, then in retail stores. I also knew I wanted the independence and respect that comes with a professional career. Law was my childhood dream and I was determined to go to law school. I discovered it was easy to finance my law degree using private and federal student loans. I had no other options. I wanted to be a lawyer and this was a means to an end. I simply signed on the dotted line and did not think about what it would mean to repay those loans. I figured it would all work out later. I was mistaken.

By the time I passed the bar I was married, pregnant with no real job, and $80,000 in student loan debt. Though I had met most of my childhood goals, I was facing one of lifes most important lessons I had accrued debt which needed to be paid back regardless of whether I was paying attention to it or not. My husband worked, and since he took care of the bills, I assumed he was taking care of my loans.

Looking back I see that I repeated the patterns imprinted in childhood by allowing my husband to control the household money. He had a system and, with a family that now included three children and a career to juggle, it seemed easier to let him take care of everything. In retrospect, it proved to be a costly mistake.

Unbeknownst to me my student loan repayments went to the bottom of the bill pile. The paperwork was mishandled and eventually the loans went into default. I was sued by my private student loan company and ended up owing twice as much as the original loans. Worse, my credit was destroyed. When I finally faced the situation I was deeply worried. This degree of debt made me feel trapped and embarrassed. I was a lawyer. How could I let this happen?

I immediately took over the management of my loans. The private loans were repaid with family money, but the rest took me years to pay off. I paid them faithfully each month until the day came when I could say goodbye to the loans forever. I will never forget that payment amount $923.31 per month. The bottom line was I paid twice as much for my legal education.

It took many years, but I worked hard and paid off everything. I learned a great deal and built a successful debt resolution law practice based on what I accomplished in my own life.

Today, I am free from student loan debt because I took control and found real-world solutions to real-world problems the kind that come across my desk every single day. I teach people from all walks of life, demographics and income brackets how to manage their money, embrace and love their debt. With Life & Debt you will learn my practical, proven, and easy-to-follow techniques. It is a debt therapy session just for you.

The first three sections cover the foundations of finance and how to properly understand debt so you have the tools to manage it. The last section is a way to reap the benefits from your hard work and learn to enjoy your life again without fear of drowning in debt, bills, stress, and the pain that comes with it.

The following are some of the ways I am going to show you how to take charge of your debt:

• How to distinguish between good debt and bad debt
• The different types of debt
• How to manage your debt efficiently and live with it
• Why budgeting is essential, and how to create a realistic budget for any scenario
• Demystifying credit scores, and how to obtain your credit report
• Breaking the credit card addiction
• Planning for the unexpected
• How to leave the paycheck-to-paycheck lifestyle behind

Congratulations. You have already taken the first step. Life & Debt will now do the rest.