Here’s a copy of a media release I’m circulating today, regarding the launch of “Back to the Black.”


Date: 18 January 2010

From: Michael J MacMahon

For immediate release

Subject: New book launched: helping debtors get “Back To The Black.”




An author who faced bankruptcy shares what he learned and reveals the key questions that can help individuals deal with debt.


A new self-help book for people with debt problems has been launched today. “Back To The Black: how to become debt-free and stay that way” is based partly on the author’s practical experience of escaping bankruptcy and partly on the principles of coaching. Chapters 1-3 in their entirety are now available as a free downloadable file, at .

The book’s author, Michael J MacMahon, says: “A few years ago I survived a major financial crisis. While digging myself out of that hole, I became interested in the principles of coaching, especially the idea that most people have the knowledge and resources to solve their own problems, if only they get the right support. One of the best ways of providing that support is to ask the right questions, because questions help to focus thinking, especially at times of stress; and being in debt is certainly one of those times. The book is thus derived from my experience and also demonstrates how those key questions can help anyone get out of debt.”

The book has been favourably reviewed by debt advice experts at the UK’s Citizens Advice organisation. Some of the best advice is simple practical stuff, for example:

  • Start by listing all your debts, bank balances and assets: knowing the truth is better than a vague feeling of threat.
  • Communicate with creditors: the problem gets worse if you ignore it.
  • Make an offer: any offer, no matter how small, is better than none.
  • Never negotiate on the phone: do it in writing; it’s less stressful.
  • You don’t need to be alone: get help from a debt advice organisation.
  • Keep records of all communications: it pays dividends.

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