You don't need to "starve" yourself. I have been overweight for most of my life,topping out at 226 lbs about 4 years ago. I am also 5'5" tall. I finally decided that I was ready to get off some weight and keep it off. I chose to follow the basic guidelines of the Atkins diet,where you increase your protein intake and decrease your carbohydrate intake. I didn't use a book or anything, I just kept up with my carbohydrate intake.
The first 2 weeks,you need to limit your carb intake to 20 grams per day,maximum. If you aren't familiar with carbs,you basically need to avoid anything white: Bread,sugar,pasta,potatoes,crackers,etc. You can read food labels to check the carb count in any food that is labeled. I lost 7 lbs in the first week,then anywhere from 1 - 4 lbs per week after that. In about 8 months, I was down to 162 lbs. I have kept most of it off with the exception of 5 -7 lbs occasionally,in which case I always get it back off.
I'm going back on the diet myself after Christmas so I can get down to about your current weight. Good luck with whatever you decide,but make sure you're doing it for the right reasons; not just because you want to be thinner because you think you'll be more attractive if you're skinny. Being healthy physically AND mentally is what's important. True beauty comes from within.