One of the choices that many people have been faced with during this recession is the possibility of bankruptcy. Bankruptcy is a very serious matter, and it can affect your credit — and your ability to get loans in the future. But it isn’t the complete end of the world. Paula Langguth Ryan, a prosperity adviser, offers insight into recovering from bankruptcy in her book, Bounce Back from Bankruptcy.
Bounce Back provides a road map you can follow to help you rebuild your credit and get back on the right financial track. Ryan takes you through the steps of understanding your credit, and what goes into it, as well as how to get copies of your credit report and use them to find a starting point for financial recovery. She then covers the important topics of financial security, breaking the debt cycle and starting to improve your credit.
Once you have the basics down, Ryan helps you see how you can buy a car — and even a home — at some point after bankruptcy. Of course, it takes a few years after bankruptcy to do this, but if you follow Ryan’s road map, you are likely to be able to get back on your financial feet. The book ends with helpful advice, and a friendly chapter on what you can do to get back on track if you find yourself getting in over your head again.
Overall, this is an interesting read, and one that can be helpful if you have experienced bankruptcy.