Bankruptcy should NEVER be the end of the road for you. It should ALWAYS be a launching pad to a financial security. Your bankruptcy should help you begin a brand new, more confident, worry-free way of living. Bankruptcy should help you create a sense of peace around your finances.
Most people, however, see bankruptcy differently. They see repairing or rebuilding credit after bankruptcy as a finish line at a track meet. They think their main goal is to get credit again as quickly as possible. From the finish line, everything looks GREAT.
Here’s what you DON’T see.
1) jump off into the deep water,
2) do everything possible to fix your credit score, and
3) as quickly as possible swim madly toward the other side, where “new credit” waits for you.
These three steps are actually the WORST actions you can take to repair credit after your bankruptcy.
Let me tell you why.
First, the quick credit repair water is filled with sharks and riptides and hidden rocks and underwater mines. What you can’t see makes rebuilding your life after bankruptcy a rough trip. Most experts don’t even tell you about the real dangers of what to do after your bankruptcy discharge.
Lots of these “experts” tell you to go ahead and jump in – the water’s fine.
They remind me of a story my father used to tell me about how his cousin, Lars, wound up paralyzed from the neck down (and then died), shortly after graduating from high school.
My father and his buddies were looking to cool off on a hot Illinois summer day. They found a new lake, with a pier. While Lars was parking the car, they all got in the water. When he arrived at the end of the pier, he saw a bunch of guys in water up to their necks. So he took a running start and leaped head first off the pier. He acted quickly. So quickly that not a single one of them had a chance to stand up and let him know the water was really only waist deep.
Imagine, your whole life ahead of you, newly graduated from “bankruptcy” and then, bam. It’s all over. You and your finances are on life support. You rush to raise our credit score after bankruptcy and wind up deep in debt again after bankruptcy. Eventually you have to pull the plug, and declare bankruptcy AGAIN.
It’s what the experts DON’T tell you that you should be looking out for. And it’s what some credit repair specialists who help people after bankruptcy NEVER share – that they’ve gone bankrupt not one, but twice!
Most experts in the “credit repair” business work hard to focus your attention on the “dangers” of not having a good credit score, or not having access to large amounts of credit. They rarely tell you about the real perils. They assure you they’ve got a map to help you navigate those waters.
They claim they will show you how to improve your credit reports with strategies like questioning and deleting items so you raise your FICO credit score like magic and get qualified for new credit at low interest rates right away after your bankruptcy.
I don’t usually point out other people’s failings. But it steams me when someone says they’re helping people rebuild after bankruptcy when the strategies they’re suggesting will put you deeper in debt than ever before. And when they KNOW it, because it happened to them.
One such expert is Steven Snyder, founder of the After Bankruptcy Foundation and co-owner of Allen Michael Credit Repair. He went bankrupt a second time in July of 2012. After teaching people how to build a new life after bankruptcy, and how get new credit quickly after bankruptcy. Steven Snyder had accumulated more than 18 MILLION dollars in “credit after bankruptcy” — using the strategies he recommends.**
Steven Snyder doesn’t share details about his second bankruptcy when you register for his free seminar (he only mentions his 1993 bankruptcy). At his seminar he also sings the praises of a credit repair service (Allen Michael) as having helped him raise his credit score over 700 and helping him get new credit offers lickety-split.
Snyder also doesn’t tell you Allen Michael Credit Repair was founded by him, or that Snyder gets part of the fee you pay them EVERY MONTH to help you rebuild your credit.
Snyder’s life after bankruptcy websites offer hundreds of “on the spot” testimonials. What he doesn’t tell you are the heartbreaking stories we hear from these same people. These folks offered up a testimonial in exchange for a discount on the credit repair services BEFORE they used them. And, JUST LIKE HIM, they wound up deeper in debt than they were BEFORE they went bankrupt.
Steven Snyder reminds me of the spoiled little girl, Veruca Salt, from the movie Willy Wonka: “I want a golden goose, daddy, and I want it NOW!”
If you’ve got the same attitude as Veruca, then, please, by all means, contact Steven Snyder and follow HIS plan for raising your credit score and getting access to new credit. You can do both of those much more quickly with his system. Here’s something else, Steven Snyder won’t tell you. He ordered my book after his first bankruptcy. A book filled with tips and tools and strategies that have helped nearly a million people regain a firm, permanent financial footing after bankruptcy.
The problem was, my book didn’t get him access to quick credit as easily as he wanted. So he created his own system. And wound up back in bankruptcy court. Just like him and other quick fix credit repair companies, chasing blindly after new credit cards, mortgages or car loans will end with you running out of road, flying off the end of the pier and churning your legs in mid-air like Wile E. Coyote — as the reality of your new expansive debt hits you.
So, if you’re looking for a quick fix, do yourself one favor before you leave this page: bookmark our website’s address.
Because you’re going to need it in a few years.
The first approach requires you to jump into the deep water with absolutely NO idea what is lurking beneath the water. (Steven Snyder used the approach he sells and wound up so deeply in debt he had no choice but to go bankrupt again.)
The second strategy gives you a helicopter, waiting for you at the edge of the pier, all fueled up, with a seasoned pilot at the helm. The pilot is ready to carry you over the unknown waters to a place where you can balance the cash flow in your life, build savings, buy the house of your dreams, get a decent interest rate on a car loan and raise your FICO score WITHOUT trying to beat the system or getting caught up again in the cycle of juggling debts and paying minimums every month and thinking THAT gives you good credit after bankruptcy.
Who Am I to Make Such Claims?
My name is Paula Langguth Ryan. I went bankrupt in 1985 at the age of 21. A year later I was $3,000 in debt again. I vowed there had to be a way to deal with money differently. So I started educating myself. I eventually became a financial editor for Phillips Publishing and a ghostwriter for nationally syndicated financial columnists in magazines like Money. I’ve appeared on hundreds of national television shows, radio shows and in newspapers and magazines as an advocate for people who have experienced bankruptcy, foreclosure or other financial hardships.
Why? Because in 1993, I wrote “the book” on getting credit after bankruptcy. I was the first consumer to ever do so. All other books were written by bankruptcy attorneys who had never “been there, done that.” 21 years later, my book is still a best seller, currently in its 4th edition (a 5th edition will be out in early 2015!).
I have devoted my life to helping people rebuild their lives after bankruptcy (not just get credit again) for 21 years. I’m also a mediator and debt negotiation specialist. Bankruptcy attorneys send people to me to help them get out of debt when bankruptcy isn’t their best solution. I even was asked to testify before the National Bankruptcy Review Commission when Clinton was president and now-senator Elizabeth Warren was a little-known professor (and the only person on the Commission who asked me any intelligent questions!)
Here’s what I’m most proud of…
Two decades after my book first came out, bankruptcy attorneys and trustees nationwide STILL recommend Bounce Back From Bankruptcy as “THE best resource for recovering from a bankruptcy.” Some even tell their clients that “if they follow the advice in the book early enough, they may not even have to declare bankruptcy.” That’s what I call a recommendation!
And I’ve taken my work a step further. I’ve created a program called“Break The Debt Cycle — For Good!” to help you stop the cycle of debt that got you stuck carrying balances and making minimum payments in the first place. (My forthcoming book by the same name is due out later this year!)
Here’s how to get your free 48-page “Credit After Bankruptcy” report, which I call the Do’s and Don’ts of Bouncing Back From Bankruptcy. Fill out the short form below to get your free copy of the Do’s and Don’ts of Bouncing Back From Bankruptcy “Credit After Bankruptcy” Special Report immediately sent to you via email, with download instructions!
ONE LAST THING…
Please promise me you’ll use your bankruptcy as a launching pad to a more secure, peaceful financial future for yourself and your family.
Promise me that you won’t run straight back into the arms of creditors and get that $400,000 mortgage, brand new car loan or start carrying a balance on a bunch of credit cards just because a credit repair expert says that’s the best way to “rebuild your life after bankruptcy.” Don’t subscribe to an on-going monthly credit repair company’s program.
Unless the vision you have for your life after bankruptcy is as debt-riddled as your life BEFORE bankruptcy!
To get you started, you can instantly download a free copy of my Do’s and Don’ts of Bouncing Back From Bankruptcy by filling out the form below.This 48-page guide will help you with the basics.
You’ll also find more powerful free resources for building true financial security in your life on my website. Visit, subscribe to my newsletter, listen to the free audios and expand your world.
* As reported in the Indianapolis Business Journal (including more than $1 million in credit card debt)