Official Review: The No B.S. Guide to Rebuilding Credit a...
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Official Review: The No B.S. Guide to Rebuilding Credit a...
[Following is the official OnlineBookClub.org review of "The No B.S. Guide to Rebuilding Credit after Bankruptcy" by Joseph Brown.]
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The No BS Guide to Rebuilding Credit after Bankruptcy by Joseph H. Brown, Esq. is a book that is worth the price and the short time that it will take you to read it. I can truthfully say that it is accurate because I experienced bankruptcy in 1989. I did rebuild by credit, but if I had the information that this book provides, I would have accomplished it so much sooner. The book is not long at all and it outlines the steps to achieve a good credit score within twelve months of having your bankruptcy discharged. We all know how important credit scores are when the time comes to buy a home, automobile, or even insurance. Everyone out there wants to know how we manage our finances, so following this plan will put you in a great place with the three credit bureaus.
Interestingly, this instruction book is the work of a bankruptcy attorney. A lot of the information out there about life after bankruptcy is false, so he uses his knowledge to help his clients after the bankruptcy is over. Quite simply, he presents a ten step program to rebuilding your credit to a score of between 680 and 720 after twelve months or he will refund the purchase price of the book. He explains the difference between Chapter 7 and Chapter 13 bankruptcies and how you can build a good credit history with either. You will learn what a credit score is; how it is determined; how it is used; and finally, why your score matters. I remember always saying that if I had good credit I would not need it and the people who do not need it can easily get it. When you live from paycheck to paycheck it is so easy to miss a payment and so hard to catch up. So the cycle of bad credit history begins.
Mr. Brown outlines ten steps to follow and none of them are difficult if you can muster some self-discipline. The first step, establishing an emergency fund of between $1,000.00 and $1,500.00 may cause some people grief, but by now your unsecured obligations are gone with the wind and with a little determination you can have that fund in no time at all. He suggests placing things you do not use around the house on Craigslist. Your home will have less clutter and you will be much closer to the prize. Time permitting, a part-time job can help with this step too.
Once you have accomplished step one, he will guide you through the next nine steps. Some of these include signing up for a credit report watch service, as you will need to check your credit reports often to insure accurate reporting. Closely monitor your reports and dispute anything that is not properly reported. You will apply for your first credit card since your bankruptcy and join a credit union, where you will participate in a credit rebuilder loan program. By the time you reach the tenth step, you will have two credit cards, a credit builder loan with the credit union, and that score that he promised.
I love the advice that he has to offer as well. He recommends staying away from credit repair agencies because they cannot do anything more for you than you can for yourself. Rebuilding credit takes time and that is the bottom line. The other point he emphasizes is that after the bankruptcy is discharged, your creditors can no longer submit derogatory reports about you to the credit bureaus. If they do, contact your bankruptcy attorney: the activity will stop and you may be able to recoup your attorney’s fees and court costs. Some of his clients did their due diligence and reported problems such as this and as a result their bankruptcies actually ended up being free! Finally he will dispel bankruptcy myths such as the inability to buy a home or purchase a car. Mr. Brown also provides ten additional steps for credit rehab so you can stay on course. Sometimes we all need a little help and there is no reason to feel shame. If you or someone you know is contemplating the legal right to file bankruptcy, please get this book. It will put you on the road to financial health. I give this book a four out of four.
***
Buy "The No B.S. Guide to Rebuilding Credit after Bankruptcy" on Amazon
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Interestingly, this instruction book is the work of a bankruptcy attorney. A lot of the information out there about life after bankruptcy is false, so he uses his knowledge to help his clients after the bankruptcy is over. Quite simply, he presents a ten step program to rebuilding your credit to a score of between 680 and 720 after twelve months or he will refund the purchase price of the book. He explains the difference between Chapter 7 and Chapter 13 bankruptcies and how you can build a good credit history with either. You will learn what a credit score is; how it is determined; how it is used; and finally, why your score matters. I remember always saying that if I had good credit I would not need it and the people who do not need it can easily get it. When you live from paycheck to paycheck it is so easy to miss a payment and so hard to catch up. So the cycle of bad credit history begins.
Mr. Brown outlines ten steps to follow and none of them are difficult if you can muster some self-discipline. The first step, establishing an emergency fund of between $1,000.00 and $1,500.00 may cause some people grief, but by now your unsecured obligations are gone with the wind and with a little determination you can have that fund in no time at all. He suggests placing things you do not use around the house on Craigslist. Your home will have less clutter and you will be much closer to the prize. Time permitting, a part-time job can help with this step too.
Once you have accomplished step one, he will guide you through the next nine steps. Some of these include signing up for a credit report watch service, as you will need to check your credit reports often to insure accurate reporting. Closely monitor your reports and dispute anything that is not properly reported. You will apply for your first credit card since your bankruptcy and join a credit union, where you will participate in a credit rebuilder loan program. By the time you reach the tenth step, you will have two credit cards, a credit builder loan with the credit union, and that score that he promised.
I love the advice that he has to offer as well. He recommends staying away from credit repair agencies because they cannot do anything more for you than you can for yourself. Rebuilding credit takes time and that is the bottom line. The other point he emphasizes is that after the bankruptcy is discharged, your creditors can no longer submit derogatory reports about you to the credit bureaus. If they do, contact your bankruptcy attorney: the activity will stop and you may be able to recoup your attorney’s fees and court costs. Some of his clients did their due diligence and reported problems such as this and as a result their bankruptcies actually ended up being free! Finally he will dispel bankruptcy myths such as the inability to buy a home or purchase a car. Mr. Brown also provides ten additional steps for credit rehab so you can stay on course. Sometimes we all need a little help and there is no reason to feel shame. If you or someone you know is contemplating the legal right to file bankruptcy, please get this book. It will put you on the road to financial health. I give this book a four out of four.
***
Buy "The No B.S. Guide to Rebuilding Credit after Bankruptcy" on Amazon
Latest Review: "Deadly Secrets" by Robert Boris Riskin
