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    Bankruptcy. Rebuild Credit and Wealth Quickly. Rise Above Feeling Hopeless.
    Bankruptcy. Rebuild Credit and Wealth Quickly. Rise Above Feeling Hopeless.
    Bankruptcy. Rebuild Credit and Wealth Quickly. Rise Above Feeling Hopeless.
    Ebook99 pages1 hour

    Bankruptcy. Rebuild Credit and Wealth Quickly. Rise Above Feeling Hopeless.

    By Raymond Perley

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    About this ebook

    Are you considering bankruptcy? Have you already filed for bankruptcy?
    This book is an important tool in your library to sort through your thoughts if you are considering bankruptcy as an option. Once you made the decision and you follow through, you'll need time to sort through the feelings that come with filing. Then, you can start rebuilding credit and wealth quickly. This book will help you make the important discovery of how you got to the point of bankruptcy so that it doesn't happen again, and it will improve your financial future the same day you file. There are several things to take into consideration before and after filing, and this book addresses those details. You’ll discover the hidden barriers within that prevent you from taking the step, and the barriers that led to bankruptcy.

    After reading this book, wealth creation and money management will become more natural for you. Debt will become a thing of the past.

    This book is a brief read to significantly help you rebuild your credit, and to create wealth as fast as possible. The author removes all the fluff and gets down to the brass tacks quickly so that you rapidly learn

    internal barriers that hinder your relationship with money
    your worldview or beliefs about money that held you back
    fundamental principles of finance
    money management
    investing
    wealth creation
    credit repair and recovery
    "Follow this guide and you will build your credit faster than you thought possible and it will help you develop a plan to increase your wealth."
    This book will help you decide if you are prepared to take that next step, and it will give you a heads up on getting back on your feet faster than you thought you could.

    LanguageEnglish
    PublisherPerley Publishing House
    Release dateApr 17, 2016
    ISBN9781311651648
    Bankruptcy. Rebuild Credit and Wealth Quickly. Rise Above Feeling Hopeless.

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      Book preview

      Bankruptcy. Rebuild Credit and Wealth Quickly. Rise Above Feeling Hopeless. - Raymond Perley

      Bankruptcy. Rebuild Credit and Wealth Quickly.

      Rise Above Feeling Hopeless.

      Raymond Perley MTS

      Bankruptcy. Rebuild Credit and Wealth Quickly.

      Rise Above Feeling Hopeless.

      Copyright © 2021 by Raymond Perley

      All rights reserved. The contents of this book or any portion thereof should not be used without the express written permission of the publisher, except for the use of brief quotations in a book review.

      ISBN: 978-1-7775912-2-9

      Perley Publishing House

      Table of Contents

      Introduction

      The Internal Financial Thermostat

      Benefits of Budgeting

      EFT For Your Finances

      LOA in Finances

      Understanding Finances

      It’s Time To Repair Your Credit

      Closing Remarks

      Recommended Reading

      Introduction

      I was drowning in a feeling of financial isolation. I felt like I was on an island of my own and the waters were rising, and there was nobody to rescue me. That was the feeling I got many years ago. I needed help. I remember most of the details of that day clearly, even though it was over 8 years ago as we sat in silence on the other side of the lawyer’s desk that had stacks of files on the end of her desk and behind her on a table. We watched her fill out most of the paperwork while we occasionally glanced at each other. I felt like a failure. A man who had no way out or no solution to get our family out of this financial hole we dug ourselves in. I could hear the low key chatter in the distance outside her office and the muffled sound of the traffic outside her window. I turned my head away from my wife in shame and looked out the window. It felt like my ears were ringing as I fought back a wave of negative emotions.

      What am I doing? How did it get this out of control?

      A year earlier, I tried to get it under control through consumer credit. It helped to lower our debts. Slightly. I wanted to do the right thing and pay for what I owed. But it was a losing battle. The debt collectors continued to call and harass us despite consumer credit negotiating payments with our creditors. According to their calculation, we would be out of debt in 10 years. That was way too long for us to wait for mental, emotional, and financial relief.

      We were at the end of our rope and needed a way out fast. We did our research for 6 months and it looked like bankruptcy would benefit us greatly. There would be a significant credit hit for seven years, but at that point, it was still better than waiting 10 years to pay our debt to zero.

      Before taking that leap, I found out that the reason it would take consumer credit that long to pay down our debt was because they were taking their cut first and then paying our creditors crumbs. After doing deeper research, we found out that their service did more damage to our credit than wiping out what we owed. The reason for that is outstanding balances remained in a state of non-payment. Then, after we would finally get the debts paid off, the credit damage would have carried on for years afterwards. This information infuriated us, especially since the biggest reasons we used their service was to get rid of the harassing phone calls that came all hours of the day. Plus, we wanted to get our financial lives back in shape, which included repairing our credit as soon as possible, not wait an additional 3-7 years after they paid our debt off. This pushed us to file for bankruptcy.

      The lawyer finished filling out the documents and turned it toward us to sign it. The moment we signed the paperwork, she reached over her desk, opened her hand and asked us to hand over our credit cards. She cut them up right in front of us.

      Okay. You are no longer obligated to pay any past debts. Everything you owe is wiped clean. If you get any phone calls from creditors, refer them to us. But I don’t you’ll get any phone calls. Good luck. We’ll see you when you file your taxes.

      That moment was surreal for both of us. We both walked out of the office feeling numb. We felt a little light-headed as our brain struggled to comprehend the notion that we owed nothing to anyone. In one swift stroke of the pen, we were debt free. We had mixed feelings; on one hand, we felt like losers for not being financially responsible. On the other hand, we felt a tremendous weight removed from our shoulders.

      The experience baffled us, because we didn’t give her any money or pay any fees. Instead, we agreed that her company could keep a portion of our taxes the following year. We just had to plan on not getting any tax return for the following year. That was the start of learning to plan our financial future.

      It took us a few hours for that numbness to wear off from the experience of filing and working through the feeling of not drowning anymore. After that, it sank in that we were debt free. I remember telling my wife that it feels good to be free of the burden of debt, but now I’m concerned about what our financial future will look like. We knew in theory what bankruptcy would do to our credit. We did our research, and we thoroughly educated ourselves on it, but now we were about to find out exactly what it would do. The transition from thinking about filing for bankruptcy and doing it is what gave us all these mixed feelings.

      We actually did it. We took that step and now we owe nothing to nobody. Wow! I had to vocalize it to my wife so that it sank in.

      It wasn’t until the next day, after we got some rest from the highly emotional event, did we realize we were free from the burdens that held us captive. We felt carefree, and we didn’t get a single phone call. Suddenly we realized that from a swift stroke of a pen, we had more usable income to use as we pleased. We celebrated by taking the money that would have normally gone to consumer credit or any other creditor and went out to eat. That celebration helped to make it sink in. Bankruptcy for us was definitely a good thing.

      The biggest and most notable difference in our finances was the usable cash flow we now had. Bankruptcy allowed us to have more money to work with each month, while consumer credit kept putting us deeper in the hole. That’s why it was so liberating. We finally had money to take care of most of our needs. That was a major bonus for filing bankruptcy.

      It was relieving to know for the first time in years we had more cash at the end of the month. That alone helped us cope with the mental and emotional effects of bankruptcy and reinforced our feeling that this was the right thing to do at this point in our life. But now we had to consider what we needed to do with that extra cash we had. We didn’t want to go through this again. Nor did we want to put ourselves in this financial vice grip ever again. We took our financial future seriously from that point on.

      After a few years of taking strategic steps to changing our finances, and making some mistakes, I might add, we finally put ourselves in a good financial position. It was at that point I decided other people needed to know what we went through and how we recovered from bankruptcy. You now hold in your hand a great resource to help you through bankruptcy; our own personal story and what we learned. Seeing our life now as I drive around in a one-year-old luxury truck, my son driving a mustang and

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