What do you believe happens when we die?
Once you've judged yourself, you go to a place of contemplation -- Moymell, the Pleasant Plain -- where you reflect upon this and everything else, where you learn from the other souls currently in residence -- friends you had in life, and strangers also, souls from all levels of development and all ranges of mundane time. You assimilate what you learn and you weave it into the tapestry that is your discarnate soul, and when you have finished with that, you choose your own next incarnation according to what you have learned. If there's stuff you have to make up to other people, you will choose a vehicle by which this can be done. If stuff has to be made up to you, you will choose a vehicle that will track with those chosen by the souls who have to make those things up to you.
Moymell is not hell or purgatory; it's not a place of punishment. It's more like an astral-plane college campus, an afterlife artists' colony. It's a very beautiful place -- it's that place we get homesick for when we get into that mood of missing something we can't define. And we stay there for as long as we need. The older a soul you are, the more times you have been through this, the longer you will take between incarnations -- because there's more to assimilate. Young souls zip back pretty quickly, sometimes almost instantaneously; an old soul can hang around between lives for centuries. In the end, you yourself will be the judge of when it's time to step off the Wheel altogether, and move along to something higher.
I personally find this extremely comforting. Even Jim liked the idea of reincarnation -- well, inasmuch as he approved of any sort of afterlife. He really just wanted to sleep forever when he died, as he once told me, and was very much put out when I laughed at him and told him how hard he'd have to work to deal with the truckloads of karma he'd cooked up for himself this time around; but upon further consideration he said that if he couldn't sack out for eternity, then another chance to get things right probably wasn't such a bad deal after all.