The churches' version is a bit more sensible, but still dumb. Their version of it has you, the spirit surviving the death of you body, going somewhere to wait. Then at the resurrection time, god makes you a new body from dirt and injects you the spirit back into the animal/dirt body he just created, in order to face a judgement.
Close but not totally accurate -- at least not the Christianity I am familiar with.
Yes, the spirit survives death and if you "died in Christ," your spirit goes and stays with Him until the rapture/resurrection of the saints/Body of Christ, at which time Christ descends from heaven in the clouds (does not come all the way back to the earth at this time), and brings those spirits with Him, and their spirits and bodies are reunited at that time and instantly changed "in the twinkling of an eye" into immortal, incorruptible bodies like Christ has had since His resurrection. (1 Th 4:13-18; 1 Cor. 15). Flesh and Soul (your mind/will/emotions/intellect) and Body are reunited at that time and instantly changed to eternal bodies fit for glory with Christ so we can "see him just as he is." Ditto for "we who are alive and remain" at the time of that rapture/resurrection of the saints in Christ. That group will never have to die at all, but will be "caught up" to the clouds to meet the Lord in the air, and their bodies also will be instantly changed to immortal, incorruptible bodies.
Lastly, the "judgment of these believers" is not a judgment as to salvation (since we were eternally sealed/saved upon putting faith in Christ's shed blood for our sins), but the "judgment" believers will face is the "judgment seat of Christ" a/k/a the Bema Seat Judgment, which is when believers will receive crowns and rewards or whether their crownds/rewards will be withheld. Salvation was already guaranteed at the time one puts faith in the finished work of Christ for our sins, but rewards are not an automatic "done deal":
Romans 14:10-12 : “For we will all stand before God’s judgment seat…so then, each of us will give an account of himself to God.” 2 Corinthians 5:10: “For we must all appear before the judgment seat of Christ, that each one may receive what is due him for the things done while in the body, whether good or bad.”
ALL of Paul's writings are directed to Christians, not unbelievers, so those verses apply to us.
Here's a few snips that explain it rather succinctly: http://www.gotquestions.org/judgment-seat-Christ.html
The Judgment Seat of Christ does not determine salvation; that was determined by Christ’s sacrifice on our behalf ( 1 John 2:2 ), and our faith in Him ( John 3:16 ). All of our sins are forgiven and we will never be condemned for them ( Romans 8:1 ). We should not look at the Judgment Seat of Christ as God judging our sins, but rather as God rewarding us for our lives. Yes, as the Scriptures say, we will have to give an account of our lives. Part of this is surely answering for the sins we committed. However, that is not going to be the primary focus of the Judgment Seat of Christ.
At the Judgment Seat of Christ, believers are rewarded based on how faithfully they served Christ ( 1 Corinthians 9:4-27 ; 2 Timothy 2:5 ). The things we will likely be judged on are how well we obeyed the Great Commission ( Matthew 28:18-20 ), how victorious we were over sin ( Romans 6:1-4 ), how well we controlled our tongue ( James 3:1-9 ), etc. The Bible speaks of believers receiving crowns for different things based on how faithfully they served Christ ( 1 Corinthians 9:4-27 ; 2 Timothy 2:5 ). The various crowns are described in 2 Timothy 2:5 ; 2 Timothy 4:8 ; James 1:12 ; 1 Peter 5:4 ; and Revelation 2:10 . James 1:12 is a good summary of how we should think about the Judgment Seat of Christ, “Blessed is the man who perseveres under trial, because when he has stood the test, he will receive the crown of life that God has promised to those who love Him.”Recommended Resource: Your Eternal Reward: Triumph & Tears at the Judgment Seat of Christ by Erwin Lutzer.
As for the other group, if you died NOT "in Christ," your spirit goes to the "temporary holding cell," Hades, where your spirit will stay throughout the 1,000 year reign of Christ, until the Great White Throne judgment (Rev. 20:11) which takes place subsequent to the Millenium. At that time all those who did not die "in Christ" (ie, the "unrighteous") will be resurrected and given a body and they will be judged according to their deeds. And since they never took advantage to have all their sins removed (inherited from Adam at our births, not to mention all the sins we commit after that) and which no man can remove his own sins except by belief in Christ's death/burial/resurrection, they will have to "pay" for their own sins under the Law, ie, eternal separation from God, in their flesh bodies, into the "permanent prison," ie, the Lake of Fire.
God is Holy and He cannot have unholy sinners in his presence. He"makes us Accepted in the Beloved" (Eph. 1:6) simply by our accepting the finished work of Christ on our behalf. If we reject that provision, by default we are choosing to pay for our own sins, as described above.
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If anybody is interested in doing more research, search for "Judgment Seat of Christ vs. Great White Throne Judgment."
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I'm going to add some fantastic charts below to show the absolute beauty of the hope of the believer...