The picture is what happens to a business without a budget. We talk about having a family budget, or the family finances fail. This principal applies to a family business even more. Most people open up their small business on Monday, thinking they will pay themselves Friday with their first week’s profits. That is not…
Some real life examples of Dave Ramsey lessons.One of his myths from Total Money Makeover: “You can get a good deal on a car at 0% interest.” I agree that is a myth. With permission, without using names, here is some of an email exchange with a current potential bankruptcy client. “Some credit cards give…
“Is there any way to stop the debt collectors before I file bankruptcy? I can’t stand the creditor harassment!” I get this question all the time. People report creditor abuse like, they told me the sheriff would come and arrest me if I did not tell them where my brother’s car was. Creditor harassment like…
The Total Money Makeover by Dave Ramsey talks early on about denial, specifically, denial about what shape my family finances are in. I see this all the time in my business. People who contact me uniformly do NOT have any kind of family budget. The first step in figuring out what to do with your…
“Now, bankruptcy is, and should be, a last resort.” This is not a Dave Ramsey quote from Total Money Makeover, it is something that I have been telling people for years. Well, sometimes there is no other way out. So, what if you have already filed bankruptcy? Your case is over, you have your discharge,…
Bankruptcy clients ask me all the time: “My husband/wife does not want to file, what if I do, does he/she have to ?” Nope. The bankruptcy code does provide for involuntary bankruptcy, but that is a complicated process in which creditors get together to throw a person or corporation into bankruptcy court so they can…
