Thread: Financial ruin

See post #9 for update.

huh ???

i hate it when spider monkeys rape dogs without vaseline.

best thread evar?

I read this earlier when he first posted!! I don't know what happened to his post though??

I guess he had second thoughts about putting all his business out here???

Someone save this thread!!!!!!

Originally Posted by Germany

Someone save this thread!!!!!!

To the resque!

^^^Thank you!

Originally Posted by fishman042002

I read this earlier when he first posted!! I don't know what happened to his post though??

I guess he had second thoughts about putting all his business out here???

Not really. Just tried to think of a better way to clarify. Let me try again.

$4,000 will make or break me. That will get my failed business debt free so I can try again and start the second venture using the lessons learned from the first. My debtor wants it in full yesterday. Blood from a turnip. I can only make payments, which are unacceptable by his admission.

I've got a 4yo son and a daughter due in June. Family needs me, so suicide is not an option. Put off personal bills to settle business debts, which ruined my credit and now I can't get a loan to settle the last debt my company has. No friends or family to help.

I'm out of options with my back against the wall. Shit's going to get fucking ugly if I don't figure something out soon. Too stressed to think clearly.

Hey Tubby hope things get better for you. We all have moments of weakness and stress but we have to just keep fighting. (From a different thread) This post still to date was one of the best I've read on L4p.

Originally Posted by tubby

Know how you feel.

29yo, married, 4yo son, wife is prego with our second child due this summer. $30K in student loan debt, $15K on my CCs, $7K on the wife's CC. $26K balance on the mortgage (house was dirt cheap).

Have about $78K in debt right now. I make $9.79/hr at my day job. Wife makes about a dollar more per hour than me. Business failed the first time and I had to get a day job to settle up business debt and provide some sort of financial stability for my family. Struggling to get the business back up and running. With bootstrapping my business due to ruined personal credit from not being able to afford to pay my CC bills, it's impossible to get it off the ground. I've got $3,000 in equipment that's sitting idle because I can't afford to get components to make my product to sell than I know will sell and get my family out of this situation. A thousand dollar investment is all I need to get things moving and get revenue/profit coming in. It will happen, but I've got to make it happen.

But I keep plugging away. We've eliminated most luxuries in our house. Internet and very basic cable TV is it. I need a way to market my business and provide for customer contact. No landline phone, only a Tracphone for emergency since we can't afford anything more. I can't afford to buy soda at work from the vending machine, so I saved a 20oz bottle and bring Kool-Aid with me to drink. I would spend $4/day at the machine with soda and snacks on breaks. A pathetic amount, but that's $80 a month given away to someone that really doesn't need it as badly as my family does.

Selling out of my hobbies to pay down debt; hunting, golf, bowling, video games, mountain bike, motorcycle (el cheapo), sold all my guns except one for protection. It hurts to see all I worked for be gone for less than market value because I'm desperate for money.

The best thing so far is I have a steady full time job. The company I work for is far from "good" but I'm so glad to be able to clock in every day and get a paycheck every two weeks.

It's tough. It's heartbreaking to have to accept the fact that I can't provide for my family. It's tough accepting the fact that the only way your child can have enough food is to accept assistance from a social program I'm against philosophically.

But guess what? No one feels sorry for me and no one ever will. I got my family into this situation and I have to be the one to get them out. Sleepless nights, unspeakable stress, paycheck to paycheck, day by day. I've hit rock bottom, then fell again. Only thing keeping me alive is my son and unborn child. If it weren't for them, I'd do the cowardly.

But I go down fighting on my feet, not crying on my knees. I will emerge a better, stronger person for what I'm going through. My family will be closer than ever. My business practices better than ever. At the point I'm at in life, the only way to go is up. Things are on the upswing and in the next few months success will be gaining momentum.

Don't get discouraged. Ever. Things are going to be fine. Things are going to work out. Having a lottery mentality is for the weak. Don't wait for a rescue mission, rescue yourself. Or as my business mentor said "Lift up your skirt, grab your balls, and man up. Success doesn't suffer the weak. The strong ones are the ones that make it. Success isn't waiting to be found, it's all around us waiting to be made."

The first move is internal. Organize, focus, then action. Don't forget to review your actions. Did that work? Why did it work? How could I improve what I just did? Society measures a man by how he picks himself up after he falls down.

I leave you with one final statement: You have a wife that loves you and a child that adores you. You, sir, are among the richest of all people in the world. Everything else in life is a simple luxury.