It was an honor and a lot of fun to be a guest on a podcast to discuss navigating a debt crisis. The hosts John Close and Andrew Langford are great hosts. Their show Obstacle Course is focused on helping people embrace challenges and overcome adversity. This episode is me sharing about my own experiences overcoming adversity from a financial reversal. Have a listen –
Here is a summary of the Show:
SLOW BLEED – we discuss how a financial reversal (losing money or lowered income) creates a horrible feeling of slowly bleeding out money and usually follows with a speedy increase in debt which then can create a feeling of Hopelessness.
HOPE – there is hope for those in debt, it is possible to use one of many discussed strategies to eliminate your debt, listen to the podcast or contact us for help with your debt.
NOBODY IS ABOVE THIS – Our message is to not judge people who get stuck in high levels of debt because it can happen to anyone.
Crisis Happen – Almost everyone will experience at some point in their life a financial reversal, and an unforeseen crisis/event can easily destroy savings and cause anyone to rack up debt fast. People tend to think they are above this and it could never happen to them, but the reality is that every day there are good smart people that end up in a debt crisis, and it is usually from an unavoidable catastrophe such as loss of job, sickness, divorce, business failure, or any other of a number of unforeseen negative life events.
PREPARE FOR MURHPY – You can’t stop life events from happening (murphy’s law), but there are ways to be better prepared, and by being prepared it is possible to avoid a debt crisis, even during a negative financial life event.
SHARED EXPERIENCES – Benjy offers hope by sharing some of his own experiences in dealing with a difficult debt situation from a failed business.