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I'm calling because I have a net worth of negative $280,000 after a vendor in my business filed for Chapter 7 bankruptcy after we did a job that we were expecting to get paid

around $2.4 million. I'm calling to see because I've always been in business, never really

held a real job. And I'm trying to see if bankruptcy is a good option because I can either take on more debt because it's a low margin business to continue to do these typing jobs.

Or I can figure out how to work off a large amount of debt.

I have around $330,000 in personal debt and $50,000 across six months of living expenses,

my 09, Ford F-150, and a Roth IRA.

Okay, so I'm sorry, $2.3 million and you were $280,000 in debt is not low margin.

That's high margin.

I'm sorry.

The job costs $2.1 million.

I spent all the liquidity that I had and in the business to try to...

Oh, so you put $2.1 million on the table to make $2.2,000? To make $100,000?

Oh, to make $200,000.

The margin is like... It's like...

With no draws and no deposits.

Yes, I personally lost $2.1 million on completing this job.

It's around, it's 17% margin if you don't include credit card points with credit card

points.

It's around 18 and a half to 19% margins.

Okay, but you did not take a single draw or get a deposit of any kind from this customer.

No, they're filing Chapter 7 right now. I know, but you were their bank. I mean, how many of these jobs have you done like this where you put all your chips on the table and then one hand comes up bad? This is the first time a hand came up bad or you just, this is the biggest one you've done?

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