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The Ramsey Show Highlights

We Started a Business and Now Face Bankruptcy

The Ramsey Show Highlights

Ramsey Network

Education, Investing, Business, Self-improvement

4.5838 Ratings

🗓️ 16 August 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

💵 Start your free budget today. Download the EveryDollar app! Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more! Next Steps 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 📝 Share your thoughts on the show! Listen to more from Ramsey Network 🎙️ The Ramsey Show   🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Brought to you by the Every Dollar app. Start budgeting for free today.

0:06.6

So my husband and I, we started a trucking company in 2022. He was the owner-operator previously.

0:14.0

And since we started the company, we just kept losing money. And now we're at the point where we have everything maxed out,

0:23.4

all our credit cards, business credit cards and personal.

0:27.5

We have a truck loan and we had a claim that wanted to go into court,

0:34.2

but they kind of backed out for now.

0:36.1

We have two, um, few, um, companies that actually need their payments as well.

0:45.6

Um, so that's our situation right now.

0:47.8

And we, we don't know if we should be filing bankruptcy or if we need to figure

0:53.3

something out because we really don't want to file

0:56.1

bankruptcy but it's just that everyone's calling us you know scary yeah very very scary

1:02.8

so right now we have two little girls and how old are your babies? One's about two months.

1:11.4

One's just turned four.

1:13.2

Wow.

1:15.0

So what are you guys?

1:16.1

28?

1:18.1

We are in our 30s, early 30s, 32 and 33.

1:22.4

Okay.

1:23.1

All right.

1:24.4

Okay.

1:26.8

So he's still running the company, right?

1:30.4

So for now, we had to shut down because our insurance was just costing way more than we were making.

...

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