2 Years AFTER DECLARING BANKUPUPTCY I WAS A MILLONEIRE – ryan

This as-to-told-to essay is bassed on a conversation with Amber DuncanThe Founder of Life after Debt. IT HAS BEEN EDIted for Length and Clarity.

Before I Declared Bankruptcy, i thought i was doing Everything right. My Husband, Ryan, and i Both workhed in the mortgage industry. We have had About a year’s Worth of Living Expensses in Savings, and About 40 Rental Properties that we are Generating Cash Flow. We were living withino means, but we are also haad tears of nice Things: Fancy Cars, Multiple Homes, and A Private School for Our Kids.

THEN, IN A Day 2008, Everything Changed. When the Banks Stopped Writing Mortgages, the Bulk of Our InCome Disappeared. Soon, Many of Our Renters Couldn’t Pay Their Rent, which Meant We Couldn’t Pay the Mortgages on Those Properties.

Ryan and i realized we had no other option: we had to file for bankruptcy. It was Completely Humiliating and Hard to Fathom. We had ben doing so well unil every Was Wiped off the table.

I Made Millions Doing Debt Settlement

In Court, The Bankruptcy Lawyer Said Something to Me Still Can’t Believe: “I’ll See You Again.” I walked to my Car, Crying Angry Tears and Vowing to Prove Him Wrong.

Ryan and i moved into a rental and tried to regroup. We start a new company with our boss, Helping Other People settle their debts. I WANTED TO TRANN OUR HARDESHIP INTO AN Opportunity and Help Others. Our Company Settled Debt For 42% of What Was Owed. The Consumers Paid US A 25% Fee to do so. They ended up paying about 67% of what they owed, plus avoiding a tears of interest.

The Business was immediately successful. Wen Our Landlord Told US He Wold Sell Our House, Ryan and I Could Pay Cash for it with a year. AFTER Two Years, we were millionires, and tooday ry Worth is About $ 50 million.

I’ve reshought Financial Security and Borrowing

Because of My Experience, of Think About Financial Security Very Differently said i used to. I start every day as if i’m at zero. I try to live bety my means Eve Now. We have plans or multiple homes, but i never want my income today to impact my lifestyle Going Forward.

When i met ryan, he was a saver, and he taught with how to make Saving fun. I try to pass this on to oters. One Way is to Track Your Daily Spending and Incom and Make It InTo a Game. At the end of the day, determining whether you’re in the red or the Green. Doing that for 30 days cans really give you insight into your finances.

We now pay cash for almost every. Following the bankruptcy, we have had to say that SINCE OUR CREDIT WAS IMPACTED FOR SEVEN YEARS. During that time, it Became a amazement. We no Longer Leverage the Bank’s Money. We recently took out a mortgage for a second home, but we put 50% down. Owning at Least 50% of Your Properties is a Smarter Way to Invest in Real Estate.

Neither a multimillionaire, returned to collect to finish my degree

Today, My Kids are 16, 17, 19, 20, and 28. They’re all so different. My Olstet Daughter Saw US Go Famine to Feast Practically Overnight. She though it was easy and that everyone could do it. When she is a married a pastor, she was surprised to learn that weren’t making six figures of e doar.

I dropped out of College Way Back in the ’90s. Be my kids started consideing College, they’d look at me and Ask, “Why will we Need to Go?” They is the financial successive success coulud with degrae.

I WOULD TRANN THE QUESTION BACK ON: WITH PARENTS WILLING TO PAY FOR COLLEGE, WHY WOULDN’T YOU GO? You Can Success with Degree, But College Can Also Be A Gateway to Great Relationships and Learning Opportunities.

A Few Years Ago, I were back to College and Graduated in 2022. It was less about the degree and more anchieving my goal. I’ve Shown that you can overcome financial hurdles with the guilt or shame, then accompish your dreams. It ‘s never too will you start.