Bankruptcy Law Saved My Business & My Wallet! #shorts

Added: 2026-05-28

[00:00:00]I used two two or three kind of data points and principles. First thing I said is okay, I researched US bankruptcy law at that time when I was going and it basically said that okay, if you basically become personally bankrupt because I I had taken I had applied for every credit card I could get. So, I had $70,000 of credit card limits I had not yet used. I had 30,000 in my 401k that I had not yet used. I knew that once I left, the paycheck would stop and this money would start getting used. So, I knew at some point there would be 70,000 of debt.

[00:00:36]So, my question was that okay, if the business fails and I have to go back and take a job, what do I do with the debt, right? And I researched that I can declare bankruptcy personal bankruptcy and it would be [music] wiped clean and I get to start over.

[00:00:49]So, I said okay, that's good. And I said okay, I I'm qualified [music] and probably in a month or two I can get a job.