Patrice Washington was flying high in 2006, with the multi-million dollar real estate company she had started with her husband practically printing money.
But 2007/2008 came, and things went south fast. A high-risk pregnancy finally pushed her over the financial edge—she came out of the hospital with a healthy baby, but massive hospital bills after her insurance company cancelled her policy mid-stay.
Patrice and her husband did anything and everything they could to avoid bankruptcy, a mentor told them “You can’t nickel-and-dime your way out of $2 million in debt.” Bankruptcy wiped out all debts, wrecking their credit but allowing them to start over fresh.
Fast forward a few years, and now Patrice is America’s Money Maven, teaching others how to get their financial house in order to lead their best, most satisfying lives.
Bankruptcy doesn’t have to define you, and this episode is an excellent example for anyone starting over.
Click here to listen on iTunes.
Listen to the Podcast Here
Watch the Podcast Here
Help Us Out!
Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds. Thanks! We really appreciate it!
For the small business owner who is looking to expand their business in the pursuit of financial independence, hiring can be a daunting task. Thankfully LinkedIn is here to help and get you on the path to FI! That’s why you should use LinkedIn to find your next hire, grow your business, and hit that FI number! Most LinkedIn members have not recently visited the top job boards, but 9 out of 10 members are open to new opportunities. That’s why a new hire is made every 10 seconds using LinkedIn. BiggerPockets even uses LinkedIn as part of our hiring strategy!
Hurry to linkedin.com/bp and get $50 off your first job post.
The all-new FreshBooks is accounting software that makes running your small business easy, fast and secure. Spend less time on accounting and more time doing the work you love.
For a 30-day unrestricted trial, go to FreshBooks.com/bpmoney
In This Episode We Cover:
- Patrice’s money journey
- How she dealt with her $400,000 medical debt
- The reason she filed for bankruptcy
- The importance of having a mentor
- How she started her free blogspot while paying off debt
- What she did to rebuild her position following her bankruptcy
- The importance of humility
- The value of creating relationships that matter
- Thoughts on life insurance policies
- Tips for focusing on investing and building a business
- The best support she received
- Her advice to people who are looking for financial help
- How she found her financial advisor
- And SO much more!
Links from the Show
Books Mentioned in this Show
- “I can move on with my life and accept that this is just a season and this should not define the rest of my life.” (Tweet This!)
- “Don’t negate the other areas of your life.” (Tweet This!)