34. Bankruptcy

Bankruptcy Breakdown

Bankruptcy Breakdown

Bankruptcy.  Sure, we all know someone who has gone through a bankruptcy.

But do you really know what that means?  Can you answer basic questions about the bankruptcy process to friends, co-workers, and others?

This episode gives you the ins and outs so you can intelligently discuss it and help others understand the decision.

 Note:  This show is for informational purposes only.  If you are considering bankruptcy, seek legal counsel.

Chapter 7:

  • Called the Straight Bankruptcy
  • All your personal assets are collected & liquidated to pay off as much debt as possible.
  • Process takes 4 -6 months

Chapter 13:

  • Called the Reorganization Bankruptcy
  • A court-appointed debt repayment plan is established.
  • You can still keep your assets during the bankruptcy
  • Repayment time of 3-5 years
  • Once approved, creditors can no longer contact you


We also discuss:

  • How often you can file for Chapter 7 or Chapter 13 (they are not the same)
  • Roll of a trustee in the bankruptcy process
  • Pros & Cons of the decision
  • The amount of time the bankruptcy will be on your credit report
  • Who is responsible to get the bankruptcy lifted from your credit report once the time has passed.
  • How the decision impacts your life in other ways
  • My personal opinion on the bankruptcy decision.


Questions?  Let’s talk:  amy@thinkenriched.com

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The episode “Bankruptcy Breakdown,” first appeared on Think Enriched.

33. Debbi King

Debbi King

Debbing King

Debbi King, learned about personal finance the hard way, with over $200,000 of personal debt.  Now she teaches financial literacy to people across the US.

  • How she had the dreams in her mind, but had no idea how to get there.
  • When she hit the wall, she found herself with over $200,000 of debt, making $12,000 a year.
  • Why she was looking in the wrong places for quick-fix answers.
  • How she decided to start completely over. And why she would never recommend bankruptcy for someone else.
  • Even after bankruptcy, she was going back to same habits that got her into the massive amount of debt.
  • Personal finance is 10% math and 90% emotions.
  • When she started asking herself the tough questions about, “Why was she buying all this stuff?”
  • People want the magic pill- The way to fix a major financial problem without any discomfort.
  • How “Keeping Up with the Joneses” got her.
  • “I identified myself a lot with what I owned.”
  • She wasn’t a fixer on things, she just replaced them.
  • People are afraid of judgment and would prefer to live with the stress.  It’s not worth it.
  • When you get the habits and emotions in order, your life will completely change.
  • Financial freedom only comes when you set healthy boundaries of your emotions and habits.
  • Personal finance is personal.  What worked for me- may not work for you.
  • How you know you are ready for a finance coach.
  • Figure out where you internally to match the budget.
  • It’s good to take time and enjoy the journey of getting out of debt.
  • Don’t feel like a failure if you take time for yourself while paying off that debt.
  • You have to find a plan that works for you.

Resources mentioned:

Questions?  Let’s talk:  amy@thinkenriched.com

Ready to get your finances in order?

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The episode “Debbi King | Hit the wall.  And came out swinging,” first appeared on Think Enriched.

30. Megan Pangan | Know Thyself

Megan Pangan | Know Thyself

Megan Pangan | Know Thyself

Megan Pangan, from Get in the Lab, gives some incredible insight on the work that needs to be done on the inside to enrich your life and finances in ways unimagined before.

  • Why Megan starts every episode with Plato’s Quote: “Know Thyself.”
  • How she came to understand her power to make her life better.
  • How personal development helps her financially.
  • How she brought back the voice that she had quieted for so, so long.
  • When she started asking the big questions: “Why am I here?” and “What am I doing on here on this earth?” and what that changed.
  • How she found herself giving to the point of being taken advantage of- and how that showed up in  here finances.
  • What that final point that led her to turn it around.
  • How the stress & anxiety of her finances became a back pain issue.
  • She shares the story of her being Teacher’s Pet, but never got the gold.
  • How she realized that she never really landed her punch.
  • We discuss how being a woman may or may not make it easier to be passive about following your own ambitions.
  • How working with her fiancee and watching their business grow; yet still having a desire to build her own thing.
  • Why she believes you have to believe in yourself before you can ever make a sale.
  • We discuss the line between being confident and genuine or being cocky and insincere, and how to recognize that in the online space.
  • How she has determined a selling/ marketing strategy that rings true to her moral compass.
  • The importance of meaning what you say.  How she had to teach that to someone.
  • VEDA: Vlog Every day in August or April.  A challenge/process of answering questions online to make a video.
  • B2CVEDA, Megan’s branch of VEDA.
  • How she is an introvert and works on camera regularly.  Bonus:  Her secret to bring out the performer in her introverted self!
  • Create something with heart.

Resources mentioned today:

Questions?  Let’s talk:  amy@thinkenriched.com

Ready to get your finances in order?

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  • Leave ThinkEnriched an iTunes rating and review

The episode “Know Thyself,” first appeared on Think Enriched.