Heather and her husband are facing $1.3 million in debt, with most of it stemming from a loan they took to buy assets for their summer camp business. Dave Ramsey advised them to sell the assets and do a short sale to the Small Business Administration, or sign a note for the difference and work through the debt. Starting a small business with a large loan like Heather did comes with financial risks, and taking on too much debt can lead to bankruptcy. Small business owners should consult with a bankruptcy attorney to explore options for managing overwhelming debt. In the latest episode of The Ramsey Show, financial expert Dave Ramsey shares insights on managing money and building wealth. Meanwhile, the Federal Reserve’s Small Business Survey reveals key findings on startup firms in the current economic landscape. Additionally, the City Bar Justice Center offers a helpful guide on small business bankruptcy for entrepreneurs facing financial difficulties. Check out these resources for valuable information to help navigate the challenges of starting and growing a business. Remember, these are just tools to guide you – always seek professional advice for your specific situation.

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4. “Bitcoin hits all-time high as institutional investors continue to show interest.” – Barchart

5. “US economy adds 850,000 jobs in June, exceeding expectations.” – CBS MarketWatch: Tennessee couple has $1.3M debt after a bad business deal. Dave Ramsey offers options to help couple recover