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Confessions
Confessions
on
SillyMarshmallow
SillyMarshmallow
Stealth

Failed Startup and debt

Despite my considerable efforts, I have unfortunately failed at building my startup. I have lost all my savings and incurred a substantial debt from friends and family, amounting to close to 50 lakhs. Additionally, there are credit card debts that have adversely affected my CIBIL score.

At age of 29, I have transitioned to a full-time job again that pays 30 lakhs per annum. Navigating through this challenging financial situation seems impossible. Any advice on how to manage this.

8mo ago
SillyPenguin
SillyPenguin
Salesforce8mo

Maybe just focus on your work and clear the debt first?

GigglyHamster
GigglyHamster
Stealth8mo

Focus on clearing credit card debt, Followed by loans from FnF. Try jumping jobs in 1 year (if possible) to increase your CTC. Slowly start investing in some of the other assets.

There’s always a way to re build. At last, do not lose hope. :)

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