When Paul started his career over 30 years ago, he never imagined what would happen. He was a popular florist in New York making floral arrangements for weddings, corporate events and even TV and movie sets. As his business exploded, Paul expanded by adding a new shop and a dedicated staff.

But then, in 2003, things took a turn for the worse. Doctors diagnosed Paul with non-Hodgkin’s lymphoma, giving him a 50% chance of survival. He walked away from his business in order to focus on treatment and his financial situation began to fall apart. He tried to keep the business afloat and his employees paid by borrowing from his savings and charging inventory to his credit card.

The cancer has been in remission for two years and Paul is now aiming to honor his debts and re-establish his business for his family and his employees.

Make a choice - your bussiness or your home
Our mentors know this will be a tough choice for Paul but the Money Mentors tell him getting a new house is easier than starting a new business. Getting rid of his home would help Paul get out of debt. One possibility is for Paul to sell his home and rent it back from the owner.

Get BOE insurance
Paul is a cancer survivor and is in remission but if he gets sick again, having insurance would make sure the bills are paid and the business can continue.

Setup sperate business and personal accounts
Paul’s credit scores are low, making financing for future projects very hard.