Ramsey Experts Tell Woman-Owned Consulting Firm Founder, 'This Business Needs To Pause,' Amid $230,000 Debt Crisis, Shrinking Contracts

A woman-owned small business founder revealed on The Ramsey Show that she is drowning in debt and struggling to keep her consultancy afloat amid dwindling contracts and mounting expenses.

Funding Cuts And Policy Shifts Devastate Small Business Revenue

On Sunday, caller Ashley, who runs a consulting firm repurposing furniture and assets for charities through universities, corporations, and school districts.

She explained that her business was thriving until January, when funding cuts and policy shifts hit nearly every aspect of her operations.

"I was bringing in over… I grossed 2.5 million, and this year I’ll be lucky to" she began before co-host Ken Coleman interrupted to clarify her immediate financial situation.

Debt Crisis Escalates Amid Employee Layoffs

Ashley detailed the financial strain caused by laying off employees, paying out benefits and covering bills while her husband and business partner were hospitalized. 

"I’ve got one vendor right now that I’m about 140 days overdue that I owe him $60,000," she said. 

she added, “I have a couple of vehicles… about $90,000. I’ve got credit card debt for about $80,000."  

George Kamel and Coleman urged Ashley to prioritize survival over her business.

Coleman said, "The fix here is you got to bring in some income now," adding, "Sell everything, get a job."

Kamel urged Ashley, “This business needs to pause right now if you can’t get contracts and both of you need to get full-time jobs doing other things or four side jobs each in order to cover the bills during this storm.”

See Also: Jeff Bezos Was Always Confident That The iPad Was No ‘Kindle Killer’ And He’s Still Turning The Page On Apple: ‘You Don’t Understand My Audience.’

Ramsey Helps Families Overcome Debt And Financial Crisis

Rachel from Eugene, Oregon, called The Ramsey Show after her husband's construction business collapsed, leaving the family with over $90,000 in debt and only $25 in their account.

With three children and another on the way, Dave Ramsey urged immediate local work and prioritizing essentials like food, utilities, and mortgage to keep the family afloat.

In a separate call, 27-year-old Toby, $14,000 in debt and recently homeless, asked about bankruptcy.

Ramsey emphasized that money problems were symptoms of larger life challenges, advising Toby to find steady work, maintain sobriety, and seek mentorship to regain stability.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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