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Matt, burdened by $100,000 in credit card debt from a failing business, seeks advice. He explains his business's decline and questions whether bankruptcy is the right move. Dave advises Matt to prioritize increasing his income, suggesting closing the business or finding additional work to tackle the debt.
- Matt has $100,000 in credit card debt and a $20,000 SBA loan.
- His business revenue dropped from $20,000-$30,000 a month to $5,000-$6,000.
- Dave advises Matt to focus on increasing income rather than declaring bankruptcy.
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