After my newborn son was delivered in Jan 2014, I knew I needed to make a decision. I needed a closure. I needed to get my life back up again as I am a father now.
I had 2 choices. I wouldn't call them solutions. Just 2 options to seek a closure.
The first one was to declare bankrupt like my client. But that would mean losing my Remisier license. My job. My passion. Something which I could actually see myself doing for the rest of my life.
This option would be the easier option I guessed. But then, what was I supposed to do after losing this job.
This was my dream job. I had to just let it go?
The second choice was to "FIGHT". To slog. To build my broking business and trade. To pay back the debt slowly.
After wiping out the funds I had retained by the company since I started, the amount of debt would be about half a million dollars.
I wanted to sell my HDB flat to pay off the losses but I realized that it's not possible as it was still within the 5 year MOP period.
I had my "6-Step" Ultimate Stock Trading Blueprint. It had worked before. I was confident it would work again.
But with the interest accruing daily, it would take years to pay down the debt fully.
The other option was for my parents to mortgage their house and lend me this sum of money to pay off the entire debt and I work to repay them..
It seems like a possible solution but I was scared. That was my parent's house at stake. What if I am not able to pay them back. What if they lose their house?