Getting Through
August 13, 2009 - Posted in business, money, personal
In 1997, the peso had plunged from P26 to a dollar from a high of P45. The crisis was pushing my company into bankruptcy.
I established D&D Builders, our construction company, in 1985. By 1990, we were enjoying moderate success, but this did not hinder us from pushing through with our plans to migrate to Canada. This would mean that my wife and children would have to go ahead of me, as I had to stay home to attend to some unfinished contracts before totally closing the company down, but over all, it would be for the best.
However, projects which were hard to turn down came one after another. My scheduled trip to Canada to join them was postponed several times. It was now 1994 and the Canadian several times. It was now 1994 and the Canadian Embassy had to inform me that they could no longer award me immigrant status. This prompted my wife and I to decide to come home for good. Business had picked up anyway.
Our biggest project came in late 1995, a 16-storey building whose contract was within the vicinity of P100 M. By mid 1997, though, we still had not finished building, and the peso was rapidly sliding. Consequently, I found myself having to sell practically everything that we owned- a piece of property in Better Living Subdivision, all our cars, and other. In addition to that, I mortgaged another lot in Quezon City and our house.
The debts I incurred totaled P7 million. A few debtors filed charges against me. I was able to keep up payments for the lot in Quezon City but when I stopped paying, the bank had to foreclose the property.
The stress was getting to me. As I did not know how to deal with it, I sought comfort from a married woman with whom I had an affair. Instead of finding relief, it caused even more damage as my relationship with my wife and children began to go sour. To top it off, I won two other contracts but we were not able to complete the projects because the payments we received went into paying my debts.
The only thing that kept us going was prayer and the knowledge that construction was what I did best and that I ought to continue focus my energies on this. My wife in spite of her hurt and anger, stuck by me and prayed with me and my remaining staff.
Then in January 2001, the miracle came. We were awarded one big project. Soon I was able to pay the six months back salaries of my two remaining employees. I was also able to pay the bank for our house and some small debts. As I acknowledge this as God’s answer to our prayers, we were given more chances to bounce back through three additional substantial projects.
Today, our debts aren’t fully paid yet, and I still have to settle the charges filed against me. But in my heart hope lives. Because I believe that God will get us through all of these.
