My main client's payment system went down for a week and I had to scramble

It happened last month when their accounting software got hit with a ransomware attack. I was waiting on a $2,800 invoice from them and suddenly had zero cash coming in. I had to take on three small, quick jobs from Upwork just to cover my rent in Phoenix. How do you guys build a backup plan for when a big client just... stops paying?

4 comments

4 Comments

cole_murphy21d ago

Did you try setting up a separate emergency fund specifically for gaps like that?

anthonynelson7d ago

Wait, $15k in Bitcoin? That's insane. How do you even recover from that?

evan_davis22d ago

Oh man, that ransomware story is brutal, I've been there with a slow-paying client too.

lily_cooper21d ago

I actually read a piece in the local paper about a small accounting firm that got hit with ransomware last month. They had to pay $15,000 in Bitcoin just to get their client files back. The worst part is they lost a week of work and nearly had to shut down.