Carolina Cruz, a popular TV presenter in Colombia, recently opened up about her financial struggles in a revealing episode of her podcast ‘My World, My Traces, My Truth’. She disclosed that she faced a debt crisis that nearly pushed her to bankruptcy and madness.
The host of ‘Day by Day’ shared that she entrusted her brother with the finances of a brand they were working on, which included various products such as jewelry, shoes, and beauty lines. However, her brother, who lacked business experience, made critical mistakes that led to financial turmoil.
Cruz explained how they expanded their business by opening new stores, incurring high rents, and venturing into franchising without proper knowledge. Additionally, she admitted to withdrawing money from her companies regularly, creating a financial dependency that spiraled out of control.
Initially, her brother informed her that the debt amounted to 500 million pesos, which they managed to pay off through great effort. However, Cruz later discovered that the actual debt was a staggering 2.8 billion pesos, causing a rift in their relationship.
Facing the harsh reality of her financial situation, Cruz sold an apartment and took out loans to settle the debt after two years of intense work and sacrifice. She emphasized that despite being a public figure, she is not wealthy and had to work exceptionally hard to clear her debts.
In the podcast episode titled ‘How did I find out that I owed 2.8 billion pesos?’, Cruz candidly shared her journey of overcoming financial challenges and regaining control over her finances. Despite the hardships, she expressed gratitude for the lessons learned and the resilience gained through the experience.
This revelation sheds light on the personal struggles of a well-known television personality, highlighting the importance of financial responsibility and the consequences of poor decision-making in business ventures.