Bankruptcy Success Stories

By |2017-09-23T21:45:03+00:00June 26th, 2017|Bankruptcy|

Surviving bankruptcy may take time, but many people have recovered and gone on to have financially successful lives. It may take several years to complete the process, but patience and assistance from bankruptcy professionals like Brent George Law can position you for a second chance and future prosperity. While you navigate bankruptcy paperwork and develop a new financial strategy, you can get inspiration from the success stories of others who overcame significant financial difficulty, including famous entertainers, business leaders, and even presidents.

Presidents

Abraham Lincoln is known as honest Abe, but honesty did not keep him from going bankrupt. As a young man, Lincoln and a partner owned a general store, but they bought too many supplies on credit, and the venture failed, leaving Lincoln in debt for years. Thomas Jefferson was known for lavish spending habits, and he went bankrupt several times. Other presidents experienced bankruptcy or serious financial trouble at least once in their careers, including Ulysses S. Grant, William McKinley, James Monroe, Harry Truman, and Donald Trump.

Business Leaders

It is hard to imagine that the man responsible for Hershey’s chocolate ever had financial difficulty, but Milton Hershey’s initial attempts at a candy business failed, resulting in bankruptcy. Walt Disney’s early attempts at a film company also failed. Even Henry Ford went bankrupt with his first automobile company before founding his successful Ford Motor Company. Henry Heinz went bankrupt trying to sell a horseradish condiment before striking it rich with ketchup. Other business leaders who had significant financial difficulties before eventual success include Charles Goodyear, George Foreman, and William Durant.

Entertainers

Entertainer P.T. Barnum was the founder of the very successful Barnum Circus in the 1870s, but he accumulated over a half million dollars of debt prior to his success. A century later, actor Burt Reynolds accumulated over 10 million dollars of debt and reportedly auctioned his famous moustache to help pay creditors. Many other entertainers have experienced bankruptcy or severe financial difficulties and recovered. These include Kim Bassinger, Mick Fleetwood, Michael Jackson, MC Hammer,Jerry Lee Lewis. Mickey Rooney, and Willie Nelson, just to name a few.

Surviving bankruptcy or financial hardship is not easy, but it can help to know that many others have gone through the process successfully. In many respects, bankruptcy offers an opportunity for an economic reset and a fresh start. Brent George Law has assisted numerous clients in managing bankruptcy and other challenging financial situations. Free consultations are available whether you are a business leader, entertainer, president, or anyone else who needs professional advice from a bankruptcy attorney.