Think that Bankruptcy makes for a Failure? You'll Change your Mind after reading this! Look at how some of the most successful people in the world once went Bankrupt!

Once in a while, I hear people who are considering bankruptcy ask if this means that they are failures. In my opinion, the answer is absolutely NOT. People who are filing for bankruptcy are taking action to improve an unfortunate sitatuion and that can only be a good thing! Winners take action! Don't believe me? Let’s have some fun and look at a list of famous people who filed for bankruptcy!

  • Thomas Jefferson. He tended to have lavish habits when it came to food and wine. He was strapped for cash more than once and actually filed for bankruptcy a few times.
  • Henry Ford. This was before he was able to sell enough cars!
  • Mark Twain
  • Queen Latifah
  • Kim Basinger (who backed out of a movie deal and got sued for a lot of money)
  • Gloria Vanderbilt (This surprised me the most)
  • Walt Disney. Pre-Mickey Mouse!
  • Larry King
  • LaToya Jackson
  • Donald Trump (Seriously!? Who would’ve thought?!)
  • Ulysses S. Grant (yes, the President of the United States)
  • Milton Hershey (as in, Hershey’s Chocolate)
  • Burt Reynolds
  • John Wayne
  • Jerry Lee Lewis
  • Gary Coleman
  • Willie Nelson
  • Mickey Rooney
  • Mike Tyson
  • Anna Nicole Smith
  • Cyndi Lauper
  • Charles Goodyear (from the tire company)
  • Oscar Wilde
  • Sylvia Brown the psychic (why didn’t she see it coming?)
  • Marvin Gaye
  • Sherman Helmsley (aka George Jefferson)
  • Andy Gibb

Would you call these people failures? I wouldn’t!

I wonder what would have happened if they had allowed things to stay as they were and not filed for bankruptcy. Who knows, but it makes for interesting thought.  Sometimes you need that fresh start before you can work towards making things not just better but great! I hope that you can understand, by way of the above examples, that filing for bankruptcy does not make one a failure! 

If you are ready to face the future and and are wondering if a bankrtupcy will help you get past where you are at so that you can move forward, its time to talk to a bankruptcy lawyer. At the very least, you should read my free book that will give you more information about consumer bankruptcy and then decide. We are located in Schaumburg and Itasca and serve Chicago and surrounding communities. 

Carol O'Connor Cadiz
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Attorney & Owner at O'Connor Cadiz Law: Injury & Accidents, Disability Insurance.