When I meet my clients for the first time, one of the things they talk about is how embarrassed they are about having to file bankruptcy. They feel like failures. This is easy to understand. If you are like my clients, you were taught to be responsible and honor your debts. That is what my clients want. Unfortunately, sometimes circumstances arise that make it difficult to keep up with unexpected expenses. Take, for example, my client who ran up tens of thousands of dollars in medical bills to have a tumor removed, only to have it come back. Bankruptcy was the only way she could eliminate her debts, so that she could have the money she needed to get a fresh start and keep her health.
I let them know that they aren’t the first to have to file bankruptcy, and they won’t be the last. Here are some examples of famous people – whom no one would consider failures – who filed bankruptcy:
- Abraham Lincoln
- Henry Ford
- Walt Disney
- Milton Hershey