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Celebrity Bankruptcy Filings

Posted on May 31, 2012 in Bankruptcy

People who file bankruptcy are experiencing hard times. Often they worry that they will not be able to pick themselves up and that their lives will never be the same. This is simply not the case for most people. Quite often, people who file for bankruptcy go on to have very successful financial lives. This is just a short list:


• Walt Disney—Before having an entertainment empire named after him, Mr. Disney was a simple entrepreneur trying to earn a living. He owned “Laugh-O-Gram Studios” which was an animation company in Kansas City. Unfortunately for Mr. Disney, Laugh-O-Gram did not work out and went into bankruptcy. Five years later, Mr. Disney introduced the world to Mickey Mouse and launched one of the most successful businesses ever.

• Donald Trump—Before he was firing people on TV, Mr. Trump found himself in financial difficulty…4 times! In 1991, 1992, 2004 and 2009 Mr. Trump sought bankruptcy protection for his business in order to improve his chances of success moving forward. As anyone can see, Mr. Trump has used the bankruptcy system to reorganize his business finances and has been very successful, even considering a presidential run.

• Abraham Lincoln—Speaking of presidents and bankruptcy, it is not so commonly known that our 16th President once went through bankruptcy. Lincoln was an enterprising young business owner when things went bad for him and his partner. Because the small business could not be salvaged Lincoln was forced through bankruptcy. As you already know, he went on to become one of the country’s greatest presidents!

These three examples of people who went through bankruptcy show that bankruptcy is not an end point, but is instead a new beginning. The bankruptcy system provides hope to those who would not otherwise have a way out.  This includes former superstar athletes, Real Housewives, and politicians.  By using the bankruptcy system effectively, you too can get out of debt and move forward with your life.

This post was authored by Lakelaw asssociate Nicholas Strom

Edited June 22, 2012:

Please find the following websites with links to other bankruptcy topics beginning with C:

Cancellation of Debt Income By Vermont-New Hampshire Bankruptcy Lawyer Michelle Kainen

Cars By San Francisco Bankruptcy Attorney Jeena Cho

Chapter 7 By Marin County Bankruptcy Attorney Catherine Eranthe

Chapter Choice By Ormond Beach, Florida Bankruptcy Attorney Lewis Roberts

Chapter of Relief By Southgate, MI Bankruptcy Attorney Christopher McAvoy

Cheap Bankruptcy By Houston Bankruptcy Attorneys Busby & Associates

Check Your Bills, Bank Account Statements and Paystubs By Columbus, Ohio Bankruptcy Attorney Athena Inembolidis

Claims By St. Louis, Missouri Bankruptcy Attorney Nancy Martin

Competence and Compassion By Philadelphia Suburban Bankruptcy Lawyer Chris Carr

Congress By Los Angeles Bankruptcy Law Monitor, Christine A. Wilton

Conversion By Omaha and Lincoln, Nebraska Bankruptcy Attorney Ryan D. Caldwell

Cosigner By Cleveland Area Bankruptcy lawyer Bill Balena

Costs By Miami bankruptcy Attorney Dorota Trzeciecka

Counseling By Northern California Bankruptcy Lawyer Cathy Moran

Cramdown By Colorado Springs Bankruptcy Attorney Bob Doig

Cramdown By Oahu Bankruptcy Attorney Stuart Ing

Cramdown By Metro Richmond Consumer and Bankruptcy Attorney Mitchell Goldstein

Credit Card Creep By Pittsburgh Bankruptcy Attorney Shawn Wright

Credit Card Tips By Wisconsin Bankruptcy Lawyer Bret Nason

Credit counseling By Chicago Bankruptcy Attorney Kyle A. Lindsey

Credit counseling By Los Angeles Bankruptcy Blog, Mark J. Markus

Credit counseling By Daniel J. Winter, Chicago Bankruptcy Attorney

Credit Counseling By Birmingham Bankruptcy Attorney Elizabeth Johnson

Creditor By New York Bankruptcy Lawyer, Jay S. Fleischman

Creditor By St. Clair Shores MI Bankruptcy Attorney

Creditors By Livonia, Michigan Bankruptcy Attorney Peter Behrmann

Creditors Meeting By Philadelphia  Bankruptcy Lawyer Raymond Kempinski


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