Filing For Bankruptcy? You’re Not Alone.
Millions of people, including many famous Americans and some of the largest U.S. corporations, have filed for bankruptcy. If Thomas Jefferson and General Motors took advantage of this opportunity to start fresh, why shouldn’t you?
Who Files For Bankruptcy? You’d Be Surprised.
These tough economic times have driven many people into debt — a job layoff, a business slowdown, medical bills, credit cards out of control from trying to make ends meet.
- More than 1 million bankruptcies were filed in the United States in 2009.
- One in 60 households will file for Chapter 7 or Chapter 13 reorganization this year.
- Middle-class, college-educated people now make up the majority of filers.
Famous People Who Filed Bankruptcy
Before he revolutionized the automobile industry, Henry Ford‘s first car-making venture ended in bankruptcy. A veritable “Who’s Who” of Americans and U.S. companies have filed bankruptcy, some before they found fame and fortune, some after they tasted success:
- Walt Disney, founder of the movie and theme park empire
- Charles Schwab
- H.A. Heinz
- Thomas Jefferson (several times)
- Civil War hero and President Ulysses S. Grant
- Boxing champ Mike Tyson
- Football legend Johnny Unitas
- Olympic skater Dorothy Hamill
- Talk show host Larry King
- Las Vegas headliner Wayne Newton
- Author Mark Twain (who repaid every creditor)
- Circus showman P.T. Barnum
- Actors Burt Reynolds, Mickey Rooney, Debbie Reynolds, Kim Basinger
- Music stars Willie Nelson, Lorrie Morgan, Andy Gibb, Tom Petty, Toni Braxton, MC Hammer, Cyndi Lauper, and Johnny Paycheck (who filed bankruptcy a year before his hit song “Take This Job and Shove It”).
- US Airways, Delta Air Lines, Braniff Airlines and Northwest Airlines
- GM and Chrysler
- Household names Purina, Kmart, Polaroid and Texaco
- The Winn-Dixie grocery chain
This list is just a smattering of well-known Americans throughout history who fell on hard times or fell victims to fraud or bad investments but got back on their feet through bankruptcy.
Contact A Business And Consumer Bankruptcy Lawyer For A Free Consultation
Contact an experienced attorney at Simon Fitzgerald LLC, at 318-550-4873 (Shreveport), 318-598-4100 (Alexandria) or 337-205-0492 (Lafayette) to discuss whether bankruptcy is the solution to your debt problems.