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Many Famous People Filed for Bankruptcy

Posted by Thomas Denny | Dec 17, 2020 | 0 Comments

It is said that if at first you don't succeed, try again. Without the privilege to file for bankruptcy, many famous and accomplished individuals and businesses would have been deprived of the opportunity to try again and succeed.

Abraham Lincoln declared bankruptcy after a failed attempt to open a general store in 1833. He went on to become one of our greatest presidents.

P.T. Barnum filed for bankruptcy protection in 1856 after defaulting on a bad loan he guaranteed for a friend's business. He later regrouped to form the world renowned Barnum and Bailey's Circus (which also filed for bankruptcy).  

William McKinley, then Governor of Ohio, also due to a defaulted business loan he co-signed for a friend, filed for bankruptcy in 1883. Three years later he was elected our 25th president.

Mark Twain turned to bankruptcy relief in 1894 after a failed attempt to publish his own work (because he disliked his publisher), and a bad investment in an automatic typesetting machine. It did not stop him from achieving subsequent success.

Henry Ford filed for bankruptcy in 1896 after failing at his first venture, the Detroit Automobile Company. He later filed again after failing at his second attempt, the Henry Ford Company. Finally he succeeded the third time in creating the Ford Motor Company.

Walt Disney filed for bankruptcy in 1923 when his first animation company failed. With help from his family, he later succeeded in forming Walt Disney Studios where, in 1928, Mickey Mouse was born. The rest is history. 

Dozens of accomplished individuals filed for bankruptcy. Mickey Rooney, Willie Nelson, Francis Ford Coppola, Oscar Wilde, Burt Reynolds, and Nicholas Cage, to name a few.

At the Law Office of Thomas Denny, we believe everyone deserves a second chance to succeed. If financial burden is holding you back from living your life to its fullest call Buffalo bankruptcy lawyer Thomas Denny. He will personally assess your situation and guide you in the right direction. His fees are affordable and he takes pride in knowing he has helped each of his many satisfied clients achieve a fresh start.

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Thomas Denny

About me,  Thomas Denny

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