by Ron Bartels
Tough Times Never Last But Tough People Do
You Can Feel Good – All Issues Get Dealt With
Ok so you hit a low point in the financial aspect of your life. Stop beating yourself up! You are NOT ALONE! Many famous people have filed Bankruptcy and went on to great accomplishments and huge financial success! Wanna feel better? Below, you will find a list of many Famous People who have filed for Bankruptcy – JUST LIKE YOU!!! Smile! There is Life After Debt! You can hold your head up high. You faced your debts and managed them instead of having them manage you.
Yes! There is Life After Debt! So many clients have expressed that they are reluctant to file for bankruptcy because they are afraid they will be considered failures and irresponsible by the public. They do not realize that many people, including famous celebrities, US Presidents, authors, musicians, politicians, great inventors and even industry leaders have faced similar financial difficulties and filed for bankruptcy to discharge their debts.
Grab a piece of paper and a pencil and make 2 columns label one “Pros” and one “Cons” start listing all of the pros and cons for why you think you should file for bankruptcy. On the pro side be sure to include: -Immediate relief -Permanent solution -An end in sight -Sleep at night On the con side: – Hmmm…I cant think of any!
Those of you who feel some sort of self inflicted shame or loss of self esteem for having to consider filing for Bankruptcy Protection, sit back and rest assured, you are not alone and actually in good company! To give you a bit of perspective, here is a list of 75 historical and otherwise famous individuals who filed for bankruptcy protection. The list is in no particular order and in no way is intended to embarrass or harass any of the parties listed. The purpose of publishing this list is to again reiterate that you are not alone and should look at this time in your life as a stepping stone to go on to achieve bigger and better things!
Individuals You Probably heard of who Who Filed for Bankruptcy Protection:
- Benedict Arnold – The man whose his name became a byword for treason in the United States.
- P.T. Barnum (Yes, as in the man who later went on to start the “Greatest Show on Earth!”)
- Kim Bassinger – Not long after penning the deal, Basinger was on the cover of numerous magazines. She appeared in hundreds of ads throughout the early 1970s, most notably appearing as the Breck shampoo girl. She achieved a top model status by age 20, earning a salary of $1,000 a day. In the meantime, she alternated between modeling work and attending acting classes at the prestigious Neighborhood Playhouse as well as performing in various Greenwich Village clubs.
- George Best – (22 May 1946 – 25 November 2005) was a Northern Irish professional football player, best known for his years with Manchester United. He was a winger whose game combined pace, acceleration, balance, two-footedness, goalscoring and the ability to beat defenders. You can see a short Video here.
- John Wayne Bobbitt – On the night of June 23, 1993, John Bobbitt arrived at the couple’s Manassas, Virginia apartment intoxicated after a night of partying and, according to testimony by Lorena Bobbit in a 1994 court hearing, raped his wife. (Note: He was tried and acquitted for this alleged spousal rape in 1994; he was prosecuted by the same district attorney who prosecuted Lorena for allegedly attacking John. Below, you can see a video on the Howard Stern Show.
- Lorraine BraccoToni Braxton – Bracco filed for bankruptcy in 1999, after legal fees and taxes from a five-year legal battle with ex-Harvey Keitel over custody of their daughter Stella.
- Lenny Bruce – On October 4, 1961 Bruce was arrested for obscenity at the Jazz Workshop in San Francisco; he had used the word cocksucker and riffed that “‘to’ is a preposition, ‘come’ is a verb” and that the sexual context of “come” is so common that it bears no weight, and that if someone hearing it becomes upset, they “probably can’t come.” Although the jury acquitted him, other law enforcement agencies began monitoring his appearances, resulting in frequent arrests under charges of obscenity. The increased scrutiny also led to an arrest in Philadelphia for drug possession the same year, and again in Los Angeles, California, two years later. You can see a very controversial video below:
- Buffalo Bill – Born in 1846, William F. Cody experienced the Old West to its fullest. He herded cattle, worked on a wagon train, mined for gold, rode in the Pony Express, and scouted for the Army. His skill as a buffalo hunter gained him the nickname “Buffalo Bill.” Buffalo Bill’s Wild West shows traveled the world leaving a lasting vision of the American West. See Sitting Bull’s bow and arrows, Buffalo Bill’s show outfits, Frederick Remington’s “Portrait of a Ranch Hand,” and many other objects from the Old West in the Buffalo Bill Memorial Museum. Begun in 1921 by Johnny Baker, Buffalo Bill’s foster son, the Museum illustrates the life, times, and legend of William F. Cody. It includes exhibits about Buffalo Bill’s life and the Wild West shows, Indian artifacts, Western art and firearms.
- Tia Carrere – Famous Actress
- Gary Coleman – (born February 8, 1968) is an American actor, best known for his role as Arnold Jackson in the American sitcom Diff’rent Strokes (1978–1986), as well as his character’s catchphrase “what’chu talkin’ ’bout, Willis?”
- Francis Ford Coppola – Francis Ford “Frank” Coppola (born April 7, 1939) is a five-time Academy Award-winning American film director, producer and screenwriter. Away from showbusiness, Coppola is also a vintner, magazine publisher and hotelier. He is a graduate of Hofstra University where he studied theatre. He earned an M.F.A. in film directing from the UCLA Film School. He is most renowned for directing the highly regarded Godfather films, The Conversation, and the Vietnam War epic Apocalypse Now.
- David Crosby – David Van Cortlandt Crosby (born August 14, 1941) is an American guitarist, singer, and songwriter. He was a founding member of three bands: The Byrds, Crosby, Stills & Nash (CSN) and Crosby, Stills, Nash & Young (CSNY). Crosby is a member of the Rock and Roll Hall of Fame for his work in the Byrds and CSN.
- WaltDisney That’s right! – Walt Disney’s name is synonymous with Mickey Mouse and the “happiest place on earth,” Disneyland. However, Disney’s career wasn’t always a moneymaking venture. In 1921, he began a company called the Laugh-O-Gram Corporation in Kansas City, Missouri but was forced to file for bankruptcy two years later because his financial backers pulled out. It must have been fate because Disney then headed to Hollywood and became one of the highest paid animators in history.
- William C. Durant – (December 8, 1861–March 18, 1947) was a leading pioneer of the United States automobile industry, the founder of General Motors and Chevrolet who created the system of multi-brand holding companies with different lines of cars.
- Mick Fleetwood – (born on June 24, 1947 in Redruth, Cornwall, UK) is a British-born musician best known for his role as the drummer with the blues/rock and roll band Fleetwood Mac. His name, combined with that of John McVie was the inspiration for the name of the originally Peter Green-led Fleetwood Mac. Fleetwood Mac Song: “You Weren’t In Love”
- Heidi Fleiss – In 1997, she was convicted in connection with her prostitution ring with charges including pandering and tax evasion. Her ring had numerous famous and wealthy clients. She was sentenced to 37 months in prison for tax evasion, (pandering charges were dropped) but served just 21. Her original three-year sentence prompted wide outrage at her harsh punishment, while her customers had not been punished.
- Zsa Zsa Gabor – born February 6, 1917) is a Hungarian-born American actress and socialite. You can see one of her short videos below.
You CAN go BANKRUPT without going BROKE!
Ok, so please bear in mind that Bankruptcy is not the way to go if you are seeking fame and want to run with the “in-crowd” but it is a tool available to give you a fresh start so you can move ahead and achieve your goals. It is not an “end” but rather a new beginning. Once you accept this as part of your philosophy, you will feel more empowered and in a better position to mentally put your financial problems behind you and prepare for the new and exciting challenges that lie ahead.
It is possible that our nation needs to file bankruptcy. It is in serious financial shape. The way most governments file bankruptcy is different than people and businesses do. People use Chapter 7 & Chapter 13. Businesses file Chapter 7 & Chapter 11. Farmers file Chapter 12. Governments use the tool of inflation to overcome debt problems. Inflation reduces the vale of dollars used to pay back creditors and bond holders. Bond holders are paid back with dollars that are worth a lot less than when they were loaned to the government. Governments also raise taxes to pay for over spending. Taxpayers always pay the debts of government so that is why there is so much resistance to increasing the national debt to bailout the bankers.
Now it is time to organize the nation. So let us consider the four items below:
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