Bankruptcy can happen to anyone. No matter how successful a person or company may be, circumstances in life can conspire to utterly reverse that success. Bankruptcy is a straightforward, honest way to deal with overwhelming debt. Every year, millions of Americans file for bankruptcy protection and a fresh start. Many celebrities, US Presidents, authors, musicians, politicians, great inventors and even industry leaders have faced financial difficulties and filed for bankruptcy to discharge their debts. History reveals that most of them had their greatest success in life after their financial problems and bankruptcies were behind them.
The following is a brief rundown of several high-profile and influential bankruptcies in the U.S.