FREEDOM FROM DEBT

Having feelings of worthlessness or branding yourself a failure is common when faced with growing debt and imminent bankruptcy. But go easy on yourself. Bankruptcy can happen to anyone at any time, regardless of their stature, income, or profession. In fact, some prominent people, whom you never would expect to file bankruptcy, did so and then became a huge success.

The same can happen to you. Just remember that filing bankruptcy is not the end of the world. Rather, it gives you the financial freedom to begin a new journey in your life. Here are some famous people who filed personal or business bankruptcy:

AUTHORS: Oscar Wilde, Mark Twain and Thomas Paine.

SINGERS: Tom Petty, Jerry Lee Lewis, Ted Nugent, Merle Haggard, Tammy Wynette, Johnny Paycheck, Toni Braxton, Marvin Gaye, David Cross and George Jones.

ACTORS: Mickey Rooney, Don Johnson, Kim Basinger, Lynn Redgrave, Michael Jackson, Nicholas Cage, Randy Quaid, Lorenzo Lamas, Margot Kidder, and Burt Reynolds.

MOVIE AND TELEVISION ICONS: Dino DeLaurentis and Ed McMahon.

PROFESSIONAL ATHLETES:  Joe Louis, Leon Spinks, Johnny Unitas, Mike Tyson and Bjorn Borg.

BUSINESS GIANTS (who filed either personal or business bankruptcy): H.J. Heinz, founder of Heinz Ketchup; P.T. Barnum of Barnum and Bailey Circus; and Charles Goodyear of Goodyear Tire Company, Neiman Marcus, J.C. Penney, Sears, ToysRUs, and Circuit City.

As you can see, bankruptcy is a debt relief solution for people from all walks of life. Many other famous people ran into financial problems and required bankruptcy protection. Over the years, bankruptcy has become more commonplace.

As our state and country experience ebbs and flows in economic challenges and job losses, personal finances are among the first to suffer, leading to great hardships. Bankruptcy is an acceptable and responsible way for addressing adversities and getting back on track.