Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Could a Family Bankruptcy Have Been the Key to Shakira’s Success?

In a recent interview with CNN, Shakira told the tale of her own modest upbringing. When she was 8 years old in Barranquilla, Colombia, her parents fell on hard times and took responsibility for their financial situation by filing for bankruptcy. She had a hard time embracing the bankruptcy as a child but had a change of heart when her parents showed her what their lives could be like had they not filed bankruptcy.

What 8 year old Shakira didn’t see is that her parents knew when to file bankruptcy. They took responsibility for her and themselves and freed themselves from the consequences of debt. Getting protection from foreclosure, credit card debt help, and relieving themselves from the stress of creditors was the most important thing to do—and now, as the 30 something pop sensation, Shakira sees the power that bankruptcy can provide.

Now, as a Missouri and Illinois bankruptcy attorney at a St. Louis law firm, I can tell you that the rules for bankruptcy are much different now than they were years ago (and on another continent!) but the feeling of being in overwhelming debt remains the same. Luckily, the feeling of getting relief from overwhelming debt has also remained the same.

Shakira has since founded the Barefoot Foundation, a charity to help poor children from Colombia get an education. And she says her success is inspired by her family bankruptcy so many years ago. She isn’t alone in her feeling, either. Many of the famous people who have declared bankruptcy agree that bankruptcy was only a beginning for their future success. You can get all the information you want to know about bankruptcy by requesting my free ultimate guide to bankruptcy, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know.”