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Famous People Who Have Declared Bankruptcy - And Bounced Back | St. Louis Bankruptcy Attorney

When considering bankruptcy, many can't help but think that it will color the rest of their lives. However, although some people will not be successful even after a bankruptcy petition, many more people will go on to have normal, productive, and financially secure lives. In fact, as a CNN article recently revealed, a number of very successful and famous people have overcome money problems and bankruptcy and flourished.

Here are just a few examples of famous people who declared bankruptcy and succeeded in life:

· Henry Ford, the future leader in the auto industry, had an early run-in with bankruptcy soon after he started his first car business. The second time he started a business, it was a success. The founder of GM also suffered an early bankruptcy before his later success.

· Burt Reynolds, one of the most successful stars of the 1970s, hit financial trouble after unwise spending and a pricey divorce. But after declaring bankruptcy in 1996, he straightened out his life and even got to keep his beloved ranch in Florida throughout the process.

· Abe Lincoln, one of our most celebrated presidents, went bankrupt after buying a shop in his youth. In bankruptcy court, he lost many of his possessions, including his horse, but bounced back to become one of history's most wise and successful politicians.

· Walt Disney, the famed children's entertainer, went bankrupt in 1923 after his first film studio failed. After a few years of recuperation, though, Disney unveiled a cartoon character named Mickey Mouse in 1928.

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