There is no doubt that filing for bankruptcy in Utah carries a negative stigma. No one likes to admit that they are behind and owe large amounts of money to creditors. They don’t want people to think that they are irresponsible with their money.
For that reason, a lot of people who come to see a Salt Lake City Bankruptcy Attorney are ashamed, even when their debts have been caused by legitimate and unforeseen catastrophes in their personal lives. You should not be ashamed to file bankruptcy in Salt Lake City, especially if your financial troubles have been caused by things that are out of your control. Many of my clients are very responsible people who have fallen victim to things outside their control such as: illness, giant medical bills, job cuts, layoffs, and firings due to the current recession, losses in real estate values due to the current economic crisis, loss of work resulting from temporary or permanent mental or physical disability, car accidents, work accidents, loss of loved ones, divorce – – – I could go on and on.
Bankruptcy has such a bad stigma that no one talks about filing for bankruptcy, and people that find themselves in difficult financial situations have no idea how many of the friends and coworkers they respect have filed for bankruptcy in the past. To illustrate this point, I’m including a list of people that you have probably heard of, people who are successful and respected celebrities that have filed for bankruptcy:
- Henry Ford
- Ed McMahon
- Kim Basinger
- Walt Disney
- Tom Petty
- Cyndi Lauper
- Willie Nelson
But my top two all-time favorites are are:
- Donald Trump – who has filed for bankruptcy FOUR TIMES!!!
- Abe Lincoln – no kidding – America’s favorite historical figure filed for bankruptcy in 1833!!!
If you find yourself in the position to consider filing bankruptcy, don’t delay out of shame – you may not realize how many people you know that have been in the same situation!