When you file bankruptcy, you feel a huge weight lifted off your shoulders. You do not need to worry so much about debt constantly weighing on your mind. But just because your bankruptcy has wiped the slate clean does not guarantee you are free of financial distress in the future.
The press has reported extensively on President Trump’s bankruptcy filings. You may not know, though, that Mr. Trump is not the only American president to have filed for bankruptcy protection. Thomas Jefferson declared bankruptcy once, and Abraham Lincoln did it twice. If bankruptcy is good enough for the country’s leaders, it is probably good enough for you.