Bouncing back after a bankruptcy may not be easy but it can be done. The most prosperous of the rebounders analyze their past shortcomings, chart a better route, then march full force into the future.
In 2013, more than 750,000 households legally escaped their financial obligations by filing Chapter 7 bankruptcy. The sense of relief that comes with unloading debt obligations is often tempered by feelings of failure. It doesn’t have to be the end of the line, though. For some, discharging debt was not the final destination, but a launching pad to a greater and more secure economic future.
Like Henry Ford and Donald Trump, the typical profile of those who bounce high after a trip to bankruptcy court is a resilient risk-taker who learns from the past. Here are just a few people who transitioned from the depths of economic despair to a soaring net worth. Everyone can learn a thing or two from their pre- and post-Chapter 7 experiences, they say — as do the experts who help the insolvent rise and shine.
Dispatches From The Front 