There is a lot to consider before filing for bankruptcy, but you should never feel ashamed. The history of bankruptcy in the United States dates back to the founding of our nation. The English's practice of debtor's prison was so abhorred by our founding fathers that they expressly outlawed it and instituted forgiving bankruptcy laws early in our nation's history.
Since then, some of our nation's most revered companies and people have turned to the bankruptcy system for help with their situations. Thomas Jefferson was one of our founding fathers and many consider him our greatest president. He filed for bankruptcy several times to eliminate the accumulation of his huge debt.
Knowing that even a man with the foresight and intelligence of President Jefferson could repeatedly get himself into financial troubles may help to put into perspective the importance of our bankruptcy system. It is a financial tool that is in place for a good reason.