Famous bankrupts, past & present

mostlycheerful

John Dickens, father of Charles Dickens the famous author

John Dickens found it difficult to provide for his growing family on his meagre income. Soon his debts had become so severe that all the household goods were sold in an attempt to pay his bills. Described by his son Charles as "a jovial opportunist with no money sense", unable to satisfy his creditors, on 20 February 1824 John Dickens was imprisoned in the Marshalsea Debtors' Prison for debt under the Insolvent Debtor's Act of 1813, because he owed a baker, James Kerr, £40 and 10 shillings. His wife Elizabeth Barrow, and her three youngest children, joined her husband in the Marshalsea in April 1824.

John Dickens was released after three months, on 28 May 1824, on the death of his paternal grandmother, Elizabeth Dickens, who had left him the sum of £450 in her will. On the expectation of this legacy, Dickens petitioned for, and was granted, release from prison. Under the Insolvent Debtors Act, Dickens arranged for payment of his creditors, and he and his family left Marshalsea for the home of Mrs. Roylance, with whom his 12 year old son Charles was lodging.

Some years later John Dickens was again briefly imprisoned for debt, and was released only when his son Charles borrowed money from his friends based on the security of his salary. However, on his release from prison John Dickens immediately wrote begging letters to those same friends of his son also asking for money. He wrote to Thomas Beard claiming that his son Alfred "is walking to and from Hampstead daily in dancing Pumps".

When Charles Dickens gained fame as a writer John Dickens frequently embarrassed his son by seeking loans from Charles' friends and publishers behind his back, and by selling pages from his son's early manuscripts. Concerned about his father's financial problems, Charles Dickens rented a cottage for his parents far from London, and, as he thought, far from temptation, at Alphington in Devon. However, John Dickens merely continued to write to Charles' friends and publishers asking for money.

http://en.wikipedia.org/wiki/John_Dickens

mostlycheerful

Toni Braxton [an American singer] files for bankruptcy AGAIN claiming debts of up to $50million
http://www.dailymail.co.uk/tvshowbiz/article-1318561/Toni-Braxton-files-bankruptcy-AGAIN-claiming-debts-50million.html#ixzz11i9Gbw00

blondee55

Worth another bump me thinks.

Stardust

Apparently Lauren Booth - writer, broadcaster, human rights activist and sister to Cherie Blair petitioned for bankruptcy on the run up to Christmas.

now

Stardust wrote: »

Apparently Lauren Booth - writer, broadcaster, human rights activist and sister to Cherie Blair petitioned for bankruptcy on the run up to Christmas.

You would think her sister would help her out

JCS1

now wrote: »

You would think her sister would help her out

According to the news article below, Cherie is listed as a creditor for £15k.

http://www.dailymail.co.uk/debate/article-1342545/Lauren-Booth-bankrupt-owes-sister-Cherie-Blair-15-000.html

debtinfo

funny to see that she cant be a director for 15 years:rotfl:and that she may have difficulty with her bank account:rotfl:. Do the reporters ever do any proper research, its not as if the correct info is hidden away anywhere

fiveyearplan

debtinfo wrote: »

funny to see that she cant be a director for 15 years:rotfl:and that she may have difficulty with her bank account:rotfl:. Do the reporters ever do any proper research, its not as if the correct info is hidden away anywhere

surprised they didn't mention debtors' prison. :eek:

dojoman

debtinfo wrote: »

funny to see that she cant be a director for 15 years:rotfl:and that she may have difficulty with her bank account:rotfl:. Do the reporters ever do any proper research, its not as if the correct info is hidden away anywhere

Incredible that these myths are still perpetuated :eek:

now

dojoman wrote: »

Incredible that these myths are still perpetuated :eek:

They just have not got a clue.................. Not sure if he has been mentioned as I have not read the full thread (lazy little old me) but Sir Alan Suger was BR at one point I think

The safety net of bankruptcy allows people the chance to make mistakes and to learn. We are allowed to start again and prosper. Sir Alan Sugar made his millions only after being made bankrupt. On the apprentice he said ”there is no shame in bankruptcy”. I agree with Sir Alan. There is a culture in this country that wants you thinking that bankruptcy is somehow bad, shameful or wants you to believe in some imaginary stigma.