Secrets to Improve Your Credit Score: Bankrupt Presidents

Sunday, August 15, 2010

Bankrupt Presidents

Even presidents have had their fair share of financial difficulties.

Ulysses S. Grant - Ulysses S. Grant, the 18th President of the United States, became a partner in a financial firm which went bankrupt. Dying from throat cancer, Grant wrote a memoir to pay off his debts.

Abraham Lincoln - The 16th President of the United States, Abraham Lincoln, declared bankruptcy not once but twice. He spent 17 years of his paying off the money that he borrowed from friends to start his business. It took Lincoln 30 years to achieve his goal of becoming President of the United States.

William McKinley - William McKinley, the 25th President of the United States, found himself $130,000 in debt after he co-signed on a loan for a friend and the friend went bankrupt.

Thomas Jefferson - Thomas Jefferson the 3rd President of the United States, filed several bankruptcies in his lifetime; and, his debt was huge in comparison to most individuals' bankruptcies today.

Harry S. Truman - Harry S Truman, 35th President of the United States had a failed business file bankruptcy. A month before Truman was married, banking on their success at Fort Sill and overseas, Truman and Jacobson opened a haberdashery of the same name at 104 West 12th Street in downtown Kansas City. After a few successful years, the store went bankrupt during the recession of 1921, which greatly affected the farm economy

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