Founder of Barnum & Bailey Circus Overcame Financial Struggles through Bankruptcy Filing
Recognized as one half of the most famous and recognizable Circus in the United States, if not the world, P.T. Barnum actually began his career in the publishing industry in Connecticut. In 1834, Barnum moved to New York City and began his career in promotions by selling tickets to see Joice Heth, a 61-year old woman who he claimed had been a nurse to George Washington.
After earning money from his promotional endeavors, Barnum made notable loans to the Jerome Clock Co. based in New Haven, CT. Unfortunately, the company went bankrupt, causing significant financial troubles for Barnum himself who had guaranteed more than $450,000. In 1856, Barnum filed for bankruptcy protection in order to help escape his overwhelming debt.
Barnum was able to successfully work through his bankruptcy filing, repay all of his creditors, and embarked on a world tour presenting a lecture he called The Art of Money Getting, which was hugely successful, all prior to the establishment of the Barnum & Bailey Circus for which he achieved global fame.
If you are struggling under the weight of unmanageable debt, you are not alone and your situation is far from hopeless. Filing for bankruptcy can provide you and your family with a fresh financial start and a chance to move into the future confidently and free from debt. Contact Central Texas bankruptcy lawyer Erin B. Shank, P.C., today at (254) 296-1161 if you are ready to take the first step toward re-gaining control of your finances.