Speaking of politicians…what former US President once had to pay 150K in debts to a Vanderbilt?
Ulysses S Grant, my nominee for best presidential name ever, can best be described as the one of the greatest military leaders and one of the most ineffective presidents in the history of America. As a military man, Grant was known for an ability to outmaneuver his enemies and strike where and when it was least expected.
As a president, Grant established his legacy as a supporter of civil rights during the Reconstruction period, and as man concerned about the African American and Native American populations, as fighter of the KKK. Despite being a leader of men, however, as president he was apparently only able to attract idiotic and corrupt men into positions of political power. The economic depression of 1873, combined with a variety of domestic and international scandals forever marred his reputation as a president.
Unfortunately for Grant, life after the presidency did not get any better. Having forfeited his military pension upon being elected president, Grant made a series of decisions that eventually led to bankruptcy. A world tour on his own dime saw him visit England, Scotland, Ireland, Germany, Russia, Egypt, Israel (then the Holy Land), Siam (Thailand), Burma, China, and ended with Grant arbitrating a territorial dispute between Japan and China and receiving an honorary doctorate from the University of Wisconsin.
Later he would invest in a banking partnership only to have his partner, Ferdinand Ward, bankrupt the company and flee with the money. Grant eventually paid off Vanderbilt to the tune of $150,000 with many of his Civil War mementoes.
It wasn’t until after his death that congress established the presidential pension, ensuring that our presidents would no longer die penniless. If only we all had that backup plan. It just goes to show, if the president of the United State can go bankrupt, anyone can.
Here’s my advice, if you are facing a financial crisis, do not try and bury your head in the sand. It will only make things worse. Instead, seek out the advice of an experienced Washington bankruptcy lawyer. Just make sure it isn’t a backstabber named Ferdinand, my nominee for best villain name (see Rio Ferdinand).
In today’s troubled economy, much like the financial crisis and depression of 1873, many of those around us are hurting. With our economy still in shambles, unemployment at double digits, and our local housing market still in the toilet, it’s not surprising that so many Washingtonians are having difficulty just paying their rent and covering the basic necessities.
Fortunately, help is available. Your creditors either want you to believe that filing for bankruptcy is not an option any more, or that even thinking about filing a Washington bankruptcy somehow makes you a bad person. This is absolutely poppycock! The real truth is that over 90% of people still qualify under the new bankruptcy laws. More importantly, the Federal and Washington State bankruptcy laws were specifically put into place to help honest and hard working people who have fallen on hard times.
Of course, filing a WA State bankruptcy is not for everyone. And, there are other alternatives. If, however, you are able to qualify, it may be your best option. A Washington bankruptcy can do many things such as help you save your home from foreclosure, wipe out your credit card debts and medical bills, and it will also free up immediate monthly cash flow to help you pay for basic necessities.
You don’t get many chances to hit the “reset” button in life. But a Washington bankruptcy is one of those rare chances. And, if by chance you are looking for a good Washington bankruptcy lawyer, might we recommend David M. Lux. He successfully files hundreds of bankruptcies in Western Washington every year.