You need not feel embarrassed regarding bankruptcy. It is not a loophole in the law but, instead, is a Constitutional right created in 1776 to help people make a new financial start for themselves. Be grateful that you live in a free nation that makes a second chance possible. People as diverse as Thomas Jefferson (our third president), Abraham Lincoln (our sixteenth president) Walt Disney, P.T. Barnum (circus owner), Dorothy Hamill (professional ice skater), Milton Hershey (chocolatier), Rembrandt, John Bobbitt, Samuel Clemens (Mark Twain), Francis D. Nixon (brother to Richard Nixon), King Phillip II (King of Spain 1556-1598), Buckminster Fuller, John Audubon (naturalist), Jerry Lee Lewis (entertainer), Larry King (radio personality), Melba Moore (actress), Wayne Newton (entertainer), Barry Manilow (entertainer), Burt Reynolds (actor), and Toni Braxton (singer) have all been bankrupt.