Q: Did you know that Abraham Lincoln filed bankruptcy?
A: Abraham Lincoln, our 16th President, had a tough life before seeking the nation’s highest office. Lincoln failed in business, love, and politics before his career finally took off. In 1833, Lincoln and a business partner purchased a general store, which sold goods that the pair bought from other stores on credit. The plan didn’t work out. With the store failing, Lincoln sold his shares in the company. However, when his former partner died, the store’s creditors came after Lincoln, who was forced to file bankruptcy.
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