There is an old saying that a bankruptcy happens slowly and then all at once. That is definitely the case in my situation. I ran a successful business for about three decades until I suddenly required a licensed Houston attorney after I made a fatal mistake that cost me everything. I took pity on an old friend who, down on his luck largely due to his own personal failings, needed a job to take care of his family. Considering I was godfather to his youngest boy, I didn’t feel like I could refuse to help out. Little did I know one of his personal failings included a ravenous gambling habit. Since he worked for me as an accountant, he was able to hide the money he was stealing.
After everything shook out, I was a million dollars in the hole. Continue reading