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Shivjeet Kullar

The author is a legendary ad man who has won over a 100 awards in his career. He is also an author, a novelist a playwright and song writer. Now he has founded the unusual and powerful website adytude.com which helps power other websites, brands and businesses ahead

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BW Businessworld

The Hidden Beauty In Bankruptcy

Is there any beauty in bankruptcy? Is there anything positive that can come out of such a horrible situation?

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I bet you know a few people who are bankrupt right now. Of course, not many people know about them but because they are close to you or are part of your family, you know. They are completely on the edge, staring down the barrel of a life-and-debt gun and only a semi miracle can save them.

This article is about them and people like them. It’s not about famous tycoons on the run because of their own greed.

Nor is it about businessmen who have taken one too many risks. It’s about honest and decent people who are bankrupt because of an accident, a misjudgment, a job reversal or similar factors.

Why am I qualified to write this article?

Because I’ve been bankrupt twice.

First I had money. Then I had more money. Then I came to the edge.

I pulled it all together in an act of bravery (what choice did I have) and rescued my colleagues and family.

Soon once again I had money. Probably too much of it. But then again no. Now I’m not sure how much I have but it seems enough.

My first piece of advice to anyone helping a person who is bankrupt. Don’t lend them any money. Just give it. It’s much better to give someone 1000 bucks rather than lend them 2000.

Tell them ‘this is yours – you don’t need to give it back to me – if you have money in the future – give some to someone else.’ This takes the pressure off them. When are they struggling against debt why add to their burden?

I’ve often given money (whenever I’ve had it). I once gave 70k to someone I met for the first time because I realised what a tough time he was having. Six times I’ve given money to people.

One is still broke. Another has found a new life. Two are good, good friends. And two avoid me – I think they feel embarrassed.

You know the first thing that people worry about when they face bankruptcy. Not rent, not EMI, not even savings.

They worry about school fees. That is the crucible. Not being able to pay school fees apparently constitutes the ultimate shame.
Now to the point.

Is there any beauty in bankruptcy? Is there anything positive that can come out of such a horrible situation?

And here let’s avoid clichés like ‘failure the stepping stones to success’ or ‘that which doesn’t break you makes you stronger.’
There is one thing though. Bankruptcy can make you rich in faith. And humble. And kind.

It’s true. When you face an empty bank account you tend to focus much, much more strongly in Prayer. You develop faith to take you through. What else will?
If you are smart, you hold on to this prayer and faith after things get okay.

And believe me, things will get okay. In nine cases out of ten people recover. I’ve seen this time and time again.

You will be fine.

But keep the faith.


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Magazine 3 March 2018 bankruptcy
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