--- title: "Meaning & Key Takeaway of: Bankruptcy is a serious decision that…" description: "\"Bankruptcy is a serious decision that people have to make.\" — Herb Kohl" image: "https://sms4smile.com/quotes/i/a46/herb-kohl-25520_bankruptcy_bankruptcy-is-a-serious-decision-that-pe_2856620.jpg" --- # Bankruptcy is a serious decision that people have to make. ![“Bankruptcy is a serious decision that people have to make.” quote by Herb Kohl](https://sms4smile.com/quotes/i/a46/herb-kohl-25520_bankruptcy_bankruptcy-is-a-serious-decision-that-pe_2856620.jpg) [Download](https://sms4smile.com/quotes/i/a46/herb-kohl-25520_bankruptcy_bankruptcy-is-a-serious-decision-that-pe_2856620.jpg) [Open image](https://sms4smile.com/quotes/i/a46/herb-kohl-25520_bankruptcy_bankruptcy-is-a-serious-decision-that-pe_2856620.jpg) > “Bankruptcy is a serious decision that people have to make.” [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Bankruptcy is a grave, last‑resort choice that carries lasting financial and emotional consequences. **In simple terms:** Bankruptcy is a serious last resort. Key Takeaway Explore alternatives first. Themes finance bankruptcy decision‑making risk Mood cautious pragmatic Type financial informative When to use this quote - business failure - personal debt - legal counsel Key Concepts economics behavioral finance Questions to Reflect On - When is bankruptcy justified? - What alternatives exist? A Different Perspective Stigma may deter needed help. ★ ★ ★ ★ ★ No ratings yet [Bankruptcy](https://sms4smile.com/quotes/about/bankruptcy/) [Bankruptcy Decision](https://sms4smile.com/quotes/about/bankruptcy-decision-3830938/) [Customer](https://sms4smile.com/quotes/about/customer/) [Decision](https://sms4smile.com/quotes/about/decision/) [Decision People](https://sms4smile.com/quotes/about/decision-people-553785/) [People](https://sms4smile.com/quotes/about/people/) [People Make](https://sms4smile.com/quotes/about/people-make/) [Serious](https://sms4smile.com/quotes/about/serious/) [Seriousness](https://sms4smile.com/quotes/about/seriousness/) ## Related quotes > [I guess it's hard work... whatever the decision is, how to show it to people that aren't necessarily dancers, how to get people to…](https://sms4smile.com/quotes/kyle-abraham/i-guess-it-s-hard-work-whatever-the-decision-is-how-to-show-it-to/) [Kyle Abraham](https://sms4smile.com/quotes/author/kyle-abraham/) > [“The major factor that makes a great leader to fail emerge from the decision of people who surround him/her.”](https://sms4smile.com/quotes/israelmore-ayivor/the-major-factor-that-makes-a-great-leader-to-fail-emerge-from-the/) [Israelmore Ayivor](https://sms4smile.com/quotes/author/israelmore-ayivor/) > [Not deciding is a decision. People don't realize that not making a decision is a decision in itself.](https://sms4smile.com/quotes/emily-v-gordon/not-deciding-is-a-decision-people-don-t-realize-that-not-making-a/) [Emily V. Gordon](https://sms4smile.com/quotes/author/emily-v-gordon/) > [Some people are going to be happy with my decision, some people aren't... But I must live my life.](https://sms4smile.com/quotes/thomas-hearns/some-people-are-going-to-be-happy-with-my-decision-some-people-aren-t/) [Thomas Hearns](https://sms4smile.com/quotes/author/thomas-hearns/) > [The 25th anniversary of the decision ... is a call to people of good will to reflect. Now is the time for recommitment to…](https://sms4smile.com/quotes/pope-john-paul-ii/the-25th-anniversary-of-the-decision-is-a-call-to-people-of-good-will/) [Pope John Paul II](https://sms4smile.com/quotes/author/pope-john-paul-ii/) > [When a person makes a decision, people will always want a reason they understand, so they'll put a negative spin on things.](https://sms4smile.com/quotes/desiree-rogers/when-a-person-makes-a-decision-people-will-always-want-a-reason-they/) [Desiree Rogers](https://sms4smile.com/quotes/author/desiree-rogers/) > [When I come to a design decision, people know that is that.](https://sms4smile.com/quotes/carlos-ghosn/when-i-come-to-a-design-decision-people-know-that-is-that/) [Carlos Ghosn](https://sms4smile.com/quotes/author/carlos-ghosn/) > [If you always make the right decision, the safe decision, the one most people make, you will be the same as everyone else.](https://sms4smile.com/quotes/paul-arden/if-you-always-make-the-right-decision-the-safe-decision-the-one-most/) [Paul Arden](https://sms4smile.com/quotes/author/paul-arden/) > [When the CEO makes a decision, people don't come back on it.](https://sms4smile.com/quotes/carlos-ghosn/when-the-ceo-makes-a-decision-people-don-t-come-back-on-it/) [Carlos Ghosn](https://sms4smile.com/quotes/author/carlos-ghosn/) > [For a game it is too serious, for seriousness too much of a game.](https://sms4smile.com/quotes/moses-mendelssohn/for-a-game-it-is-too-serious-for-seriousness-too-much-of-a-game/) [Moses Mendelssohn](https://sms4smile.com/quotes/author/moses-mendelssohn/) > [Don't take life too seriously.](https://sms4smile.com/quotes/rupaul/don-t-take-life-too-seriously/) [RuPaul](https://sms4smile.com/quotes/author/rupaul/) > [Very few people could make me fight out of my system. Burley was one.](https://sms4smile.com/quotes/archie-moore/very-few-people-could-make-me-fight-out-of-my-system-burley-was-one/) [Archie Moore](https://sms4smile.com/quotes/author/archie-moore/) > [I wonder why people make promises, they won't be able to keep.](https://sms4smile.com/quotes/anonymous/i-wonder-why-people-make-promises-they-won-t-be-able-to-keep/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [“People make mistakes.”](https://sms4smile.com/quotes/lauren-barnholdt/people-make-mistakes/) [Lauren Barnholdt](https://sms4smile.com/quotes/author/lauren-barnholdt/) > [Every artist wants his or her work to connect with someone. I think that's why people make art.](https://sms4smile.com/quotes/jenova-chen/every-artist-wants-his-or-her-work-to-connect-with-someone-i-think/) [Jenova Chen](https://sms4smile.com/quotes/author/jenova-chen/) ## More by Herb Kohl > [ A nominee \[to Supreme Court\] must possess the competence, character and temperament to serve on the bench. ](https://sms4smile.com/quotes/herb-kohl/a-nominee-to-supreme-court-must-possess-the-competence-character-and/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Judicial excellence requires an understanding that the law is more than an intellectual game and more than a mental exercise. He or she must…](https://sms4smile.com/quotes/herb-kohl/judicial-excellence-requires-an-understanding-that-the-law-is-more/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Even as we pour hundreds of billions of dollars into our efforts in the Middle East, there is much that needs to be done…](https://sms4smile.com/quotes/herb-kohl/even-as-we-pour-hundreds-of-billions-of-dollars-into-our-efforts-in/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [We need to take steps to strengthen and mend Social Security so that its promise of a secure retirement is just as real for…](https://sms4smile.com/quotes/herb-kohl/we-need-to-take-steps-to-strengthen-and-mend-social-security-so-that/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Judicial excellence requires candor before confirmation. We are being asked to give the nominee enormous power.](https://sms4smile.com/quotes/herb-kohl/judicial-excellence-requires-candor-before-confirmation-we-are-being/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [We give Supreme Court justices this freedom because we expect them to remain above the pull of politics, to avoid the effects of public…](https://sms4smile.com/quotes/herb-kohl/we-give-supreme-court-justices-this-freedom-because-we-expect-them-to/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Before we decide to trust you with this power, we ask you to stand before the public and explain your views. Justice may be…](https://sms4smile.com/quotes/herb-kohl/before-we-decide-to-trust-you-with-this-power-we-ask-you-to-stand/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [When the President makes something a priority, we see action](https://sms4smile.com/quotes/herb-kohl/when-the-president-makes-something-a-priority-we-see-action/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Over the course of more than 200 years, it has found a right to equal education regardless of race. It has guaranteed an attorney…](https://sms4smile.com/quotes/herb-kohl/over-the-course-of-more-than-200-years-it-has-found-a-right-to-equal/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [We need to fight the plague of the uninsured the way we have fought other threats to our way of life and our basic…](https://sms4smile.com/quotes/herb-kohl/we-need-to-fight-the-plague-of-the-uninsured-the-way-we-have-fought/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Its time to stop defending a system that is clearly in dire need of reform, stop issuing reports and setting up new roadblocks, and…](https://sms4smile.com/quotes/herb-kohl/its-time-to-stop-defending-a-system-that-is-clearly-in-dire-need-of/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [I will vote my hopes and not my fears](https://sms4smile.com/quotes/herb-kohl/i-will-vote-my-hopes-and-not-my-fears/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Judicial excellence means that a Supreme Court justice must have a sense of the values from which our core of our political- economic system…](https://sms4smile.com/quotes/herb-kohl/judicial-excellence-means-that-a-supreme-court-justice-must-have-a/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [Whether interpreting the Constitution or filling in the blanks of a law or a regulation, every word of the court's opinion can widen or…](https://sms4smile.com/quotes/herb-kohl/whether-interpreting-the-constitution-or-filling-in-the-blanks-of-a/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) > [ If confirmed, \[Judge of the Supreme Court\] will write the words that will either broaden or narrow our rights for the rest of your… ](https://sms4smile.com/quotes/herb-kohl/if-confirmed-judge-of-the-supreme-court-will-write-the-words-that/) [Herb Kohl](https://sms4smile.com/quotes/author/herb-kohl/) [Explore all 23 Herb Kohl quotes ](https://sms4smile.com/quotes/author/herb-kohl/) ## More Bankruptcy quotes > [One's ability to enter into thousands of lawsuits as a tool for success, or to use bankruptcy to avoid paying your former employees and…](https://sms4smile.com/quotes/john-hickenlooper/one-s-ability-to-enter-into-thousands-of-lawsuits-as-a-tool-for/) [John Hickenlooper](https://sms4smile.com/quotes/author/john-hickenlooper/) > [And now, what has Anarchism to say to all this, this bankruptcy of republicanism, this modern empire that has grown up on the ruins…](https://sms4smile.com/quotes/voltairine-de-cleyre/and-now-what-has-anarchism-to-say-to-all-this-this-bankruptcy-of/) [Voltairine de Cleyre](https://sms4smile.com/quotes/author/voltairine-de-cleyre/) > [The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing…](https://sms4smile.com/quotes/ron-paul/the-moral-and-constitutional-obligations-of-our-representatives-in/) [Ron Paul](https://sms4smile.com/quotes/author/ron-paul/) > [“Bankruptcy-Seeking assistance on declaring and filing for bankruptcy then bankruptcy centre is the right place.Get professional advice and guidance before you file for bankruptcy.”](https://sms4smile.com/quotes/bankruptcy-centre/bankruptcy-seeking-assistance-on-declaring-and-filing-for-bankruptcy/) [Bankruptcy Centre](https://sms4smile.com/quotes/author/bankruptcy-centre/) > [A woman's whole life is a history of the affections. The heart is her world: it is there her ambition strives for empire; it…](https://sms4smile.com/quotes/washington-irving/a-woman-s-whole-life-is-a-history-of-the-affections-the-heart-is-her/) [Washington Irving](https://sms4smile.com/quotes/author/washington-irving/) > [Trump Entertainment Resorts declared Chapter 11 bankruptcy. Or as Donald Trump describes Chapter 11, "Back-to-back number ones!"](https://sms4smile.com/quotes/conan-o-brien/trump-entertainment-resorts-declared-chapter-11-bankruptcy-or-as/) [Conan O'Brien](https://sms4smile.com/quotes/author/conan-o-brien/) > [If we don't change, millions of American families are just one medical emergency, or one layoff, away from financial disaster and bankruptcy.](https://sms4smile.com/quotes/jim-cooper/if-we-don-t-change-millions-of-american-families-are-just-one-medical/) [Jim Cooper](https://sms4smile.com/quotes/author/jim-cooper/) > [The unions and the auto companies have been unable to put a deal together that fundamentally restructures the industry. It needs to get done.…](https://sms4smile.com/quotes/anonymous/the-unions-and-the-auto-companies-have-been-unable-to-put-a-deal/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [The current health care takeover proposals feature a crucial payoff to Big Labor - a golden exemption from any tax on union members' generous…](https://sms4smile.com/quotes/michelle-malkin/the-current-health-care-takeover-proposals-feature-a-crucial-payoff/) [Michelle Malkin](https://sms4smile.com/quotes/author/michelle-malkin/) > [Legalized gambling is the leading cause of bankruptcy](https://sms4smile.com/quotes/john-warren-kindt/legalized-gambling-is-the-leading-cause-of-bankruptcy/) [John Warren Kindt](https://sms4smile.com/quotes/author/john-warren-kindt/) > [We do not project power from bankruptcy court. We're borrowing a million dollars a minute.](https://sms4smile.com/quotes/rand-paul/we-do-not-project-power-from-bankruptcy-court-we-re-borrowing-a/) [Rand Paul](https://sms4smile.com/quotes/author/rand-paul/) > [ In my very first term there was an issue that brought us \[George Mitchell, Ted Kennedy, Chris Dodd\] together in a very deep, emotional,… ](https://sms4smile.com/quotes/barbara-mikulski/in-my-very-first-term-there-was-an-issue-that-brought-us-george/) [Barbara Mikulski](https://sms4smile.com/quotes/author/barbara-mikulski/) > [Even if the government spends itself into bankruptcy and the economy still does not recover, Keynesians can always say that it would have worked…](https://sms4smile.com/quotes/thomas-sowell/even-if-the-government-spends-itself-into-bankruptcy-and-the-economy/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [In our equities business, 49 of the 50 most important Lehman clients are back doing business with us. The flows are 75 to 80…](https://sms4smile.com/quotes/bob-diamond/in-our-equities-business-49-of-the-50-most-important-lehman-clients/) [Bob Diamond](https://sms4smile.com/quotes/author/bob-diamond/) > [In 1997, the National Bankruptcy Review Commission recommended that chapter 12 of the Federal Bankruptcy Code, the chapter that contains bankruptcy protection for family…](https://sms4smile.com/quotes/tim-holden/in-1997-the-national-bankruptcy-review-commission-recommended-that/) [Tim Holden](https://sms4smile.com/quotes/author/tim-holden/) [Browse all 307 Bankruptcy quotes ](https://sms4smile.com/quotes/about/bankruptcy/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Bankruptcy is a serious decision that people have to make.", "creator": { "@type": "Person", "name": "Herb Kohl" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/herb-kohl/bankruptcy-is-a-serious-decision-that-people-have-to-make/", "about": { "@type": "Thing", "name": "Bankruptcy" }, "@id": "https://sms4smile.com/quotes/herb-kohl/bankruptcy-is-a-serious-decision-that-people-have-to-make/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/a46/herb-kohl-25520_bankruptcy_bankruptcy-is-a-serious-decision-that-pe_2856620.jpg", "contentUrl": "https://sms4smile.com/quotes/i/a46/herb-kohl-25520_bankruptcy_bankruptcy-is-a-serious-decision-that-pe_2856620.jpg", "url": "https://sms4smile.com/quotes/i/a46/herb-kohl-25520_bankruptcy_bankruptcy-is-a-serious-decision-that-pe_2856620.jpg", "width": 1080, "height": 1080, "caption": "“Bankruptcy is a serious decision that people have to make.” — Herb Kohl", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Herb Kohl", "item": "https://sms4smile.com/quotes/author/herb-kohl/" }, { "@type": "ListItem", "position": 4, "name": "Bankruptcy is a serious decision that...", "item": "https://sms4smile.com/quotes/herb-kohl/bankruptcy-is-a-serious-decision-that-people-have-to-make/" } ], "@id": "https://sms4smile.com/quotes/herb-kohl/bankruptcy-is-a-serious-decision-that-people-have-to-make/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```