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Tips On How You Can Avoid Filing Bankruptcy


018 Monument consecrated to prosperity in the memory of the unbelievable folly of the XX Year of the XVIII Century (first state)
personal bankruptcy

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" MONUMENT CONSACRE A LA POSTERITE EN MEMOIRE DE LA FOLIE INCROYABLE DE LA XX ANNEE DU XVIII SIECLE." (No. I.)
Ter eeuwiger gedagtenisse der dwaasheid van het xx jaar der xviii. eeuw.
[Monument consecrated to Posterity in Memory of the Incredible Folly of the 20th Year of the 18th Century.]

The triumphal chariot of Deceit, pushed along by the crowd of speculators from Quinquenpoix (Rue de Quincampoix, where John Law’s offices are) drives Dutch crowds into the Hospital, the Madhouse and the Poorhouse.

Detail:

This is an engraving, with verses and a description beneath, see below, in Dutch and French. The design represents an open place before the office for selling shares, in the Rue Quinquempoix, Paris. 1 Before this place a great crowd of persons appear; these are gathered about the doorway which is marked "QUINQUENPOIX.", where, preceded by flying Fame, with her trumpets, is a chariot, like a cart, which is dragged by six emblematical figures, thus named, "MER DU SUD" 2 (Compagnie, South Sea Company), holding a paddle, and girt with a net, in which are many fish. "MISSISSI" [ppi] (Compagnie), having a wooden leg, dressed like a red Indian, ragged, half-starved, and holding a playing-card, on which, like an ace, is a fleur-de-lis. "WEST" (India Company) with a pen thrust through his cheek; " BANQUE " a woman who clenches her right fist, and holds with the other hand a scroll, on which is "Prime pour la BANQUE a 300."; a serpent bites her foot. "DES INDIES" wears a Dutch hat, with a windmill (?) in front of it; this figure probably refers to the Dutch share mania, or to the full-blown scheme of Law, which bore a comprehensive title of this kind; "AssuRA"(nce) is a youthful female figure. In the chariot sits Folly, with a fool’s cap, bearing a crescent-moon for a crest; holding a bauble and fan ; she wears a large hoop, which displays her legs and high-heeled shoes. A cock (France), and a lion (England), and another lion grasping the heraldic arrows of the Seven United Provinces are behind her, on the
seat of the chariot. On the felly of the wheel which we see is "COMPAGNIE DE COMMERCE & D’As"(surance), and, on the spokes of the same are the names of "LA HAYE." "HOORN." "MONIKENDAM." "DELFT." "GOUDA." "ROTTER-D." "DORT." "EDAM." "[Enkhuiz]EN." and (Alkm)"AAR".

Several men, as described below, push the wheels of the chariot; it goes over a figure of a woman lying supine on the ground, who clasps books respectively inscribed "JOURNAL." "GRAND LIVRE", and "MEMORIAL." Near this figure lies an open book, inscribed "Livre Brouilon". Under the chariot a large bale, inscribed "Q.M.No.2."

Above, in the air, is the Devil blowing bubbles and riding on a cloud, from which proceed rays of light, these fall on the figure of naked "FORTUNA" who floats over the chariot and the surrounding crowd. These rays are inscribed, “Transports un cerveau" (Fugue states?), "Proces insomnies", "Innanities" (Inanities), “Dettes”, (Debts) "Desespoir" (Despair), "Maladies", "Tristesse" (Sorrow), "Folies", “Fievres” (Fevers)"Esperance" (Hope), "joye immoderee" (Irrational exuberance!), Consience", "Banqueroutes" (Bankruptcies), Ocasion manque", and "Meurtres". The bubbles which the Devil blows descend with these rays on the crowd, together with a fool’s cap, serpents, and dragons. Fortune scatters papers which respectively inscribed, "Contracts du SUD." , S "Prime de CACAU", "SUD. 1e Souscription" "3me Souscription" " 2e Sousc"[ription] " SUD." "Prime sur la SUD", "LE WEST". "LA BANQUE". "LE SUD". "ASSUR"[ances] and "Comp.(agnie) des INDES".
1 See " Almanach de la Fortune." &c. 1720, No. 1618.

2 See " Waare afbeelding van den vermaarden Heer Quinquenpoix ", Sept. 1720, No. 1612, for explanations of the terms used here, i.e. "Mer du Sud, Mississippi, West, Banque, and Des Indies". The names of Dutch towns are those of places which were centres of stock-jobbing, and occur very frequently on the Dutch satirical prints which are catalogued in this volume with the date 1720.

3 This probably refers to the so-called "Contract" of the South Sea Company, by means of which that corporation had a limited privilege of trading with the Spanish colonies in the South Seas, for the benefit of the Queen, the Company, and the King of Spain ; other English trade in this quarter being forbidden. See "To the Honourable the South-Sea-Company", 1732. (See the "Crowle", Pennant’s "London," viii. 69.)

There is great activity among the crowd to catch these bubbles and billets. In front two men are struggling; one has thrown the other on the ground and belabours him; near them lies a paper, with "Contracts sur la BANQ." An old man wearing a hat kneels on the earth in the right hand corner, at foot, and writes on a paper which he supports on a block of stone, inscribed, "Transport"; a second man places money on the stone, while a third seems telling the first what to write. Near these kneels a man who is tearing a paper entitled PRIME DE CACAO, and appears in great distress. Behind him is "BOMBARIO." (Humbug), whose name appears on many of these plates; he is conversing with a man who holds up his hands in astonishment or lamentation. In the office behind these figures appear many persons bargaining and talking.

On our left of the design, in front, is another large group of persons, comprising one who whispers to another, while a boy picks the pocket of the latter; a young man who lolls on chairs at a table, and receives the obsequious attentions of another, who stands by his side. Behind these is a man with a magic-lantern, "TOVERLANT "(ern). Another man is mounted above the heads of a crowd of persons, who eagerly jostle for papers he holds in his hands, and which are inscribed, "pour Amsterda"(m), and "Projet van assurante voor Amst"(erdam).

In the background is a high wall, with three doorways in it, which are enriched with the arms of Amsterdam, and sculptures. That on the left is inscribed "’T ZIEKEN-HUIS" (Hospital for the Sick), cripples and others are entering this doorway. Over the entrance in the centre is "‘T GEKKEN-HUIS" (Lunatic Asylum). The entrance on our right is that of the "ARM-Huis." (Poor House).

At the foot of the design, occupying the middle of the lower margin of the print, is placed a Janus-head, as described in the French inscription, which is quoted below ; this head is enclosed by a wreath, composed of flowers on one side and thorns on the other; on a label attached to this element is, besides the name of the artist, as cited above, the following motto : "DESINET IN LUCTUM SPECIES FORMOSA SUPERNE Hor. Art. Poet"

There is another impression of the same, from a second state of the plate, No. 35, in the same volume, in which certain alterations appear, e.g. a crop of mushrooms have risen before the feet of those who drag the chariot. These bear the names of the towns in which the Stock fever raged most violently: "denBriel." "Weesop." "Emden" "Middelburg." "Campen" Zutphen." "Harlingen" "ter Veer[Veere]" "Vlissingen" " Zwol" " Enkhuisen" and "Vlaardhigen" (Vlaardingen)
Near these the following is added :

"De Bubbels ras als Duivels broodt verscheenen,
In korten tydtgekomen en verdweenen
Betoom uw lust en drift;
Zy stecken vol vergift."

[The Bubbles which soon turned out to be the Devil's bread, within a short time appeared and disappeared; therefore bridle your desire for them, they are full of venom and passion.]

The face of the man who writes on the stone has been made younger than before, and his hat removed. The inscription on the stone is "Procuration pour HOORN &c." Two of the broken stones which, in the first state of the plate, lie near the larger stone in this corner, have been changed to bundles of papers, and inscribed "Procuration." On the other side of the design, a figure of a man seated, likewise that of a young lady, have been introduced where formerly was that of the young man lolling on the chairs. Before the young lady an old gentleman kneels, while he kisses her hand, the fingers of which hold the bribe marked, "Contract du Sud a. p 1,000." He places on her lap another paper which is inscribed, "Billet au porteur de p 50000." She appears to affect reluctance to take these bribes. The seated man, mentioned just above, holds a paper marked, "Contract de 5OO £ Sterl" The figure of the individual behind that of the obsequious man, who appeared in profile and wore a broad-brimmed hat, has been altered; the face is now in full and the hat is cocked.

At the foot of all the above-named impressions of this print the following engraved inscription, and the like in Dutch :

" La FORTUNE DES ACTIONS sur son Char conduit par la FOLIE, qui est assez reconnoissable par ses attributs ordinaires, & par son ample lupe de baleine, qui est aussi une folie du terns. Ce char est tire par les principales Comp. qui ont donne commencement a ce Negoce pernicieux, comme le Mississipi avec une jambe de bois, le Sud avec une jambe bandee & un emplatre sur 1′autre, la Banque d’Angl. foulant aux pieds un serpent, la Comp. du West, celle d’ Assurance, et celle des Indes aussi d’Angl. les Agens de ce commerce font tourner roues du Char, aiant des queues de Renard pour marquer leur adresse & JUTS ruses. Ou voit sur les rais les diverses Comp. tantot hautes, tantot basses, selon que tournent les roues ; & le veritable Commerce renverse avec livres & marchandises, & presque ecrase sous les roues du Char ; une grande boule de monde de tout etats & de tout sexe courent apres la Fortune pour raper des Actions. Dans les nue’s est un Diable faisentdes bouteilles de Savon, poi se melent aux billets que distribue la Fortune, a des bonnets de fons qui )mbent en partage & quelques uns, & a de petits Serpens qui marquent les insomnies, l’envie, le desespoir &c. La Renommee vole devant, repandant par fut cette Contagion. Le Char conduit ceux qui le suivent a l’une des trois )rtes que Ton voit, savoir 1′Hopital des foux, des malades, & des gueux. A gauche est un homme qui distribue le premier Projet de Comp. pour Amsterdam, que la sage prevoyance des MAGISTRATS a d’abord suprime. Ceux qui voudrons se donner la peine d’examiner, I decouvrirons plusieurs choses, qu’on n’a pas cru devoir expliquer en detail, pour laisser aux curieux le plaisir d’ avoir quelque chose a deviner. Cette FOLIE a pour Devise deux Tetes, dont Tune jeune &
riante marque le beau cote des Actions ; 1′autre vieille & accablee de chagrins en marque la suite, par la Sentence Latine qui signifie : Le chagrin suit souvent une belle aparence."

De FORTUIN der ACTIEN op haar wagen, gevoert door de ZOTHEID kenlyk aan haar hulsel, als ook aan de brede balein rok, nieuwe zotheid van de hedendaagsche tyd. Deeze wagen wort getrokken door de voornaamste Comp.[agnien] die het begin zyn geweest van deeze schaadelyke Negotie, als Mississipe, (met houte stelt.) Zuydzee (met pleisters en zwachtels om de bene. De Bank (treedende op een slang.) met de West-Oostindische en Assurantie Comp. Van Engelandt. De opblaazers van deeze rook negotie (gemerkt met vosse staarten) draaien de wielen van deeze wagen. Men ziet op de straalen der wielen de diverse Comp.[agnien] die cours hebben gehad, nu hoog, en den laag naar het draaien der raders. Terwyl de oprechte koophandel met zyn contoir boeken en koopmanschappen door de wagen word vertreeden en byna verbryselt. Een groote meenigte van menschen van alle soort, so mans als vrou-wen, loopen de fortuin na, om geld in d’Actien te winnen. Een quaden Geest blaast van boven ydle water bellen. Sommige vallen Zots-kappen te beurt. Verscheide slangetjes verbeelden zorg, ’t ongerust slapen, ziektens, nyd, wanhoop, moorderyen en andere rampzalige gevolgen van deeze generale zotheid. De faam vliegt voor uit en verspreit deeze besmettelykheid door heel Europa. Onderwyl geleid de wagen van alle die haar blindelings volgen naar een deeser drie poorten, als Ziek-Arm of krankzinnig Huis. Ter linkerhand ziet men d’uit-deeling van ’t eerste project om een Comp.[agnie] binnen Amsterdam op te rechten, het welk door de wyze voorzorg van de Ed.[elachtbare] Magistraat ver-booden zynde, all andere projecten die gereed waaren zig ook te vertoonen, daar door zyn afgeweeze. De verdere verklaaring blyft voor den aanschouwer.
Het dubbeld Hoofd, het een jong en schoon, met roozen vercierd, verbeeld de schoone schyn des windhandels, de andere oud, en afgemat van droefheid, vertoond het einde of gevolg met het latyns devis, dat beteekent Schyn bedriegt.

This Dutch satire on John Law of Lauriston 1 is No. 40 in vol. ii. of "Het rroote Tafereel der Dwaasheid ", a collection of similar satires on the Mississippi, South Sea and West India Companies, and other bubble schemes of 1720 and the preceding years.

This print, is No. 34, vol. i., in the collection of Dutch satires on the schemes of Law and others, in and about 1720, which collection is styled "Het Groote Tafereel der Dwaasheid " &c., 1720. It is one of the few (maybe the only?) engraving, by B.(enoit) Picart

Source: Prints and Drawings in the British Museum, Division I. Political and Personal Satires, Volume II June 1689-1733, Chiswick Press (1873), Catalog Nos. 1627-1629, pp 444-450. 14 X 8-1/2 in.

When debt begins to pile up, even the most responsible among us can panic and quickly lose control of the situation. Sometimes, it just snowballs from having a little bit of a financial issue to losing complete control in a short amount of time. Once you realize you have to handle the problem, the real struggle begins. This article will help you get through your bankruptcy with a minimum of hassle.

Take on a second job to increase your income. Rather than file for bankruptcy, try working with your creditors in an effort to get your monthly payments reduced or payments schedules extended. Your creditors will likely be willing to accommodate you, freeing you from the need to declare bankruptcy.

Realize that bankruptcy, ultimately, might be better for your credit than continuing to make late payments or miss payments on your debt. Bankruptcies can remain on your credit reports for 10 years, you can jump right into repairing your credit. The best aspect of bankruptcy is the fact you can have a new start.

Most attorneys make a free service available to deal with creditors who are constantly calling about your debts. All you have to do is provide the number. Your creditor can then call and confirm that this debt is included in your bankruptcy filing. Then, you won’t have to worry about any further harassing phone calls.

When preparing to file for personal bankruptcy, be sure to keep a list of the questions you have for your lawyer. Remember, an attorney’s time is costly. To save yourself both money and a lot of trouble, make a detailed list of your concerns and questions prior to consulting your lawyer. Be sure that you fully understand that is happening with regards to your case.

As you are heading towards a bankruptcy filing, don’t be tempted to run up cash advances on your credit cards in the belief they will be erased in the legal proceedings. This is fraud, and even if your other debts are discharged, you will have to pay the money back.

Check your debt to find out if it will clear the bankruptcy and avoid unnecessary filing. Certain classes of debt, including taxes, child support, and student loans, are not eligible for bankruptcy. Instead, credit repair agencies or a loan consolidation service should be used for reducing debt.

A personal bankruptcy settlement does not mean your debts are 100 percent discharged every time. In some cases, if chapter 13 bankruptcy is what you file for, your debts will be restructured instead. This ensures that creditors still get some of what they’re owed. There are a number of people who resist filing for personal bankruptcy because they think it is an irresponsible choice. When you file Chapter 13, you can still work with creditors to pay a portion of your debt without crushing under an overwhelming amount of debt.

Do not be afraid to remind your attorney of important specifics of your case. You cannot expect your lawyer to remember every important detail without some reminder from you. It is in your best interest to speak out. You are in control of the outcome of your bankruptcy.

Look for an attorney that carries a strong reputation. Ask if you can get a free consultation to find out if bankruptcy is the best option. If they do, make an appointment to see them and get all pertinent financial documents or statements together, so you will have them ready to take with you. Your lawyer will then educate you on how the filing process will go.

No matter how careful you are, major life changes can crop up that cause you to lose control of your finances no matter what you do. By following the pointers presented in this article, you will be able to keep your finances under control while proceeding through bankruptcy. Incorporate the advice given and see how it can make a huge change in your life.