After bankruptcy, an entrepreneur rebuilds
After losing my first business, I built a successful new one and learned to live debt-free.
(Fortune Small Business) -- Last year I told Fortune Small Business about my decision to file for Chapter 13 bankruptcy in 2005 after my three Dallas-based restaurants went under. I opened up to readers because I wanted to show them that there is no shame in bankruptcy; it's not an escape hatch for people who lack business ethics, but an opportunity for recovery when bad things happen.
Since filing, I've worked three jobs to provide for my family and pay off my debt. In addition to running my public relations firm, Big Ink, I broker commercial leases and consult in the restaurant industry.
I worried that potential clients wouldn't view me as an expert anymore after my bankruptcy, but that wasn't the case - I gradually accrued real estate clients, some of whom bought PR services from Big Ink. Today my PR firm does about $400,000 a year in sales and has four employees.
Sometimes I think of Big Ink as a phoenix rising from the ashes.
One of the most important lessons I've learned over the past two years is how to live debt-free. In 2005 my wife and I enrolled in a course on restoring financial health; I've since used the methods we learned to run my business.
Thanks to those practices and the help of my friends, I've been able to rebound from bankruptcy. I will soon pay off the last of my debts - the end is in sight. 
Life after bankruptcy: A small business owner gives in and files for Chapter 13 - and discovers it was the smartest decision he's ever made.
A startup's best friend: failure
Credit crunch hits small businesses
LLCs and personal bankruptcy
Features-
Smart entrepreneurs are now doing deals in 140 characters or less on Twitter. More -
As more customers choose - or are forced - to fill prescriptions by mail, independent pharmacies are struggling to survive. More -
A Texas hospitality company considers where to invest and where to cut back to weather the recession. More -
How 7 innovative companies are inspiring workers and boosting the bottom line. More -
42 startups duked it out in the world's most lucrative business plan competition. We trailed one team to the bitter end. More -
The Emerging 200 program aims to boost job growth by training inner-city entrepreneurs to expand their companies. More -
These resellers of DVDs, CDs and books make millions from the media industry's leftovers. More
Never mind the headlines -- for some fireworks companies, there's no slump. More
Tech competition is heating up: Google vs. Microsoft! Microsoft vs. Apple! Apple vs. Palm! Here's how the second half of '09 is shaping up. More
Your car may not be new, but its gizmos can be - for as little as a few hundred bucks. More
More Small Business
