While regular, hard-working Americans often struggle with their finances, it is harder to sympathize with celebrities who lose large amounts of wealth.
Celebrities often have loads of cash, so their financial difficulties provide cautionary tales about the dangers of excess spending and poor money management.
In fact, dissecting a celebrity bankruptcy may help non-celebrities make better financial decisions.
The list of celebrities who have gone broke reads like a "who's who" list of famous Americans. Here is a laundry list of celebrities who have lost their riches:
While the list of celebrities who have filed bankruptcy is a striking example of the dangers of excess spending, it also reveals the potential healing effects of bankruptcy.
Figures such as Disney, Nelson, and Twain all went on to have successful careers after discharging their debts by filing bankruptcy.
While each situation is different, some common themes run through celebrity bankruptcies. Common characteristics of celebrities who went broke include:
In an economy that depends on the easy availability of credit, making financial mistakes that create huge amounts of debt is easier than it has ever been. Fortunately, though, bankruptcy is also designed for people who haven't appeared on the cover of People.
If you are struggling with debt, you may be able to discharge some or all of your debts through personal bankruptcy.
To speak with a local bankruptcy lawyer for a free consultation, simply fill out the brief form below.
PAID ATTORNEY ADVERTISEMENT: THIS WEB SITE IS A GROUP ADVERTISEMENT AND THE PARTICIPATING ATTORNEYS ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. It is not a lawyer referral service or prepaid legal services plan. Total Bankruptcy is not a law firm. Your request for contact will be forwarded to the local lawyer who has paid to advertise in the ZIP code you provide. Total Bankruptcy does not endorse or recommend any lawyer or law firm who participates in the network nor does it analyze a person's legal situation when determining which participating lawyers receive a person's inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Total Bankruptcy does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is Kevin W. Chern, Esq., licensed in Illinois with offices at 25 East Washington, Suite 400, Chicago, Illinois 60602. To see the attorney in your area who is responsible for this advertisement, please click here, or call 866-200-8052.
FLORIDA ONLY: Total Bankruptcy is considered a lawyer referral service in the state of Florida under the Florida Rules of Professional Conduct. By all other standards, Total Bankruptcy is a group advertisement and not a lawyer referral service.
If you live in Mississippi, Missouri, New York or Wyoming, please click here for additional information.
By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.