Everyone wants to be a star or at least live like one, right? Based on appearances alone, most stars seem to enjoy a pretty nice lifestyle without a financial care in the world. But the truth is many celebrities have faced money problems as severe as or more severe than the average consumer. And, it seems like the stars who are most hard hit with going from extreme highs to extreme lows are reality stars. This could be because reality shows are short lived, and thus the people who star in them only get to enjoy their celebrity status and the celebrity paycheck that goes along with that status for a short time.
Some reality stars who are no longer able to afford to live lavishly anymore are:
● The Duggar family: while this reality family may not necessarily be broke, given they claim to live debt free and on a cash only basis, there can be no doubt some of the scandals that rocked the family have led to the cancellation of their show. And now that the show is cancelled, the Duggars will not be raking in large paychecks per episode.
● Jon Gosselin: the former husband of Kate Gosselin and father of multiple sets of multiples has been known to work in food service to make ends meet after his reality TV days came to an end.
● Richard Hatch: Hatch is the first season winner of the original reality TV show, Survivor. But failing to pay taxes landed Hatch behind bars, more than once.
● Danielle Staub: this real housewife from New Jersey is one of at least two housewives who filed for bankruptcy; Sonja Morgan also took advantage of the bankruptcy process. And another star from the housewives franchise, Kim Richards was arrested for shoplifting.
The fall from fame may or may not have contributed to these reality stars’ financial distress, but one thing is certain, reality stars can have the same struggles as everyone one else with the paychecks stop coming in like clockwork. This is why it is so important to have a solid financial plan, and a contingency plan for when finances go south. Whether your plan includes bankruptcy, refinance, consolidation of debt, or some other form of creative financial solution, we can help.
For answers to your questions about debt, contact us at www.DsouzaLegalGroup.com.