Top Ten Celebrity Bankruptcy Cases
The summer of 2015 was full of celebrity news, and the majority of it had to do with break-ups and weddings. An unusual number of celebrity singers filed for divorce (the list includes Reba McEntire, Christina Aguilera, Gavin Rossdale, Blake Shelton, and Miranda Lambert), and one of the most famous Friends finally tied the knot. It seems every time you turn around a superstar is making headlines for one reason or another, and if it is not for their personal relationships it is often about their personal finances. If you think bankruptcy is only for the ordinary guy, think again. Plenty of celebrities have had their turn in bankruptcy court, and the list might catch you by surprise.
The top ten celebrity bankruptcy cases include the following:
- Rapper 50 Cent filed a business bankruptcy, or Chapter 11. This is an example of how bankruptcy can help you to reorganize a business, rather than give protection to a consumer debtor. Sometimes this type of filing is done for business purposes rather than for the fact that the company is actually out of money.
- Presidential hopeful Donald Trump has sought the protection of bankruptcy in the past.
- Singer Billy Joel has filed for bankruptcy more than once, and says the cause for the filings were his divorces. This is a perfect example of how divorce and bankruptcy can often go hand in hand.
- Actress Kim Bassinger filed in the 1990’s.
- Marvin Gaye attributes his need to file bankruptcy to a past due alimony bill of over half a million dollars!
- Favorite novelist of History and English teachers everywhere, Mark Twain, filed for bankruptcy later in life.
- TV talk host Larry King has filed bankruptcy.
- Joe Francis, of Girls Gone Wild fame has had to declare bankruptcy.
- Child star Gary Coleman is on the list of celebrities that have filed bankruptcy to clean up their finances.
- Aaron Carter, who also rose to fame as a child, claims he filed bankruptcy because he was not in charge of his finances.
These stories should illustrate to you that the stigma once associated with filing for bankruptcy is long since gone. If you are facing overwhelming debt and need a breather, bankruptcy is a real solution. Call us today to find out what’s right for you.
For assistance with bankruptcy issues, call our office today. Call a Plantation, Florida debt relief attorney today for more information.