Celebrities who declared bankruptcy
Ever feel like you don’t have two pennies to rub together? You’re not alone. Even some of the richest and most famous people in the world have had to file for bankruptcy at one point or another. Some of them made millions and then lost everything, while others went bankrupt well before their dreams of stardom came true.
Bankruptcy is a legal process that lets folks who are drowning in excessive debt discharge what they owe and start over with a clean slate. Though declaring bankruptcy can get creditors off your back, it has negative effects that can linger on your credit score for years. Here’s how these celebrities ended up in the red and what some of them did to get back on their feet.