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Celebrity Bankruptcy Stories Who Filed and Bounced Back

Celebrities drink champagne

If you think bankruptcy is only for those who are less fortunate, you’re wrong. The truth is hard times can happen to anyone -- even celebrities. We’re going to talk about celebrity bankruptcy stories, not because we want to put them in the spotlight, so we can learn from their mistakes.

Financial struggles were only a minor setback for these celebrities and the great part is they didn’t give up. They actually bounced right back; they went on to keep working hard and now they’re worth millions.

If you’re going through tough financial times we hope these celebrity bankruptcy stories inspire you to stay motivated and pay off your debt. Keep telling yourself that debt is only a temporary situation and you will get through it with dedication, a strict spending budget and a lot of financial discipline.

Actress Kim Basinger

The movie star declared bankruptcy in 1993 not long after her net worth was reported at more than $5 million dollars. This was reportedly due to a movie deal gone bad that resulted in the actress being sued by the studio.

The financial setback didn’t stop the star from moving forward. She went on to appear in popular movies such as 8 Mile with Eminem and Cellular with Chris Evans. It’s also reported that she recently signed a modeling contract at age 60. If you have the will to work hard you too can overcome money struggles.

Rapper, 50 Cent

He may best be known for his party anthems, but rapper 50 Cent is also a smart business man. He actually owned Vitamin Water and then sold it to the Coca-Cola Company for a hefty price tag. This put his music, acting and business fortune at $155 million according to Business Insider. However, despite his multi-millions, 50 Cent filed for bankruptcy protection last summer.

Debt hasn’t stopped 50 Cent from continuing to rebuild his fortune. He is promoting new music, posting pictures of money on social media and even bragging about buying property overseas. 50 Cent proves that current financial troubles don’t have to last forever.

Director, Francis Ford Coppola

When you hear his name you may automatically think of the movie The Godfather, but Francis Ford Coppola is also known for some infamous money troubles. When he declared bankruptcy in 1992 his debt ($98 million) almost doubled his assets ($52 million).

The financial woes didn’t put an end to the director’s career. He went on to produce the 2013 movie The Bling Ring and owns a winery as well as several hotels. Coppola is proof that when one door closes another one opens.

If you’re going through tough financial times like these celebrity bankruptcy stories, we can help. Contact us today and let’s make a plan to help you get back on track.

Photo source: Pixabay

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