The decision to file bankruptcy is life changing, and perhaps even frightening at times. A knowledgeable attorney will act as your guide and counselor to help you make the best decision for your personal situation. Despite the benefits of filing for bankruptcy, many people do not want to talk about it. However, people from all backgrounds have considered or actively filed for bankruptcy. It is one of the highest regarded solutions for overwhelming financial debt and works quickly to end the calls and harassment of debtors. In fact, there are many successful people who went bankrupt, including many of the most well-known celebrities and entrepreneurs.
Top 10 Successful People Who Went Bankrupt
- Abby Lee Miller – jump starting the list, as well as recent headlines, is reality television star, Abby Lee Miller. After filing bankruptcy, it was later discovered that she had failed to report all of her finances. This led to a case of bankruptcy fraud and a recently administered jail sentence.
2. Toni Braxton- has a celebrated music career and a huge voice that happened to be bigger than her bank account, which led her to file bankruptcy. She filed years ago and has sense sought quality financial counsel to ensure that she leads a better quality of financial success in her music career and life.
3. Larry King – Before becoming one of cable network’s most influential figures, his career in journalism was plagued with criminal charges and issues of financial despair. King was faced with more than $30,000 in debt and filed bankruptcy in the late 70’s.
4. Kim Basinger – she is proof that real-life troubles exist even for Oscar- winners. Her bankruptcy filing occurred because of her failure to follow-through with an agreement to her part of Boxing Helena. Orders for her to pay more than $8 million led her to filing bankruptcy.
5. Rapper 50 Cent- once declared as one of the five wealthiest artists of hip-hop, the rapper filed bankruptcy less than a year later. After being ordered to pay millions following a huge lawsuit filed against him, declaring bankruptcy was a last ditch move to reorganize his tremendous debt.
6. Mark Twain – bankruptcy is no new kid on the block, as it dates back to the 1800s when Mark Twain found himself in a financial pit. This caused him to file bankruptcy.
8. Teresa Giudice – another reality television star filed bankruptcy eight years ago, which was the onset of a slew of other legal issues that followed.
9. Donald Trump -The current president of the United States and long-time businessman has had his share of failed business ventures. Trump has no record of personal bankruptcies, however.
10. Burt Reynolds – a failed restaurant venture and marriage to Loni led Mr. Reynolds to the nearest bankruptcy attorney in the 80s.