Bankruptcy Gossip

Thu, Oct 30, 2014


Some rights reserved by Keith WilliamsonThe rumor mill abounds with celebrity gossip. Sometimes it is hard to tell fact from fiction. However, many legal proceedings are public record, so it’s easier to discern the truth when it comes to legal matters.

We have written about many celebrity bankruptcies over the years. The good thing is (or the bad thing, I suppose) is that celebrities like to spend money and have financial troubles just like us regular folks. Celebrities are not immune to money woes, as evidenced by some of the struggles we’ve written about in the past. In addition, some of them keep on spending long after their celebrity has faded.

Some of the new celebrity filers include:

Aaron Carter—a singer that is a new member of the celebrity bankruptcy club.

Teri Polo—this actress filed bankruptcy over credit card debt and taxes.

Some favorites of the past include:
Burt Reynolds—1996. Horses, investments in restaurants and sports teams, and other fine times seemed to have contributed to his downfall.

M.C. Hammer—also filed in 1996. He celebrated with a crowd of many during his heyday.

Kim Basinger—1993. She apparently bought a town! Need we say more? Her bankruptcy caused a stir in the media too—here is a link to a letter her lawyer wrote to the New York Times. (The Times had written an article that they objected to.)

For some more old celebrity bankruptcy gossip on the SmithLaw blog, check out these posts:

Celebrity Bankruptcy and Foreclosure News

Legal Matters in the News

Attorney Christopher D. Smith, Sr. is designated a Board Certified Consumer Bankruptcy Lawyer by the American Board of Certification.  SmithLaw is located in Lakewood Ranch, Florida.  Attorney Smith concentrates on bankruptcy, civil litigation, probate, estate planning, and elder exploitation cases in the Sarasota and Bradenton area.  Call 941-202-2222 to learn more.  SmithLaw offers free consultations in certain areas, including consumer bankruptcy, probate, and personal injury matters.

Image: Some rights reserved by Keith Williamson

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