It’s always fascinating to see these huge paychecks that celebrities receive. Hundreds of thousands of dollars or multi million-dollar movie or athletic contracts, sound like a dream to the average person. But, they buy the house or houses, cars, pools, yachts, everything extravagant. What’s even more mind-boggling is how they end up with all this debt that they can’t pay off and wind up filing bankruptcy. And some of these celebs file bankruptcy not once, but twice?!?!
I don’t even know how that happens, but there is so much to learn about handling finances from all of these celebs. Here’s 15 Bankrupt Celebs.
We remember MC Hammer and his flashy dance moves thrusting while wearing his signature hammer pants to the hit songs, U Can’t Touch This and 2 legit 2 Quit. But, it’s no secret that Hammer had his fair share of money and legal issues. He filed bankruptcy in 1996 for being $13 million in debt. But, in 2014 Hammer reportedly owed the IRS over $1.4 million in back taxes from 1996 and 1997.