From Banked to Broke – Celebrity Bankruptcies


Bankruptcy-300x214“Money makes the world go round” isa worldwide famous sentence that very people believe. In fact it is also believed that money gives birth to wickedness. But above these all the universal truth is money is the most essential part of our lives and without it life actually becomes hell.

To most of people who think that money, especially liquid money or cash is imperative take the greatest care of their finances and they know how to live life with necessities but luxuries. But these I true for the keyword “people” rather “common people”.

If you look around you will find out some people who we generally do not count as common people or public but as “celebrities”. Money is like the hand’s dust for them. Spending hundreds of dollars are no big deal for them. Their flow of spending creates a huge inequity with majority that is very harmful for the society in a facet.

However, at the same time there are loads of such examples where such big starts’ spending habit has ruined their lives. Actually it hardly matters how disparate we are from each other from all sides like background, income level, habits, lifestyle etc the precision is unless and until we learn to use money properly and with controlwe are leaped to get bankrupted at some point of time in life. There are number instances of world famous celebrities who got bankrupted because of ruthless driving of their money car.

Let us get a look at those celebrities whose life became insolvent after treating money as water.

  • Lindsey Lohan: Lindsey Lohan the dream girl of Hollywood industry. For a long period of time she literally ruled over Hollywood and gifted classic films like the“Mean Girls”. She was treated as the princess of Hollywood however her desperate life and reckless partying habit did not take much time to destroy her career financially.  By time it was getting tough for her to lead life and work hard with reputation.  This entire situation gradually led her life to bankruptcy in the year 2012. While before bankruptcy her estimated worth was nearly 7.5 million pound till 2006, after the hitch it shrunk down to 6500 pounds. After a long time her appearance in Playboy Magazine and the movie Scary Movie 5 helped her lot to lessen the debt yet is still not cleared completely.
  •  Kerry Katona: The “Atomic Kitten” girl treated the world as if at her feet. She was a world prominent singer. Apart from singing she became the facade of the food shop Iceland and also wrote editorial for OK Magazine. It is said that her bankruptcy is not her fault in all rather her ex-husband led her to that situation. His reckless spending soon made the banks to knock her door. In that situation she owed about 417000 pounds. The Celebrity Big Brother came out as a solution and helped her to clear a lot of the debt. 
  • Willie Nelso: The legendary singer, actor, poet was born to break the rules. According to him taxes are not for them and this thought led him to bankruptcy. His dedication to work helped him to comeout of the situation.

The author is a Finance copy writer, Loan and Investment specialist. To know more about fast cash loan’s in Sydney please visit


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