Famous People Who Filed Bankruptcy

Here are just a few:

  • Burt Reynolds: He filed for bankruptcy in the 1990s after his divorce; he was $10 million in debt at the time.
  • Toni Braxton: She has declared bankruptcy not once, but twice, most recently in 2010.
  • Willie Nelson: He owed the IRS more than $16.7 million when he filed for bankruptcy in 1990.
  • LaToya Jackson: She got into debt thanks to her failed music career, and declared bankruptcy in 1995.
  • Larry King: He filed for bankruptcy in 1978, when he was $350,000 in debt, before making it big on CNN.
  • Cyndi Lauper: After her group disbanded and she was sued by her manager, she filed for bankruptcy in 1981, but then her solo career took off.
  • MC Hammer: He was more than $13.7 million in debt when he filed for bankruptcy in 1996.
  • Kim Basinger: She had to file for bankruptcy after pulling out of a movie and owing the studio $8.1 million in damages.