There is a notion that celebrities are so loaded that they can just spend any amount without giving it much thought. Some stars' net worth is so high that they can afford just about anything! Yet some stars have reached too close to the sun only to crash and lose it all. Which stars needed to refinance their mortgage and use online grocery shopping coupons only to make it through the month? You would be shocked where some of these once-successful stars ended.

Tyler Perry - Failed Theatrical Production Led Him to Bankruptcy

Tyler Perry used to be one of the highest paid men at one point during his fruitful career. He is a well-known name in the entertainment industry to this date. However, this New Orleans actor-filmmaker had hit rock bottom which led him to bankruptcy. Perry produced a theatrical piece that ended up being a complete disaster. The failed production cost him more than just his reputation. Fortunately, he didn’t need to hire a bankruptcy lawyer and he managed to get up after his fall.

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Lena Headey - Bankrupt Due to Divorce & Custody Battle

Lena Headey is a famous British actress born in Yorkshire. Currently, we enjoy watching here on the mega popular TV-show, Game of Thrones. It is hard to believe that anyone who is a cast member of the Game of Thrones can have financial issues, but Lena does. She recently went through a pricey divorce and to pay off her debts, she was forced to place her home for sale. She will be back on track soon, especially if she'd let refinance mortgage help her.

Steven Baldwin - Mortgage, Tax, & Credit Card Debts

The Usual Suspects actor Steven Baldwin used to be one of the well-paid Hollywood stars. However, his financial planner found serious financial issues at one point, so the actor realized it was time for him to file for Chapter 7 back in 2009. Steven owed more than $2 million in taxes and mortgages. Even though it was a tough time, Steven managed to pay his debts and is now back on track.

Vanilla Ice - Loans & Legal Issues

We all remember that mega hit Ice, Ice Baby that was released in 1990. The man behind the song is Vanilla Ice or Robert Matthew Van Winkle. After the initial success of the song, the singer started to live a luxurious lifestyle. But then, he didn’t pay a visit to financial advisory firms in time, and his bank account was depleted. He faced some legal issues that led to him going completely broke.

Kim Basinger - Bank Account-Depleting Litigation

Kim Basinger is one of the most recognizable names in Hollywood. She was at her peak during the '90s and she appeared in many popular movies, including Batman, Cellular, and L.A. Confidential for which she won acting awards. She made a huge financial mistake when she wanted to get out of a movie contract. That mistake cost her $8.1 million after she was sued and the court ruled against her. There was no other option for her but to file for bankruptcy, but this was a while ago and Kim had successfully bounced back.

Chris Tucker - Tax Debts

Celebrities earn a lot of money, and doing taxes can be a bit tricky for them. One of the famous celebs who "forgot" to pay his taxes is Chris Tucker. Chris used to be among the highest paid actors in the industry, but his tax debt left him almost penniless. Unfortunately, Chris didn’t have a good financial advisor so his debt had accumulated to more than $11 million in tax money.

Margot Kidder - Illness

Margot Kidder is a famous Canadian actress best known as the first Lois Lane from the ultra-popular Superman movie. The actress went through health issues which started when she was diagnosed as bipolar. Her condition wasn’t improving, so her paranoid state led her to forget about her monetary obligations. Her illness left her almost completely broke. After rehabilitation, Margot got back on track, to the relief of her fans and supporters.

Natasha Lyonne - Drugs & Legal Issues

We all remember Natasha as a part of the American Pie comedy movie cast. At the time, Natasha was enjoying a luxurious lifestyle since the film brought a huge income. However, after her initial success, she faced her addiction and was ready for alcohol drug rehab. The money was gone and she was one step away from bankruptcy. Besides being a drug addict, Natasha also faced serious legal issues.

Don Johnson - Bankrupt Due to Failed Business

Don Johnson is best known as Det. Sonny Crockett on the hit TV series Miami Vice that premiered in 1984. Even though his bank account was loaded with money earned from the tv show, the actor filed for bankruptcy as many as four times. He really should consider hiring a good financial advisor, before it's too late. At the moment, he doesn’t need a bankruptcy lawyer, since his daughter has been very helpful.

Lindsay Lohan - Drug Rehab Debts

Lindsay Lohan used to be the idol of many young girls ever since she appeared on the big screen as a child. However, when she was in her teenage years, her extreme party life which included a lot of drugs and alcohol sent her straight to drug rehab. That cost an enormous amount of money, so her bank account suffered quite a bit. Lindsay still faces financial issues and her debt stands at around $600,000.

Heidi Montag & Spencer Pratt - Bank Account Apocalypse

Heidi Montag and Spencer Pratt used to be our favorite reality TV couple when they were seen on the popular TV show, The Hills. They made great money with their public romance. However, their financial advisor (or the lack of one) failed to warn them, and they went on a spending spree in 2012. They believed in the "Mayan prediction" about the end of the world and spent everything. Perhaps mortgage refinance is their best option right now.

Corey Haim - Bankrupt Due to Drug Addiction

Corey Haim was a Canadian actor best known for his roles in some '80s movies like The Lost Boys and License to Drive. However, Corey dealt with his drug addiction for many years which led him to die of a prescription drugs overdose. After his funeral, people were shocked to learn that Corey was heavily in debt due to his addiction.

Lorraine Bracco - Bankrupt Due to $2 Million Custody Battle

Many celebrities here on the list faced pricey divorces and even pricier custody battles. One of those celebrities is Lorraine Bracco who is best known for her role on the popular TV show, The Sopranos. Even though the show brought her a significant income, the custody battle following her divorce left her almost penniless. At the time, she needed a good bankruptcy lawyer to help her out and stand on her feet.

Heidi Fleiss - Tax Evasion & Money Laundering

Heidi Fleiss used to run a successful escort business under the lights of Hollywood. However, after the initial success of her business, she faced great financial issues and massive debts which left her no choice but to file for Chapter 7. Due to legal issues and money laundering charges, Heidi had to spend twenty-one months in prison. After she was released, she reopened her business, but legally this time.

Dennis Rodman - Alimony Debts

Dennis Rodman is one of the greatest NBA superstars. At the peak of his career, his bank account was loaded so it is surprising that he accumulated a substantial debt of more than $800K in alimony money. He also has a debt of around $50K in spousal support. He is probably a proper candidate for refinancing a mortgage, but it is a shame to see him on this list since he used to be among the highest paid NBA players. Needless to say, his luxurious spending invariably leads him into trouble.

Rihanna - Bad Financial Advisor

It may be surprising to see Rihanna's name on this list. It should be noted that she was never bankrupt, but due to some misjudgments by her financial planner, she faced quite significant financial issues. At one point, she had only $2 million left in her bank accounts. She decided to take the case to court and sue her accountant. In the end, she received $10 million in damages. Today, she has no debts, and she has hired a better advisor as well.

Lauryn Hill - Tax Evasion

Lauryn Hill knows what debts and financial issues can do to a person. She also knows that if you don't pay your taxes, you can end up in prison. Even though her bank account was filled with cash, her tax debts rapidly accumulated, so she faced jail time. She is viewed as a high spender, but she should consider finding a better financial planner so she won't get into such financial issues again.

Leif Garett - Drugs

Leif Garret is one of those celebrities who have spent most of their adult life on the big screen. Leif has been in the industry since his teenage years, so he earned quite a bit of cash. However, he used to live a reckless life while being prone to using heavy drugs. His lifestyle led him to alcohol and drug rehab centers on many occasions. His addiction cost him more than just his reputation, as he was reported to be completely broke.

Toni Braxton - Bankrupt Due to Debts

Toni Braxton has been in the music industry for many years, and we all know her greatest hits like Unbreak My Heart which will go down in history as one of the great classics. Due to her great success, her bank account used to be in excellent standing. However, she is known as a huge spender, so her debts climbed up to more than $50 million. She even filed for bankruptcy twice, and her account was completely depleted at one point.

Michael Jackson - Neverland Ranch Mortgage

Michael Jackson was a true legend in his heydays (and until today), and he was one of the richest people in the industry. However, the loans that he had taken to build his Neverland Ranch eventually brought him to one step away from bankruptcy. His loan was worth $25 million, and only $2 million of it was settled. He missed his mortgage payments three times and had to give up his dream of owning the Neverland Ranch.

Burt Reynolds - Costly Divorce

Burt Reynolds is another well-known name in Hollywood. He has starred in many movies, including Smokey and the Bandit and The Longest Yard. During his career, he has earned a g income, but his costly divorce settlement and high alimony led him very close to bankruptcy. Burt stated that his financial advisor (a.k.a. accountant) took $1 million from him which is almost nothing compared to his net worth. But still, with such fees, the advisor could have done a better job.

Teresa Giudice - Bankrupt & Imprisoned

Teresa Giudice is a reality superstar who appeared in the popular TV show, Housewives of New Jersey. Although the show was a great success and earned her a lot of money, after her estate was taken away from her, she was left with nothing. Later, she turned to loans which resulted in even more debts. Her luxurious lifestyle left her no choice but to file for bankruptcy. Teresa also served prison time due to her accumulated tax debts.

Donald Trump - 4x Bankrupt Due to Business Debts

You may be surprised to see the current American president appear on this list. Donald Trump filed for Chapter 7 four times! He has faced money difficulties just like many other real estate businessmen. He owns major corporations and a real estate business, so he has several financial advisors who take care of his money. Hopefully, he won’t lead the US economy toward the same fate (of bankruptcy).

Dorothy Hamill - Purchase of Already Bankrupt Ice Capades

Dorothy Hamill used to be one of the most successful athletes of her day. At the peak of her career, her net worth was quite huge and she could afford to make some of her dreams come true. She decided to purchase and rescue the Ice Capades ice skating group. The group was one step away from bankruptcy when she bought them. This wasn’t a wise financial decision, and she had no recourse but to file for bankruptcy back in 1994 as the group was not able to recoup what was invested.

Sinbad - Bankrupt Due to Indebtedness

We are all aware of the fact that financial management is a stressful task and many people face a lot of money issues. In Sinbad’s case, it got complicated on two occasions so he was forced to file for Chapter 7 not once but twice. His debt accumulated to more than $11 million which is more than he had in his bank account. With the help of a bankruptcy lawyer, we hope Sinbad was able to recover from his financial crisis.

Nicolas Cage - Splurging on Luxury Cars, Yachts, and Estates & Having Tax Issues

All celebrities are aware that income can come quickly, but that it can be spent just as fast. Nicolas Cage is one great proof that luxurious lifestyle can lead to bankruptcy no matter how wealthy you are. Even though the actor was once loaded, his spending spree that included luxury cars, yachts, and real estate brought him to a state of indebtedness of over $14 million. His financial issues were so deep that it resulted in the foreclosure of some of his estates.

"Sugar Ray" Williams - Bankrupt Due to Debts & Real Estate Rip-Off

Sugar Ray Williams was proof that not even famous NBA personalities are immune to financial issues. Sugar Ray was a very well-known name in the NBA, and during his career, he had accumulated enormous income. However, his luxurious lifestyle and occasional loans left him no choice but to file for bankruptcy. Unfortunately, he was also a victim of a real estate fraud when he took his retirement pension and moved to Florida.

Barbara Payton - Carelessness & Neglect

Barbara Payton was one of the most recognizable actresses in Hollywood. She was truly outstanding when she first appeared onscreen, and everyone was simply blown away by her beauty and acting talent. However, she lived a promiscuous lifestyle that involved numerous stints in alcohol and drug rehab. Shortly before her death, it was discovered that the actress was involved in a check fraud which destroyed her reputation.

Willie Aames - Bankrupt Due to Debts

Willie Aames knows perfectly that you shouldn’t spend more than you can afford. He's also aware that great sitcoms pay some big bucks since he was a part of popular shows like Eight Is Enough and Charles in Charge. For him, the money went just as fast as it came, and his debts increased exponentially. He had no choice but to file for Chapter 7 since his home was foreclosed and he had no new money coming in.

Eric Williams - Costly Divorce

Eric Williams used to be one of the highest paid NBA players at the peak of his career. He once was living a great life of fame and fortune, and his wealth was quite extensive. He used to be happily married as well until his wife filed for a divorce. That costly divorce left Eric almost penniless. Court fees of his divorce settlement ultimately destroyed him financially, and his debt kept rising by the day. We hope that Eric has bounced back and is doing better both financially and emotionally.

Courtney Love - Bankrupt Due to Drug Addiction & Wild Lifestyle

Courtney Love has been dragged through the media due to her controversial behavior and odd public appearances. Even though her husband Curt Cobain died many years ago, she still regularly appears in media. She is known as a drug addict, so on several occasions, she was seen at alcohol and drug rehab facilities. Well, it is fair to say that she has been through it all, including addiction, fame, and bankruptcy.

Lady Gaga - Bankrupt Due to Monster's Ball Tour & Stage Outfits

Lady Gaga is one of the most controversial celebrities in the industry. We are all familiar with her outrageous stage appearances that involve pricey costumes and extraordinary performances. In one interview, she revealed that her costume for the Monster’s Ball tour cost her to have a debt of more than $1 million. At the time, she was not aware of how serious the debt was. Fortunately for her, she does not have such issues today as her career has brought in an almost infinite amount of money.

50 Cent - Lawsuit

50 Cent is one of the most popular rappers of our time, so at the peak of his career, his wealth had climbed to astronomical heights. However, after a racy tape incident, he was sued by the audio company, Sleek Audio. At that time, his financial and legal troubles had only just begun, and eventually, his legal troubles left him next to broke. He agreed to pay the audio company $23 million over the following years, and he has now climbed back out of the hole.

Brendan Fraser - Bankrupt Due to Child Support & Other Expenses

Divorces are harsh both in emotional and financial terms. For Brendan, his divorce was rough in financial terms, and despite his large income, the actor was left with no choice but to file for Chapter 7 due to divorce settlement expenses. His divorce has significantly impacted him both emotionally and financially, so today, he should carefully consider getting a financial planner to avoid future money issues.

Mike Tyson - Bankrupt Due to Lavish Lifestyle

Mike Tyson used to be a boxing champion and among the highest paid athletes of all time. There is no surprise that during his active boxing career, he has earned more than $400 million. However, the sad truth is that everything that he has received over the past two decades is gone. His alimony and tax debts accumulated which led him to file for bankruptcy. Today he tries to manage his finances better.

Kelis - Depleted Bank Account Because of Divorce

By now, we all realize that divorce settlements can be very pricey, especially in the case of celebrities. Kelis has not been very fortunate with her divorce settlement, and when she divorced her husband Nas, she was one step away from bankruptcy. At the time, her bank account was depleted, so she had to depend on child support money for her day-to-day expenses.

R. Kelly - Mortgage Debt

R. Kelly faced legal charges involving a minor which placed him in prison. His legal issues also included a massive debt, so he had to figure out how to pay it. There was a huge mortgage debt on his luxurious mansion which he purchased in 1997. He paid more than $3 million for the mansion, but the bank took it away from him and sold it at a price of $950,000. Maybe refinance mortgage could have helped him get out of trouble.

Tori Spelling - Rental Debt

Tori Spelling and her husband McDermott used to live in a rental estate property. This Hollywood power couple faced great financial difficulties that led them to get kicked out of their luxurious rental property since they couldn’t afford to pay rent on time. Their debts accumulated and the landlord had no choice but to kick them out. Next time, they should be more careful in getting the right financial planner.

Jose Canseco - Bankrupt Due to Taxes And Other Liabilities

Joe Canseco is a mega popular MLB player, and during his active career, he accumulated considerable wealth. However, he didn’t check his bank account often enough, and he soon realized that he was in a huge debt of $2 million in liabilities. He didn’t have any other choice but to file for Chapter 7. At the time, he had only $21,000 in his bank account which was far less than the amount he owed.

Larry King - Bankrupt Due to Indebtedness

Larry King faced some pretty major financial difficulties back in the '70s. His debt accumulated to more than $300,000 in liabilities and he could not get a loan big enough to help him at that time. As a result, he had to file for bankruptcy. Fortunately, his famous radio gig which later turned into his show brought large sums of money to pull him out of trouble and increase his spending power. His debts were wiped out in no time.