Even stars may need to file bankruptcy
Do you ever see celebrities on television and think their financial future must be secure? They have designer clothing and glamorous cars, and they seem to earn millions of dollars for their work. It’s easy to think they must be destined to a life of sitting by the pool and sipping cool beverages. But sometimes even celebrities need to file bankruptcy. No matter how successful someone appears, tough times can happen to anyone. And sometimes celebrities filed for bankruptcy before they became a household name.
Celebs who have filed bankruptcy
According to a TIME Entertainment article, these stars are among those who have filed for bankruptcy:
- Toni Braxton
- MC Hammer
- Burt Reynolds
- Larry King
- Cyndi Lauper
- Mike Tyson
- Gary Busey
This is only a partial list. And some of the celebrities, such as Cyndi Lauper, went on to success after filing bankruptcy.
This leads to another point: Just because you file bankruptcy does not mean your future is over. Indeed, in the right situation, bankruptcy can be a way to gain a fresh start.
Financial difficulties affect more than your bank account
A fresh start can be a very welcome thing. For anyone, financial difficulties can be very stressful. And when you’re stressed out about money, your health and relationships can suffer. An articlefrom the American Association for Marriage and Family Therapy discusses how financial strain can affect families and well-being. People can be emotionally impacted by financial difficulty. Their roles in the family can be changed. They may experience physical reactions, such as depression, grief, nausea and anxiety. They may lose important fixtures in their lives.
If you find yourself in financial difficulty, don’t feel embarrassed. Financial pressures can happen to anyone. Many people experience money issues. Just take steps to move forward. It’s worth it to your well-being to get your financial situation back on the right track.