Posted On: April 9, 2011

Four Stars Who Filed Bankruptcy

In this bad economy, you hear a lot of news about foreclosure and loss of jobs hitting the middle class. Yet, these days, even the rich celebrities are getting hit hard by the economy.

#1 Gary Coleman

Coleman was once one of the highest paid child stars in history. Despite this, he filed for bankruptcy in 1999, due to carelessly spending his money as well as his long, expensive medical bills. Coleman once even had to work as a security guard, which was a complete downgrade from his star status.

#2 Kim Basinger

In 1993, Basinger had to file for bankruptcy due to losing $8.1 in a lawsuit. Basinger ended up selling a $20 million dollar town investment to pay of some of her debt.

#3 Dorothy Hamill

Hamill, an Olympic champion, once owned the Ice Capades. After a few years, it ended up being a choice that she regretted after she had to file for bankruptcy in 1995 after selling the company.

#4 Marvin Gaye

After a fourteen year marriage ended with divorce, Gaye became bankrupt. Eventually, he gained the money back after marrying his second wife in the year 1977 and having a #1 hit, which made his profits soar.

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