Celebrities-Bankruptcy

Aaron Carter to Perform with the Real Backstreet Boys: the IRS

June 24, 2014

Aaron CarterAaron Carter, the teen sensation who won the hearts of many women back in his pop sensation days to the established solo artist, has officially released the life album of debt.

Carter owes an astounding $2 million and most of it stems from back when he was a child star. The Internal Revenue Service has exposed his largest summation of debt, a jaw dropping $1.3 million from when he was 16 years old. Continue reading…

Teri Polo Takes Her Turn in “Meet the Creditors”

Teri PoloJune 24, 2014

Teri Polo, also known as “Pam” from the movie Meet the Parents and its successors, has gotten herself into a bit of trouble, and not with her betrothed’s parents, but her real life overseers, the IRS and miscellaneous entities.

Polo is currently filing a Chapter 11 Bankruptcy, as of April, which has revealed that she has racked up quite the expense, nearing a total of one million dollars. Continue reading…

Burt Reynolds – Foreclosure – Is Reynolds the Bandit?

June 24, 2014

Recently, the Bank’s are holding Burt’s feet to the fire to find out what he did with the mortgage money given to him for his home in Indian River Lagoon in Florida.Burt Reynolds

The creditors are seeking to collect $1.2 million.   Reynolds had not only borrowed money for the mortgage but also a line of credit of $750,000. Continue reading…

Superstar Lawyers Go Bankrupt, Too…..

February 12, 2014

There has been the stigma that lawyers make lots of money and have great financial success.   However, law school applications are soaring downward and you might wonder why.

Superstar Attorneys

Superstar Attorneys

As many law firms are facing economic pressures, they are changing their “arrangements” with employees and partners.

An attorney can be a full-equity partner in a firm where he shares the profits.  However, if that firm has a downturn, they can lose their job or maybe even worse be demoted to a non-equity or “service” partner.    Basically a service partner is nothing more than an employee who typically has no clients and does the work for the alpha male/female, high-flying “rainmaker”. Continue reading…

78% of NFL Players Bankrupt

I ran across an interesting statistic. According to Sports Illustrated, approximately two years after retirement, NFLthe percent of NFL players bankrupt or financially stressed is a whopping 78 percent. This means more than 3/4 of players either can’t manage their money, or have people “in their corner” who choose not to manage their money well.

Then there are always those people who didn’t have much money early in life, then come across a small fortune, and go a bit wild when they do. Continue reading…

Winds of Change Can Bring Us to a Better Place

December 12, 2013

At times all of us:  have been rejected, have made mistakes, have not been accepted for a position, had financial problems, etc.

You must keep moving forward and don’t give up with your long-term visions or plans for your life.

I have heard many say:  “I’m too far in debt so I just keep spending and charging – what is another $100 when I owe $70,000 to my creditors”.     The debt gets larger and larger until they make a change to do something to turn their lives around. Continue reading…

Bankruptcy Filing – Honesty and Integrity

I’m sure many of you have read or heard about Teresa and Joe Giudice, co-stars of the reality show Real Housewives of New Jersey.

Their Chapter 7 Bankruptcy filing in New Jersey has hit the media and also the Government and taken front stage.

They are being charged among other items – Bankruptcy Fraud. Continue reading…

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