Facing bankruptcy may make you feel stigmatized, as though everyone is judging you for your financial “failure.” The truth is you have a lot of company, including folks you probably assume would never have to worry about money. The following are just a few famous people who are dealing with bankruptcy in 2013:
Sinbad, long considered a very successful comedian and television performer, recently filed for bankruptcy — for the second time, in fact. He estimates he is $11 million in debt, mostly due to owing back taxes.
Kelly Rutherford, a television actress who has starred in two major series, filed for bankruptcy in June 2013. The cause of her financial woes is reportedly a costly custody battle following her high-profile divorce. She claims she has spent $1.5 million in attorney fees alone.
Singing legend Dionne Warwick filed for bankruptcy in July. The multi-award-winning performer owes more than $10 million in back taxes and claims to only have $10 left after paying all of her bills each month.
The saddest recent case of bankruptcy is that of actor Paul Bhattacharjee. A former British television star who made a successful transition to Hollywood movies such as Casino Royale, Bhattacharjee was declared bankrupt the day before he disappeared from a theater in London. His body was recently found at the foot of a cliff, from which he apparently jumped to his death.
If you are feeling despair at the thought of facing bankruptcy, take comfort that you are not alone. Even people with seemingly outsized incomes and high-profile success wind up in financial straits, often due to circumstances beyond their control. Remember that bankruptcy is a means to recovery, not a declaration of failure.