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Famous People Who Have Filed for Bankruptcy Protection

As many people across the United States continue to experience financial distress in the face of a struggling economy, filing for bankruptcy is becoming a very real option for more and more people. Falling behind on student loan payments, mortgage payments, credit card payments, car payments and other types of debt can be scary, but filing for bankruptcy definitely isn’t the end of the world. In fact, there are plenty of famous people in the world who have filed for bankruptcy, discharged their debt, and still went on to be successful members of society. If you are considering filing for bankruptcy protection in Oklahoma, contact our experienced bankruptcy attorneys at Oklahoma Legal Center today. In the meantime, consider the following celebrities who have filed for bankruptcy in the past and benefited considerably from allowing themselves that fresh start.

Politicians That Have Filed For Bankruptcy

There are many politicians in American history who filed for bankruptcy, including the 18th U.S. president, Ulysses S. Grant, and our 25th president, William McKinley. Presidential nominee George McGovern and former Vice President Levi Morton are other famous politicians who have filed for bankruptcy. This illustrious list of American politicians is only one example of famous people filing for bankruptcy and getting the new lease on life that eliminating overwhelming debt allows.

Entertainers That Have Filed For Bankruptcy

Numerous well-known singers and actors have also filed for bankruptcy in the past, including Willie Nelson, George Jones, Tammy Wynette, Merle Haggard and Johnny Paycheck. Famous rockers that went bankrupt at one point include Toni Braxton, Tom Petty, Meat Loaf, Elton John, M C Hammer, David Cross and Ted Nugent. At the tail end of this long and surprising list of celebrities who filed for bankruptcy are Marvin Gaye, Jerry Lee Lewis, Chaka Khan and Andy Gibb. When it comes to actors, actresses and TV personalities who have sought bankruptcy protection in the past, you can add talk show host Larry King, Kim Basinger, Burt Reynolds, Gary Coleman and Mickey Rooney to the list.


You might be surprised to learn that Donald Trump has filed for bankruptcy in the past, as have the infamous Henry Ford and Walt Disney. Comic book writer Stan Lee also chose to file bankruptcy at one point, as did the founder of Heinz Ketchup, H.J. Heinz, and the founder of Hershey’s Chocolate, Milton Snavely Hershey.

Athletes That Have Filed For Bankruptcy

It’s easy to assume that successful athletes have no financial woes, what with all that celebrity and those big paychecks. However, a number of famous athletes have chosen to eliminate their debt through bankruptcy, including boxers Mike Tyson, Joe Lewis and Leon Spinks. Other athletes that have petitioned the courts for bankruptcy protection at some point include football player Johnny Unitas, Olympic gold medalist Dorothy Hamill, and professional tennis player Bjorn Borg.

Contact Our Bankruptcy Attorneys for Help

Look over this list of famous people who have taken control of their financial situation by seeking bankruptcy protection, and you’ll see that filing for bankruptcy doesn’t make you a failure. If you are struggling with debt problems and you think bankruptcy might be a good option for you, contact our knowledgeable bankruptcy attorneys at Oklahoma Legal Center to discuss your best course of action. Our law firm is located in Oklahoma City, and our attorneys have years of experience helping Oklahomans eliminate their debt and start with a blank slate. With the help of our skilled bankruptcy lawyers, you can research all possible bankruptcy options and begin the process of relieving your debt today.

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