Celebrity bankruptcy has become so common that many now hire financial advisors to keep an eye on their bank accounts and stop them from overindulging on wild extravagances and unworkable business ventures. Nobody, no matter how famous or rich, is immune to the perils of debt. In that way the celebs are just like the rest of us, but they’re playing with much higher stakes.

Donald Trump: billionaire entrepreneur
Trump, currently worth approximately $3 billion, has certainly had his fair share of financial disasters. In 1992 the three casinos he then owned - the Taj Mahal, Castle and Plaza - went bankrupt, burdened by more than $1 billion in debt following the 1990-91 recession. But he climbed back from the brink of personal bankruptcy and chronicled his return to billionaire status in the 1997 book ‘Trump: The Art of the Comeback.’ Trump's casino empire went bankrupt again in 2004.

Meat Loaf: rock star
Meat Loaf spawned some of the largest selling albums of all time, but things turned nasty for him when, in 1981, he changed managers after discovering that his were stealing his money. They had all of Meat Loaf’s assets frozen and sued him for breach of contract. They also spread rumours that he was violent and had threatened people with guns, and a battle-worn Meat Loaf ended up declaring bankruptcy. In 1986, Meat Loaf found a new writer, John Parr, and started recording a new album. Unfortunately, the producer put a dance beat underneath every song, which proved to be a huge mistake, and Meat Loaf ended up going bankrupt for a second time.

Anna Nicole Smith: Model/Actress and 1993 Playboy magazine ‘Playmate of the Year’
Tragic Anna Nicole Smith entered the limelight in 1994 when, at the age of 26, she married 89-year-old oil business executive and billionaire J Howard Marshall. In 1996, Smith filed for bankruptcy in California as a result of a $850,000 judgment against her for sexual harassment of an employee. The former model died from a drug overdose in February 2007, five months after the death of her son Daniel, aged 20, who had also overdosed on drugs.

M.C. Hammer rock star
M.C. Hammer of parachute pants and ‘Hammertime’ fame filed for personal bankruptcy in April 1996 as a result of dwindling album sales and a lavish lifestyle. He was $13 million in debt. After this rapid fall from grace, MC Hammer spent most of the late 1990s as a punch line in the music business. Nelly, in his year 2000 breakthrough hit ‘Country Grammar’, announced his intention to ‘blow 30 mill like I'm Hammer’

George Best: Manchester United Footballer
Manchester United football legend George Best will always be remembered for his dazzling skill on the pitch, but it was the accompanying champagne and playboy lifestyle which ultimately led him to an early grave. Best’s partying and decadence degenerated tragically into alcoholism, bankruptcy, a prison sentence and, eventually, a liver transplant. Following his death in November 2005 the News of the World published a picture of Best at his own request, showing him in his hospital bed, along with what was reported to be his final message: ‘Don't die like me’.

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