The middle class aren’t the only people struggling to make it through this recession, even the celebs are struggling. Today, Stephen Baldwin, Mr. Born-Again-Christian and part of the infamous Baldwin clan, has filed for bankruptcy. Apparently not even his short stay on “I’m a Celebrity, Get Me Out Of Here” could save his financial situation.
Not too long ago there were rumors circulating that Stephen Baldwin was having financial troubles and was considering selling his million-dollar home. Of course, in classic celebrity style, Baldwin shot down those rumors with some story about simply refinancing to get a better deal while rates were good.
It’s funny, because it was as I was driving to work that I heard him on the radio denying every rumor about his financial situation. But debt and bankruptcy is no laughing matter, even for a celebrity, and it can be incredibly difficult and a little embarrassing to talk about.
But the truth of the matter is that bankruptcy and debt are two things that everyone is dealing with right now, so seeing a celebrity have to go down the same path that you may be walking down should assure you that times are hard for everyone.
Court documents show that Stephen Baldwin and his wife owe more than $700,000 in credit card debt, on top of millions for taxes and mortgages. Perhaps you should be feeling lucky that you’re not in debt that deeply.
Even the infamous Victoria Gotti is deeply in debt. Annie Leibovitz, famous photographer to the stars, is $715,000 in debt as well. The list goes on and on. What does this say about our lives and our economy? It says that the recession is hitting everyone, and you better learn how to limit your spending, even if you’re a celebrity.
For more information about debt settlement, visit http://www.thedebtsettlementprogram.com.
Wednesday, July 22, 2009
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