71 Celebrities Who Went Broke & Couldn’t Pay Back Their Loans & Mortgage Rates

#56. Meat Loaf

The musician filed for bankruptcy in 1983, after a series of bad business deals and legal issues. Meat Loaf is currently performing on his world “Last at Bat” farewell concert tour.

#57. MC Hammer

It wasn’t Hammer time for the singer when he had to file for bankruptcy in 1996. He told the court he was $13.7 million in debt and only had $9.6 million in assets. In another setback, MC was arrested for investigation of obstructing an officer in Dublin, C.A., but the star later tweeted that all charges have beene dropped.

#58. Lenny Dykstra

As he faced an impending divorce, foreclosure on his mansion and a multitude of lawsuits, this former Mets baseball star filed for Chapter 11 bankruptcy protection in California in 2009. Incredibly, however, Dykstra, who once was worth about $58 million, claimed it wasn’t bankruptcy at all but merely “reorganization.”

#59. Sonja Morgan

The Real Housewives of New Jersey star filed for bankruptcy protection in Manhattan in Nov. 2010, according to the Wall Street Journal. She listed $19.8 million in debt and $13.5 million in assets on her bankruptcy petition.

#60. Francis Ford Coppola

After the famed director’s 1982 musical One From the Heart tanked, he began bankruptcy proceedings. Luckily for Coppola, he was able to borrow money from his mom to go into the wine business and it became a huge success.

71 Celebrities Who Went Broke & Couldn’t Pay Back Their Loans & Mortgage Rates

#56. Meat Loaf

#57. MC Hammer

#58. Lenny Dykstra

#59. Sonja Morgan

#60. Francis Ford Coppola

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