How they made their millions.....and lost it
14th December 2011
It may seem like celebrities have it all at times, with numerous fast cars and eccentric showbiz parties representing a lifestyle of luxury. However, it all comes at a price.
Whilst you may be feeling glum about the state of your personal finances, you are not alone. Everyone, including celebrities, can see their incomes take a hit and their finances dive in general. Income protection insurance is typically designed to provide a monthly tax free income in case of illness or disability.
Kerry Katona
Love her or hate her, Kerry Katona is a household name in the UK. She famously made her cash from being one of the original members of girl band Atomic Kitten. Since then she has had a spell of very public marriages and breakups, along with a string of TV shows, adverts and autobiographies.
The mum of four, and reality TV star, also famously spent all her hard earned cash on lavish gifts for her former husband and drug abuse problem. She was declared bankrupt in August 2008 when she failed to pay the remainder of her £417,000 tax bill. She has since cleared her debts and is no longer bankrupt as of last month.
Jonathan Aitken
The Former First Sectary to the Treasury, Mr Aitken was declared bankrupt in 1999 following the collapse of a liable case involving the Guardian newspaper. This left him with £2 million worth of debt and an 18 month prison sentence following a charge of perjury. Debt collectors took his Rolex watch and cufflinks, among other possessions.
Michael Barrymore
Funny man Michael Barrymore wasn’t laughing when he was declared bankrupt in 2004 after being hit with a tax bill for £1.4 million. The comedian and TV personality, who used to earn £1 million a year, had to call in auctioneers to value the contents of his home after he had two years worth of tax bills to pay.
- Unemployment hits 17 year high
- Five ways to make some extra cash this Christmas
- How they made their millions.....and lost it
- Five ways to tell if you hate Christmas
- 5 excuses given for calling in sick
- 5 online tools to boost your personal finances
- How to save money as inflation rises
- Rising unemployment leads many to consider benefits of income protection
- Five of the most expensive schools in the UK
- TUC predicts female jobless rise
- Mortgage warning to bank customers
- RAF workers face redundancy threat
- Cuts 'leave more women unemployed'
- TJ Hughes staff hit by job cuts
- NI confirms jobs for NOTW staff
- News Archive
