There were rumors going around that reality star New Jersey Housewife Theresa Giudice and her husband Joe recently filed for bankruptcy. But now it’s official.
MSNBC reported that the couple filed for Chapter 7 in the Newark Bankruptcy court to dig themselves out of debt. The bankruptcy papers listed that the couple owes almost $11 million [...]

Chef Gordon Ramsay is accustomed to ordering around his underlings and setting faltering restaurateurs on the path to better business.
Recently, though, his company has had to face the same hardships as so many companies across the world have, battling the recession and downturned markets. Those hardships could easily have been folded up and packed away [...]

Football star Michael Vick will star in an 8-part reality series next year, in which the Philadelphia Eagles quarterback will discuss his dog fighting conviction, bankruptcy and other issues, according to the Associated Press.
The series, which will air on cable network BET, will be part reality series and part documentary. Vick began working on the [...]

Famed photographer Annie Leibovitz risked losing decades of her work in a debt lawsuit after defaulting on a $24 million loan from the Art Capital Group. The two parties reached an agreement today that allows Leibovitz to retain her photography while defining new terms to the loan, the New York Times reports.
Art Capital filed a [...]

It’s easy to idolize the lifestyles of the rich and famous. However, those who ascend to great heights are still human, and need to turn to bankruptcy protection for a clean financial start. Let’s take a look at 10 celebrities whose bankruptcies shocked the world—and still do.