There’s an old saying that it’s easy to make a million dollars in the music business, but it’s hard to hold on to one dollar. These country stars found that out the hard way when they ended up having to declare bankruptcy.
Which Country Stars Have Declared Bankruptcy?
The country singers who have gone bankrupt include some all-time legends.
Willie Nelson‘s money troubles in the early ’90s have been well-documented; the IRS seized and auctioned off many of his assets, and he ended up recording an album that he admitted was purely to pay off his debts.
He’s not the only legend to go broke. Several of the country stars on our list had decades-long careers that earned them big money, but wound up with little to show for it.
What Are the Reasons Country Stars Have Gone Bankrupt?
Many of the country stars who have declared bankruptcy did so because of poor advice from financial advisors.
READ MORE: The Most Shocking Lawsuits in Country Music
Investments that went bad are another reason, while some country stars suffered career setbacks that altered their finances.
Disputes with a manager or other business associates also drove some of these stars into bankruptcy, and let’s face it, some people just aren’t that good at handling money.
Just because you hand someone a big chunk of cash, that doesn’t mean they know what to do with it, as some country stars found out first-hand.
Scroll through the pictures below to see which country stars have gone bankrupt over the years.
PICTURES: Country Stars Who Went Bankrupt
There’s an old saying that it’s easy to make a million dollars in the music business, but it’s hard to hold on to one dollar.These country stars found that out the hard way when they ended up going bankrupt.
Gallery Credit: Sterling Whitaker
See the Most Played Country Song from the Year You Were Born
Who had the most played country song during the year you were born? This list is a fascinating time capsule of prevalent trends from every decade in American history. Scroll through to find your birth year and then click to listen. Some of these songs have been lost through the years, many of them for good reason!
Gallery Credit: Billy Dukes