I’m a celebrity, get me out of debt!

12. June 2011 · Write a comment · Categories: Gambling · Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

As reported in the Herald newspaper recently, up to 500,000 Scottish residents owe more than 15k in personal debt.

Today it was announced that the USA international footballer Brad Friedel is fighting a £5m bankruptcy order in his native country.

Last year in 2010, the former Scottish internationalist Colin Hendry was forced to declare himself bankrupt owing an estimated £2.2m to his creditors, attributed largely to gambling debts.

In 2008, Kerry Katona, recently of Dancing on Ice was declared bankrupt , owing more than £400k in unpaid taxpayers.

One of the most famous Scottish debt cases of all time is that of Sir Walter Scott who signed up to a Trust Deed in 1826, although this has lately been preceded with the current government legislation which came into effect in 1985.

George Best, MC Hammer, Mike Tyson, Walt Disney and Ray Winstone are among a list of other celebrities past and present who had also at some point in the past also run into financial difficulties.

Bankruptcy and fame seem to go hand in hand for a select few celebrities, much like in the real world, people’s circumstances can change out with their control.

If you are struggling with debt and you owe money to your creditors which you feel is beyond your control, it is important that you seek help from a professional. There are free and impartial services that can help you such as the debt charity CCCS.

People from all walks of like can find themselves with debt problems and if you owe more than £10,000 to unsecured debts like credit cards and loans then you can also look at Trust Deeds as an option, which enable you to write off up to 90% of your debt using government legislation and more importantly allow you to rebuild your life again.

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