In recent months, a number of celebrities have faced financial problems, such as overwhelming debt, as evidenced by their recent tax troubles.
For example, rapper Young Buck and actress Teri Polo recently had tax liens put against their estates due to missed income tax payments. Both cited their own personal struggles in their respective fields with finding work to pay the bills. This shortage of funds may result from overspending during their prime earning years, and as a result, they are now facing harsh consequences.
Val Kilmer, Nas and Wesley Snipes have all also been struggling with the IRS, SmartMoney reports. Some celebrities such as Dr. Arnie Klein, a famous Beverly Hills doctor who treated celebrity clients such Michael Jackson, have even filed bankruptcy due to their debt.
As a result, consumers who face troubles relating to high credit card bills should seek the advice of a credit counselor, as these professionals can work with them to develop financial plans that can help alleviate their debt.