by Chris Puleo

In the wake of this financial crisis, we're reminded that even celebrities—who make millions—have a tough time paying the bills. Apparently the stars are no better than us at balancing their checkbooks! Some, like MC Hammer, blew their fortunes with extravagant spending, while others, like Lorraine Bracco, found themselves in unexpected situations. And then there are the celebrities who declared bankruptcy before they made it big, proving that there is life after money troubles. With the economy in such an uneasy state, we can all learn a few financial lessons these days! Keep reading to learn about the stars' major money mishaps.