While the life of the rich and famous may seem fascinating and glamorous, apparently, it's not all that's it cracked up to be. Some of our favorite celebrities and icons have declared bankruptcy due to their inability to keep up with their lifestyles, bad spending habits, legal issues, and loans that weren't paid off.

There are some that many know have spent more than they could chew, such as artist, M.C. Hammer and Vanilla Ice, but there are also others that could surprise many, such as actress Lena Headey and actor Burt Reynolds.

Some celebrities were swindled out of what they were owed; one perfect example is the popular group TLC, who filed for Chapter 11 bankruptcy on July 3, 1995. Even though the all-girl trio was one of the highest selling groups in history, they declared debts totaling $3.5 million because they received a less than favorable deal from their Pebbitone.

Even the president of the United States, Donald Trump, filed bankruptcy multiple times in 1991,1992, 2004 and 2009.

And let's not forget The Weinstein Company, who currently may have to file bankruptcy due to the overwhelming amount of legal fees from the Harvey Weinstein epidemic.

Take a look at some other famous stars who had to take the walk of shame to the bank.

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