12 Celebs Who Bounced Back from Bankruptcy

From Donald Trump to 50 Cent, see which stars started a new chapter after filing for Chapter 11

MC HAMMER

It was a lavish lifestyle, not spending too much money on Hammer pants, that put the rapper in debt to the tune of $13.7 million in 1996 and forced him to file bankruptcy to "stop the bleeding." "I didn't just take the money and say, 'I want to be a blessing to myself.' I took my money and employed 200 people in my community," he would later say. "I had a payroll of a million dollars a month at times." Since those dark days, Hammer has continued to perform and has also become quite the businessman, launching a record label, managing martial artists, developing iPad apps and investing in Internet companies, including a search engine called WireDoo. "I think it is a shock to people to find out that MC Hammer is a super geek," he says.