Celebrity bankruptcy filings are always unexpected. It always seems as if one minute a celebrity has millions of dollars and the next they have nothing.
(prHWY.com) May 2, 2012 - Seattle, WA -- Celebrity bankruptcy filings are always unexpected. It always seems as if one minute a celebrity has millions of dollars and the next they have nothing. The reason celebrity bankruptcy filings are so unexpected is because most celebrities seek the help of a debt management company that specializes in celebrity or luxurious lifestyles.
"We noticed that many debt management companies specialize in helping average everyday people with their debts", said Tina Humphries, CEO of All That Glitters. "That might be great for the average person, but the truth is these celebrities are anything but average, and need someone who understands that."
Working alongside the celebrities, their money managers, managers, and assistants, All That Glitters helps create budgets that work for the luxurious lifestyles of the rich and famous. All That Glitters will break down the existing debt that they have, work out a payment plan to start decreasing the debt, and find areas where excessive spending is an issue.
"Some of these celebrities are used to bringing in 6, 7 or 8 million dollars a movie", said Humphries. "When that stops happening, they don't automatically stop spending, and that is where the big issue comes into play, and why many of them end up in debt."
Unlike average debt management companies, All That Glitters understands the need for celebrities to maintain a certain image. They work together with the celebrity to try to keep up the glitz and glam, but do it on a budget.
Debt management isn't the only service offered by All That Glitters. All That Glitters also offers budget consulting. Celebrities can learn how to set up 401k accounts, retirement funds, and trust funds for children. They can even learn how to invest and save money for the future.
"About half of our clients are celebrities who want to learn how to properly manage their money", said Tom Hill, money consultant for All That Glitters. "These celebrities have the foresight to know that there could come a day when the money isn't flowing in, and they want to prepare for that as early as possible. I can make that happen."
All That Glitters promises that their services are confidential. All employees sign a non-disclosure agreement.
"It is important that our clients know that their money woes and personal information isn't going to end up in the latest issue of a gossip magazine", said Humphries. "If they don't trust us, they'll go to someone else. We don't want that."
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