7 celebrities went broke


Meat Loaf was the master of the power ballad, including the seemingly 45 minute long “I Would Do Anything For Love (But I Won’t Do That)”. During the 1980’s, Meat Loaf got some help from his pal Jim Steinman for writing his songs because when they are that long, you can’t write them all on your own.Steinman filed a lawsuit against Meat Loaf for not getting enough royalties on the songs, which caused Meat Loaf to go broke. After filing for bankruptcy, Meat Loaf was in a tough spot. He wrote his own songs from there on out and has since recovered nicely from his 1980’s bankruptcy. Loaf would do anything for cash, but he won’t sell out.