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Mc Hammer Bankruptcy

February 11, 2012 by · Comments Off on Mc Hammer Bankruptcy 

Mc Hammer Bankruptcy, MC Hammer’s meteoric rise to fame hit a pinnacle in 1990 when Forbes Magazine estimated the rapper’s worth at about $33 million. So, why is it that MC Hammer filed bankruptcy only six years later? For this celebrity, his road to bankruptcy began with his inability to say no to himself and to others. Before filing for bankruptcy, MC Hammer was known for his ostentatious lifestyle. He spent at estimated $12 to $20 million building a custom mansion on a 20-acre estate. But he didn’t limit his lavish spending on only himself; he had an huge entourage of 60 onstage performers and 100 backstage members which cost him millions of dollars. So what was the lesson that MC Hammer learned after filing bankruptcy?

“It’s time to close out old business and stop being the lottery for people who see MC Hammer as this big celebrity with a bottomless pit of dreams for people,” he told the Hollywood Reporter after declaring bankruptcy.

Most debtors filing bankruptcy are not supporting a large entourage of performers and groupies but MC Hammer’s road to bankruptcy can be a lesson for all debtors looking to successfully exit their bankruptcy and improve their financial health. It is absolutely essential for the financial health of every post-bankruptcy debtor to avoid becoming the financial life support of adult family members and friends. Many bankruptcy attorneys have witnessed firsthand post-bankruptcy debtors falling prey to family and friends who want to latch on to the new and improved debtor’s credit worthiness. Just say no to personal loans or co-signing loans for family and friends, your financial health after bankruptcy will depend on it.

MC Hammer

February 11, 2012 by · Comments Off on MC Hammer 

MC Hammer, Stanley Kirk Burrell (born March 30, 1962), better known by his stage name MC Hammer (or simply Hammer), is an American rapper, entrepreneur, and actor. He had his greatest commercial success and popularity from the late 1980s until the mid-1990s. Remembered for a rapid rise to fame before losing the majority of his fortune, Hammer is also known for his hit records, including “U Can’t Touch This”, flamboyant dance movements and trademark Hammer pants. Hammer’s superstar-status made him a household name and pop icon. He has sold more than 50 million records worldwide.

Burrell also became a preacher during the late 1990s, was a television show host and dance judge, is a record label CEO, and as of 2008 works as a co-creator of a dance website called DanceJam, while still performing concerts at music venues and assisting with other social media, ministry and outreach functions. In addition, he was executive producer of his own reality show called Hammertime which aired on the A&E Network during the summer of 2009. Prior to becoming ordained, Hammer signed with Suge Knight’s Death Row Records by 1995.

M.C. Hammer is considered a “forefather” and innovator of pop rap, and is the first hip hop artist to achieve diamond status for an album. Hammer was later considered a sell-out rapper due in part to over-exposure and as a result of his increasingly gritty image as the landscape of rap changed. Nonetheless, BET ranked Hammer as the #7 “Best Dancer Of All Time”. Vibe’s “The Best Rapper Ever Tournament” declared him the 17th favorite of all-time during the first round.

Throughout his career, Hammer has managed his own recording business. As a result, he has created and produced his own acts including Oaktown’s 3.5.7, Common Unity, Special Generation, Analise, One Cause One Effect, Teabag, Dom Kimberley, Geeman, Pleasure Ellis, B Angie B, Stooge Playaz, Ho Frat Ho and Wee Wee, among others. A part of additional record labels, he has associated/collaborated/recorded with VMF, Tupac Shakur, Teddy Riley, Felton Pilate, Tha Dogg Pound, Deion Sanders, Big Daddy Kane and Jon Gibson, as well as others. In 1992, Doug E. Fresh was signed to M.C. Hammer’s Bust It Records label.

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