'Lessons learned': Party-loving Calum Best declares himself bankrupt after years of 'mistakes'
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After leading a lavish lifestyle, party-loving Calum Best has filed for bankruptcy, admitting he had made a number of 'mistakes' over the years.
The 32-year-old son of footballing legend, George, confirmed that he made the decision after being left unable to pay a tax bill.
He told The Sun: 'I can confirm I have made the decision to declare myself bankrupt as a result of being unable to make tax repayments.'
Bankrupt: Calum Best at the first birthday party of 2&8 Club earlier this week
He said: ‘I was blessed to earn a large amount of money at a young age, and mistakes have come with that. But also lessons learned.
‘I have tried to pursue alternative methods, but sadly my application for IVA (individual voluntary arrangement to avoid bankruptcy) was rejected on three occasions.'
After looking at all possibilities, he deemed this final decision as the most sensible option, and his spokesman said he was looking forward to turning over a new leaf.
Mistakes: The star admits he has made a few wrong decisions after earning a 'large amount' at a young age
Calum is the latest celebrity to go public about their financial problems.
Blue star Duncan James revealed he was bankrupt in September, after former EastEnders actress Martine McCutcheon did the same in February.
The boyband singer said he was let heartbroken after being forced to sell the home he bought his mum, after losing money due to property investments.
While it was revealed that Martine, despite earning a fortune from her various roles, had debts of £187,000 - comprising a £149,000 tax debt to HM Revenue & Customs and a further £30,000 to Lloyds bank.
She tweeted at the time: 'I can't begin to express my love and gratitude for such kind and encouraging messages. I'm truly so touched. I love you guys. Thank you.'
Money troubles: Calum is the latest in a long line of famous faces who has spoken out about their financial woes
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He's down but not out. I hope he's able to turn things around and soon. Good luck Callum, this happens to the best of us.
*rollseyes* He was never going to be a success was he? Always trying to ride on his daddy's fame!
People who live the high life and then declare them selves bankrupt ,never mind the vast amounts they owe to the tax and bank ,what about the amounts they owe to the small firms who will never get paid but really needed the money to keep afloat them selves .My e husband did a building job along with car park and was owed Over £10,000,the guy had creditors all over the place ,he went bankrupt and as his house etc were all in his wifes name my husband did not get what was owed to him ,he did however go down and take the gates of the car park of ,his reasoning they are still my gates he has not paid for them I must say they looked nice on our drive
Why do they always end up owing the tax office; you get paid X & so put X amount for tax - any accountant can tell you that. Why land up in a mess over it, because they try & fiddle the system I'm sure.
Another so called "celebrity" taking the easy way out.I cant see his tax bill could have been very big as he seems to do nothing.!!!
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pavlito, uk, moments ago
As with the TOWIE crowd you find that sooner or later the fact you have no discernible talent always comes to the fore!