Meat Loaf had a successful career in the ’70s, but had to file for bankruptcy in the ’80s due to more than 45 lawsuits.
Meat Loaf was a huge success in the late ’70s starring in the cult classic “Rocky Horror Picture Show” and releasing his hit album “Bat Out of Hell.”
But following that success, the singer faced financial troubles and was forced to file for bankruptcy in 1983.
“I had 45 lawsuits totaling $80 million thrown at me, it was a game. And the only way to stop them playing their game was to declare a chapter 11 bankruptcy,” he told The Guardian in 2003. “Because every time we’d get one case dismissed, they’d throw another one at me. And everybody thinks I had all this money but I didn’t, because CBS did not pay my royalties until 1997.”
He turned things around in the ’90s with his hit song “I’d Do Anything For Love (But I Won’t Do That).”
