Does actor Nicolas Cage need debt advice?

Hollywood superstar and Oscar-winning actor Nicolas Cage is reportedly in need of some debt advice, after facing claims for millions of pounds in unpaid taxes.

The actor who is responsible for hits including Leaving Las Vegas, Captain Corelli’s Mandolin and Con Air, and who commands around £10 million-a-film is currently offloading many properties from his portfolio in a bid to fend off mounting debt problems.

One of the properties he is currently trying to sell is a mock-gothic castle in Somerset called Midford Castle.

Cage bought the castle, which is designed in the shape of the ace of clubs, for £5m but is trying to offload it quickly to avoid further pressure on his debt management for a cut-down price of around £3.5m.

This also comes after he recently sold a townhouse in Bath, again reportedly for a loss.

It’s unfortunate deals like this that have pushed the movie star from having a licence to print money to being in a situation where he needs to consider seeking impartial debt advice, if he wants to avoid bankruptcy.

Ivan Cooper, Chairman at debt advice specialists Chiltern, said: “We’ve seen recently that the “rich”, and even ex-royalty, have been struggling to contain debt problems, and that their debt management could do with some expert advice.

“This is a problem that spans across society, as the current economic situation has meant that more people have been affected by debt management problems than before.

“People that have previously taken out a further loan to consolidate their debts have found that they can no longer secure credit, so they are having to consider alternative debt management solutions.”

Reputable debt advice organisations, such as Hamilton Locke, The Debt People and Chiltern, offer a range of solutions to help people get out of debt.

These range from informal Debt Management Plans (DMPs) to professional programmes like Individual Voluntary Arrangements (IVAs) and Trust Deeds.

For immediate debt and IVA advice, or for further information regarding all debt management solutions, please call the number at the top of this page.

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