A documentary chronicling Aames' efforts to rebuild his life will premiere Thursday on VH1. The documentary is called "Broke and Famous: Willie Aames," and it will show the star of "Eight Is Enough" and "Charles in Charge," who has struggled with a home foreclosure and bankruptcy, working with a financial guru and life coach. He is trying "to reshape his financial future," VH1 said in a statement.
Evidently, Aames has already succeeded -- he told the show "Entertainment Tonight" that he, himself, now plans to become a financial advisor.
"I never dreamed I would want to be or become a financial advisor," he said, according to a statement released by "Entertainment Tonight" this week. "I am well on my way."
"Entertainment Tonight" broadcast an interview with Aames on Monday.
While things may be looking up for Aames, film star Nicolas Cage has seen his financial straits turn so dire that he's selling off multiple properties. In a lawsuit filed last month, Cage said former business manager Samuel J. Levin is to blame.
In a claim filed in Los Angeles Superior Court, Cage accuses Levin of commiting "gross mismanagement," by involving Cage in "highly risky and speculative real estate investments" and failing to obtain proper insurance for Cage's investments, among other things.
Cage also said Levin failed to pay Cage's taxes on time. Cage owes the IRS more than $6.6 million in income taxes according to a federal tax lien notice obtained by TMZ.com last month.
Levin did not immediately return a call for comment.
Cage is just one of a long list of celebrities with financial problems. Lenny Dykstra, Victoria Gotti and Annie Leibovitz have all been hit by tough times and lack of opportunities. Some have had to put their multimillion-dollar homes on the market, declare bankruptcy or face foreclosure.
Below, ABCNews.com takes a look at seven stars who have found themselves strapped for cash.
She's photographed some of the world's most famous faces and is an icon herself, but Annie Leibovitz has struggled to stay out of debt -- so much so that it nearly cost the famed photographer a lifetime's past work.
Last year, Leibovitz put up several homes as well as copyrights to all her photos to secure a $24 million loan with Art Capital Group. But last July, Art Capital sued Leibovitz, claiming she breached an agreement with the lender, the Associated Press reported.
Leibovitz's fortunes changed for the better last month, however. The two sides reached an agreement Sept. 11. Art Capital dropped the lawsuit, extending Leibovitz's loan and selling her back the rights to act as exclusive agent in the sale of her real estate and the copyrights to all of her present and future works.
Stephen Baldwin, the star of films including "Bio-Dome" and "The Usual Suspects," filed for Chapter 11 bankruptcy protection in New York in July.
The court documents show that the 43-year-old actor and his wife, Kennya, owed more than $2 million, Reuters reported.
The Baldwins owed a reported $1.2 million on two mortgages for their home in Rockland County, N.Y., valued at $1.1 million. Court filings also showed the actor owed $70,000 in credit card debt and more than $1 million in taxes.