There's an old saying that it's easy to make a million dollars in the music business, but it's hard to hold on to one dollar. These country stars found that out the hard way when they ended up going bankrupt.

Some of the country stars who have gone bankrupt include some all-time legends. Willie Nelson's struggles with money in the early '90s were probably the most well-documented; many of his assets were seized and auctioned by the IRS, and he ended up recording an album that he admitted was purely to pay off his debts.

He's far from alone; several of the country stars on our list had decades-long careers that earned them huge sums, but that doesn't necessarily mean they knew how to take care of the money they had made.

Many of the country stars who have declared bankruptcy did so because of poor advice from their advisors. Investments that turned out badly are another prime reason, while some country stars suffered career setbacks that altered their financial picture.

Financial disputes with a manager or other business associates also drove some of these stars into bankruptcy, and let's face it, some people just aren't good with money. Just because you hand someone a big chunk of cash, that doesn't mean they know what to do with it.

Click through the gallery above to see which country stars have gone bankrupt over the years.