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Bow Wow made headlines earlier this week, when he and baby's mama Joie Chavis appeared in a courtroom to fight over child support. Eventually, the young rapper would agree to fork over $3,000 a month, claiming he makes just $4,000 a month, leases a jeep, and has a grand total of $1,500 in his bank account.
While it may seemed far-fetched that he's hurting for cash, especially since he just landed a new gig as host of BET's "106 & Park", Bow may not be as flush with cash as its perceived.
According to TMZ.com, creditors have been chasing Bow Wow for three years over a Ferrari F430 he leased back in 2008.
A company called B.W. reportedly leased the exotic sports car to the 25-year-old rapper; and then, a year later, he had fallen behind on payments. In February 2009, the leasing company sued him and got a judgment for over $216,000. However, Bow Wow never paid, and now, he owes the original judgement plus interest, bringing it to nearly $284,000.
The young rapper has been in the game since the age of 13, when he sold over 2 million copies of his debut album, Beware Of Dog. He's gone on to release seven solo projects, a collaborative release with Omarion, resulting in millions of album sales... and appeared in several movies.
It's hard to believe that Bow Wow is hurting, but it happens to the best of em.
