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DMX has filed for bankruptcy as his financial woes have climaxed.
The rapper, Earl Simmons, has long had money issues, but days after he was arrested for a suspected DUI, he made the filing.
The Wall Street journal reports:
Filed Monday in the Manhattan bankruptcy court, the Chapter 11 petition of Earl Simmons, aka DMX, lists less than $50,000 in assets and $1 million to $10 million in debt. The rapper said in court papers that he filed for Chapter 11 bankruptcy, which is available to both businesses and consumers, “to enable me to reorganize my financial affairs.”
The New York native and current South Carolina resident owes $1.24 million in child support and more than $21,000 on an auto lease, among other obligations. His principal asset is a 50% stake in property in Mount Kisco, N.Y.
The 90′s Hip-Hop icon has been a constant fixture in reality TV and news for various exploits. He was never charged with DUI after momentarily being arrested last week.
The rapper, Earl Simmons, has long had money issues, but days after he was arrested for a suspected DUI, he made the filing.
The Wall Street journal reports:
Filed Monday in the Manhattan bankruptcy court, the Chapter 11 petition of Earl Simmons, aka DMX, lists less than $50,000 in assets and $1 million to $10 million in debt. The rapper said in court papers that he filed for Chapter 11 bankruptcy, which is available to both businesses and consumers, “to enable me to reorganize my financial affairs.”
The New York native and current South Carolina resident owes $1.24 million in child support and more than $21,000 on an auto lease, among other obligations. His principal asset is a 50% stake in property in Mount Kisco, N.Y.
The 90′s Hip-Hop icon has been a constant fixture in reality TV and news for various exploits. He was never charged with DUI after momentarily being arrested last week.
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