Hip Hop veteran DMX recently filed for bankruptcy, and claims he has only $50 to his name. According to the Wall Street Journal, X is dealing with monthly expenses that outweigh his monthly income, a sure recipe to fall into more intense debt.
In legal docs, DMX's monthly income is listed as $5,000, despite monthly expenses reaching $5,221. Included in those expenses are clothes, laundry, and dry cleaning. As bizarre as that sounds, the Yonkers rapper seems very serious. Under penalty of perjury, X swears he has no personal property of any value. That could include electronic equipment, jewelry, clothes, or cars.
Despite his strange claims, DMX is indeed up to his eyeballs in debt. He owes over $1 million in child support and over $20,000 in car payments.
"DMX's financial strains have been inhibiting his career for several years," said DMX's publicist. "Poor financial management by prior representation have caused him to be ineligible to retain a passport. The purpose of this bankruptcy filing is for reorganization so he can perform for his fans overseas. We are currently planning a tour in Europe and Africa for the fall of 2013."
Source: hiphopdx.com
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Posted By Blogger to Entertainment News on 9/21/2013 11:20:00 am
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