DMX Millions Of Dollars In Debt, Files For Bankruptcy
Earl Simmons, best known as rapper DMX, filed for Chapter 11 bankruptcy protection in a Manhattan courtroom today.
According to reports, the MC claims to be $1 million to $10 million in debt, with only $50,000 in assets. His debts include $1.24 million in back child support and more than $21,000 on an auto lease.
In the legal papers, the rapper said he filed the order “to enable me to reorganize my financial affairs.”
“DMX’s financial strains have been inhibiting his career for several years,” representative Domenik Nati said in a statement. “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 oversees. We are currently planning a tour in Europe and Africa for the fall of 2013.”
This filing comes just days after Simmons was arrested in South Carolina on suspension of driving under the influence and without a driver’s license.
Along with his financial woes, X has had a public battle with drugs and alcohol for over a decade. We hope he gets it together for the sake of his family, soon.