DMX Files For Bankruptcy
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RickyRich
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in The Reason
DMX filed for bankruptcy on Monday.
Just days after DMX was arrested for allegedly driving under the influence, the rapper finds himself in more trouble, this time financial. Court records show that DMX filed for Chapter 11 bankruptcy protection following his arrest in South Carolina.
The Wall Street Journal reports that DMX filed the documents Monday in the Manhattan bankruptcy court. His Chapter 11 petition apparently lists that his assets amount to less than $50,000 and he has $1 million to $10 million in debt. In his court papers the rapper said he filed in order "to enable me to reorganize my financial affairs."
Among his debts, X owes more than $1.24 million in child support and more than $21,000 on an auto lease.
DMX's dropped an album last September, Undisputed, which only sold 17,000 units in its opening week.
[UPDATE: DMX's Publicist Releases A Statement Concerning Bankruptcy]
HHDX has received a statement regarding DMX filing for bankruptcy. His publicist says,
"DMX's financial strains have been inhibiting his career for several years. 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."
Just days after DMX was arrested for allegedly driving under the influence, the rapper finds himself in more trouble, this time financial. Court records show that DMX filed for Chapter 11 bankruptcy protection following his arrest in South Carolina.
The Wall Street Journal reports that DMX filed the documents Monday in the Manhattan bankruptcy court. His Chapter 11 petition apparently lists that his assets amount to less than $50,000 and he has $1 million to $10 million in debt. In his court papers the rapper said he filed in order "to enable me to reorganize my financial affairs."
Among his debts, X owes more than $1.24 million in child support and more than $21,000 on an auto lease.
DMX's dropped an album last September, Undisputed, which only sold 17,000 units in its opening week.
[UPDATE: DMX's Publicist Releases A Statement Concerning Bankruptcy]
HHDX has received a statement regarding DMX filing for bankruptcy. His publicist says,
"DMX's financial strains have been inhibiting his career for several years. 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."
Comments
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Crac Kills
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Time to go on tour
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I honestly thought he been did it
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Sure. Blame everyone else. "unable to get a passport"
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Does anybody know that dmx first four albums....outsold jay's first four albums.....? shame
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This fool ass ? is the Bobby Brown of rap....
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sounds like its a wrap for dmx he about to go home(prison)
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The Toni Braxton of Hip-Hop
Literally.... -
Thought this happened years ago
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I was just listening to x this morning, i was hyped felt like barking out loud.
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X ain't never coming back. Damn shame that he once outsold Jigga and made more money than him.
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what thee fuccccccccccckkkkk X!
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It's just sad to see how far DMX has fallen.
Went from being at the top of the rap game and being the star of movies to this. Smh -
Damn shame. Remember that freestyle battle him and Jay had?? ? was saying he bodied Jay and had won. Apparently life disagrees...
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manofmorehouse wrote: »Damn shame. Remember that freestyle battle him and Jay had?? ? was saying he bodied Jay and had won. Apparently life disagrees...
Yeah from the movie backstage.
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Hope the ? gets it together.......
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Real ? this is hella sad. X was at one time Top 5 rapper at the time. Hope he gets it 2gether. Still bump X on a daily basis. Gotta get at least ONE of his junts in while working out.
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Threadstarter a white Boy hired by allhiphop to further taint hiphop and the black image
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i feel no one around him is trying to help this ? really and its going to be to late .
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Because he outsold Jay Z doesn't mean he made more money, In fact he didn't make more money then Jay, And that's just from record sales, Its how your contract is structured, Jay had leverage because he was part owner of the ROC which means A bigger share of the profits, X was an artist on Rough Ryders / Def Jam He got his money, But on A smaller scale.X ain't never coming back. Damn shame that he once outsold Jigga and made more money than him.
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i feel no one around him is trying to help this ? really and its going to be to late .
? the excuses, i'm pretty sure X has/had plenty of people try to help him.
maybe the ? needs to look in the mirror and try to help his GROWN ASS self first. The guy is beyond pathetic at this point.
http://www.youtube.com/watch?v=F-6bDDA5TB4
http://www.youtube.com/watch?v=9Ww-TQUeA3E
