DMX Files for Bankruptcy
Published Jul 30, 2013The headlines have not been good to rough-voiced Ruff Ryder DMX as of late. The last we heard from him, he had checked into a mental health unit. Now, he's declared bankruptcy.
Days after an arrest for a suspected DUI, the rapper born Earl Simmons saw his financial troubles peak. As such, he declared bankruptcy, the Wall Street Journal reports, listing $50,000 in assets and between $1 and $10 million in debt. His unpaid child support alone is estimated at $1.24 million, and there's $21,000 owing on an auto lease.
DMX said that he was making the Chapter 11 petition "to enable me to reorganize my financial affairs." The small silver lining is that he was ultimately not charged with a DUI.
UPDATE: In a statement to Exclaim!, DMX's PR rep Domenick Nati offered the following:
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.