DMX Files Chapter 13 Bankruptcy

by San Antonio Attorney

Rapper DMX, whose real name is Earl Simmons, has filed for Chapter 13 bankruptcy.

The artist reportedly owes more than $2 million to creditors, and filed for bankruptcy for the third time in order to save his home in New York.

He has 15 kids with 9 different mothers, which could be one of the main reasons why he has been financially troubles for the past ten years.

DMX’s largest creditor is Compass Bank, which it owes a $950,000.  He also owes a total of $535,694 in child and $1.4 million in family support.

He claimed he does not possess any valuable assets.

The Party Up rapper also said that he doesn’t have any stake in trademarks or copyrights for any of his songs throughout his career.

The only asset he owns is his house in Mount Kisco, New York valued at $350,000.

Although DMX has performed in late 2016 and upcoming gigs this year, he says he has no money in his bank account.

He previously filed for Chapter 13 bankruptcy in 2009 because he couldn’t pay his child support, but his petition was dismissed due to ‘unreasonable delays.’

According to reports, DMX filed for Chapter 11 bankruptcy in three years ago and was dismissed because he did not give credible details in his filing.

DMX, who has been in and out of prison since for the past 16 years, was detained and ordered by a court to serve a 6-month sentence for unpaid child support.

In February 2016, he was hospitalized after an alleged drug overdose.

Chapter 13 bankruptcy allows individuals with regular income to create a plan to pay back all or some of their debts.  If you are considering this type of bankruptcy to regain control over your finances, ask a San Antonio Chapter 13 Attorney if it is the right option for you.

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