Memphis Bleek Brushes Off Reports of Bankruptcy Filing

by San Antonio Attorney

New York rapper Memphis Bleek has responded to rumors that he recently filed for bankruptcy.  The rapper retweeted a post in Twitter, claiming to have a conversation with Noreaga through the phone and both just laughed off the reports.

Bleek, hailing from Brooklyn, claims to possess only $100 of total cash in his assets when he filed for Chapter 13 bankruptcy last March, according to a report in Bossip.

Bossip reported in its website that the rapper filed for bankruptcy last March.

Memphis Bleek is known to have acquired a variety of assets throughout his career.  However, his liabilities outweigh these assets such as a mansion in New Jersey, a Chevy Impala car, expensive clothing and wedding rings.

Memphis Bleek’s total assets amount to $274,000, while his total liabilities amount to $385,000.

The rapper’s mansion in New Jersey is considered as the biggest liability, with a total debt of $335,000.  IRS and Monmouth County Superior Court are the other creditors included.

Last 2014, the rapper revealed in a public statement that he is working with a new collaboration with Jay Z, along with D’USSE, to launch a new cognac under his name.

The cognac costs approximately $50-60 for 1 bottle.

Memphis claimed that he called Jay-Z about his new project, something not related to making music.  Memphis was summoned to Jay-Z’s office, informing his approval of the collaboration of the new project.  The rapper has been openly proud of his work as he claims that ‘he is pushing cases like dope’.  The rapper’s plan for reorganization is still pending as he promised to work on a payment plan.

Despite bankruptcy rumors, the rapper is set to perform at the Bed- Stuy Music Festival this August along with Kenny Lattimore and DJ Funkmaster Flex.

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