Things haven't been going too well recently for, Earl Simmons, aka DMX. Last week he was arrested in South Carolina for allegedly driving under the influence, and, on Monday, he filed for Chapter 11 bankruptcy in Manhattan, according to court records.
His petition lists estimated liabilities of between $1 million and $5 million and estimated assets of less than $50,000. Chief among DMX's debts is $1.33 million in unpaid child support. The rapper also owes another $479,265.37 in miscellaneous debts, such as a $21,000 auto loan from a Honda dealership in Massachusetts (apparently that's the way the Ruff Ryders roll). His principal asset is half of his home in Mount Kisco, N.Y.
An affadavit from DMX accompanying the petition notes that the bankruptcy will "enable me to reorganize my financial affairs.” Perhaps we've entered a new era of fiscal discipline up in here.
[via WSJ]
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