After several years of jail stints, legal battles and still owing $1.24 million in child support, Yonkers native and rapper DMX has filed for bankruptcy all because of poor financial management by previous representation.
X’s rep Domenik Nati shortly released a statement yesterday explaining why the rapper is filling for Chapter 11 bankruptcy. Domenik 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.”
In the filed docs, DMX states that he only has $50,000 in assets and owes up to $10 million in overall debt which includes a $21,000 auto lease.
DMX was recently arrested on suspicion of driving under the influence without a driver’s license in South Carolina.