DMX filed for bankruptcy on Monday.
Just days after DMX was arrested for allegedly driving under the influence, the rapper finds himself in more trouble, this time financial. Court records show that DMX filed for Chapter 11 bankruptcy protection following his arrest in South Carolina.
The Wall Street Journal reports that DMX filed the documents Monday in the Manhattan bankruptcy court. His Chapter 11 petition apparently lists that his assets amount to less than $50,000 and he has $1 million to $10 million in debt. In his court papers the rapper said he filed in order “to enable me to reorganize my financial affairs.”
Among his debts, X owes more than $1.24 million in child support and more than $21,000 on an auto lease.
DMX’s dropped an album last September, Undisputed, which only sold 17,000 units in its opening week.
[UPDATE: DMX’s Publicist Releases A Statement Concerning Bankruptcy]
HHDX has received a statement regarding DMX filing for bankruptcy. His publicist 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.”
