DMX Filed for Bankruptcy for the Third Time, Facing Foreclosure on Home
It looks like DMX is going to end 2016 in debt. The rap vet has reportedly filed for bankruptcy for the third time in seven years.
According to TheDirty.com, the former Ruff Ryders rapper filed bankruptcy papers in an effort to avoid losing his home in Mount Kisco, N.Y. DMX lists a mountain of debt, including $950,000 to Compass Bank, $304,796 in back child support, another $230,898 in support and $1.4 million in family support. In total, the rapper is $2,030,970 in debt. Keep in mind that DMX has 15 kids he has to feed with his newest being born this past August.
The only asset that he owns is his $350,000 house in Mount Kisco, N.Y., and it’s currently in foreclosure. X claims there’s no furniture, electronics, guns, clothes or household goods inside the property that are worth anything. The 46-year-old rapper also claims that he doesn’t have a car, no cash or money in his bank accounts.
The case is still pending in federal court.
This news come as DMX continues to be dogged by money problems in 2016. The IRS is currently investigating him for failing to pay taxes for several years. X also reconciled with his ex-wife Tashera Simmons who was dragging him to court so she could get some child support from him.
We want to wish DMX prosperity in the new year.