Last week Bow Wow's dire money situation was put on blast after it was revealed that his Lamborghini Murcielago got repossessed last year [click here if you missed that].
Now the bank wants the money they spent to repo Bow Wow's ride...
From TMZ
It costs roughly $25,000 to repossess and sell a rapper's Lamborghini -- at least according to a Georgia bank, which is now suing Bow Wow for money it spent flipping his ride.
SunTrust Bank filed the lawsuit against Bow Wow -- real name Shad Moss -- claiming he took out a $300,165 business loan, agreeing to 84 monthly payments of $4,730.
According to bank records filed with the lawsuit, Bow Wow fell behind last year. The docs show the bank repossessed the rapper's Lamborghini Murcielago -- and managed to get $161,000.
You'd think that would be the end of it -- but the bank tacked on more than $25,000 for "repossession expenses."
According to the lawsuit, Bow Wow still owes the bank $21,371 -- and the bank wants every penny.
27 comments:
damn dawg....give this nicca a break!! Now im even started to get irritated at all these MFz in Bow Wowz azz. Give him a chance to make some damn money, then he'll be able to pay ur azzez.
KJ
Im so I C D C college!(in romeos voice) It's never to late to go to college Bow Wow "ICDC" at least.
SunTrust is the devil anyway...they're only doing that because he was famous. If it was Shad Moss the copier repairman they would of wrote it off.
The struggle is real huh, Shad? Wont nobody be mad at him if he just quit frontin and apply for his EBT card..
Shad Moss the copier repairman would have never qualified for that loan in the first place LOL
However, I really hope he can get it together. All of these lawsuits, Child Support issues and lack of music are not good for his "brand"
Tash
changing the name to just Bow Wow did not make him a man
I have been fasting for 48 hours trying to get some prayers through to God quickly. At the end of my fast i'm going to Outback Steak House or may be Long Horns. I don't eat a lot of red meat, but in 24 hours it's on.
Bow Wow when it rain it pours, people do not realize that you reap what you sow more than what you sow so sometimes you will have repercussions of bad choices/decisions for years. Have you ever heard that saying further on up the road you are going to reap what you sow. That applies to more than relationships.
Good Luck Bow WOW....you will turn it around, but pay your child support first.
Reaping What You Sow....
Galatians 6:7-8 ESV
Do not be deceived: God is not mocked, for whatever one sows, that will he also reap. For the one who sows to his own flesh will from the flesh reap corruption, but the one who sows to the Spirit will from the Spirit reap eternal life.
Galatians 6:7 ESV
Do not be deceived: God is not mocked, for whatever one sows, that will he also reap.
Job 4:8 ESV
As I have seen, those who plow iniquity and sow trouble reap the same.
Luke 6:38 ESV
Give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you.
Fasting? Then to Outback? I can't today Jesus LMBO.......Whew! Jesus be a chair so Tracy can have a seat AWAY from the keyboard! LOL
12:55... Keep laughing ignorant people that's all they do is Gossip, make fun of others and put people down. Instead of your Black Ass Laughing Out Loud why don't you do something constructive with your life you never know when your time is up don't waist it with your negative energy.
I find that its karma for all the showoffy rappers & entertainers who can't and wont live within their financial means. Before a person buys something they KNOW whether or not they can afford it and continue to afford. I feel "kinda" bad that after everything he has done he has nothing saved. But he deserves the struggle he is in right now -Dotty✿
Lili said...
If you have to finance a luxury car over the span of 7 YEARS...
You can't afford it.
I'm sorry- it would've been significantly cheaper if he paid for it cash, or at least put down half. He needed that extra 4k/month-- and who wouldn't?!
Seriously! Where the hell to they find celebs' financial advisors?! Or do they just ignore them? Smh
I think we are witnessing Tracy have a mental breakdown and an emotional meltdown. I would say I would pray for you, but that would just send your ass into a tailspin and a further spiral downward. Seek professional help, sister girl.
@2:16PM She is so annoying. People who are self righteous like that usually are. Why did we need to know you are on a fast? What does that have to do with Bow Wow not being able to pay for his car? STFU!
SHIT!!! Give him a break for what???
This mofo had some serious dough & spent it all on bullshit!!!
BREAK MY ASS!!!!
@1:38 i agree, it's silly to finance a lambo.
@4:29 regular working folk don't get a break - why should he?
I don't feel sorry for this stupid tragic kneegrow, these slave ass niggas and their love of overpriced garbage to floss and fake the funk. fuck all of them I hope the yt man comes for every last one of those ho's spending money on dumb shit!! fucking insanity.
Nigga shoulda saved the money from the songs he made when he was 10. Did he really think we'd be checking for his ass 15 years later?..oh, wait, I think he really did...
This is a shame. Do any of our black entertainers (athletes) have any basic financial common sense education or is this a ghetto thing: don't go to school, make babies, don't get married? One semester at a community college (or online class) would have showed him how to invest, how to save, and how to budget.
"damn homie, in high school you was the man homie, the fuck happened you?"
Niggers are sooooooo stupid! They make all this money, and waste it on cars, diamond-studded chains, and sneakers!
Next thing you know, these dumb ass coons are broke and having shit repossessed!
SMDH!
@1:19 AM Homie was too busy trying to be the 'man' in his high school and ended up flunking his math and personal finance classes which attributed to his being broke right now.
'A mind is a terrible thing to waste.'
Anonymous said...
I think we are witnessing Tracy have a mental breakdown and an emotional meltdown. I would say I would pray for you, but that would just send your ass into a tailspin and a further spiral downward. Seek professional help, sister girl.
2:16 PM
Anonymous said...
@2:16PM She is so annoying. People who are self righteous like that usually are. Why did we need to know you are on a fast? What does that have to do with Bow Wow not being able to pay for his car? STFU!
4:14 PM
..........
I'm fasting and talking to God about you fools that bash me and show disrespect for father God word and servant. And trust and believe it may take a little time, but he will answer my prayers that i pray about. I print out your attacking post and read them to him.
He will correct your "miserable" lives and show you revelation in one form or another.
There are many prayers in the bible for demons, evil, and wicked people. Well 1:16...I hope your mama don't have a mental break down.
Those who guard their tongues keep themselves from calamity (Proverbs 21:23). So we must guard our tongues and refrain from the sinful act of gossip. If we surrender our natural desires to the Lord, He will help us to remain righteous. May we all follow the Bible’s teaching on gossip by keeping our mouths shut unless it is necessary and appropriate to speak.
You people...you know who you are... so ignorant wasting precious time in life. Do something constructive for your father in your lives. Instead of making your lo self-esteem selves fell better about talking negative about people.
I should not have even wasted my time responding to you fools!
@Tracy...Love God 4/Ever! said...
Tracy do you really think the Heavenly Father is going to listen to your prayers with you calling people fools? He sees and knows that you are angry and hateful towards the posters on this blog. Having a bad attitude towards the the people you're praying for shows that your prayer is not sincere.
I've commented on your posts multiple times and agreed with you once on a post. Since then, I've been reading your posts and my comments to you has been that you're annoying and you come across as someone trying to show off your knowledge of the scriptures, just like the pharisees in the bible. Your posts are never on topic and you fail to relate the scriptures to the topic.
FYI, In case you didn't know, this is a blog that showcases black entertainers. People go to blogs to post comments, questions, and concerns about the person of topic. Practically anything goes on a blog. It's a form of entertainment just like T.V. and a sporting event.
What gives you the right judge what people are or aren't doing with their time as it relates to Heavenly Father? I suggest that you go to church Sunday, take a seat on the front pew and when they do the alter call, go to the alter and ask God to forgive you for being so negative to the posters on this board.
God Bless you!
I hope he can get his money situations straightened out, but really, you would think that these rappers would learn something from people like MC Hammer, Young Buck, etc. At first, when I had heard about his child support hearing about how he said he only has $1,500 in his checking account, and he only makes $4,000 a month from Cash Money Records, I was thinking, "He's hiding money." Now I'm starting to think he was actually telling the truth. Because if he had $300,000, he wouldn't have to go to the bank and ask for a loan. I read somewhere that his mother had put millions up for him in a trust fund, and gave it to him when he turned 21. If that's true, his case is worse than Hammer's because he blew his money twice as fast as Hammer did. Downsize, Bow Wow.
i remember how he was acting on "cribs"... now im LMAO @ HIM!
gmagic
Its not the financial advisors. Its sad but black entertainers and athletes get caught up in a certain image that they cant afford to maintain. They flaunt and use the celebrity and wealth to get women So for some reason, for them to downgrade and be well off in the long run is far worse to go completely broke and lose everything they've worked for. You would've thought that his mom, whose basically been living off him wouldve stepped in for her sake as well.
Bow Wow is a poser. I think he has that little man complex. A little humble pie will help a lot of these cats in the long run. But that urge to show off is overwhelming.
Trust me, I've seen it 1st hand. My brother played in the NBA for quite a few years and now calls me because he cant make rent. He spent wildly unchecked even when he wasnt making the that monthly NBA money.
Same goes for J. Dupree. They epitomizes the term "Ball til ya fall!".
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