Wednesday, October 23, 2013

DMX Bankruptcy Case in Danger


Back in July DMX filed for Chapter 11 bankruptcy claiming less than $50,000 in assets and over $10 million in debt [click here if you missed that].

DMX's bankruptcy case is in danger of being thrown out because of multiple inconsistencies in his financial reporting...

According to reports DMX's case is being challenged because he has failed to show up to creditors meetings and submitted contradicting accounts of his financial situation. In one instance DMX claimed he makes $5,000 a month and in another instance claiming $1,600 a month.

The rapper also claimed $0 in clothing assets while listing $1,000 a month for clothing expenses.

The Justice Department wants DMX's Chapter 11 case, which allows restructuring of debt, thrown out altogether or at the very least changed to Chapter 7 which requires asset liquidation.

12 comments:

Anonymous said...

Hmmmm

Anonymous said...

Nice try X, but you need better attorneys.

Tippie Toes said...

This is DMX we're talking about...

Anonymous said...

I guess he has no attorney.

Niyabinghi Warrior said...

SMH

Louisiana said...

P.DIDDY ..URGES EVERYONE TO GO AND SEE THE MOVIE 12 YEARS A SLAVE ....ABOUT AMERICA'S PAST WITH SLAVERY . THE TRUE STORY ABOUT SOLOMON NORTHUP WHO WAS KIDNAPPED AND BROUGHT TO LOUISIANA AND WAS FORCED INTO SLAVERY . IN THEATERS NOW .

http://www.youtube.com/watch?v=0GOlQETrNds&feature=player_embedded#t=55

Honey Bee said...

Fuck these irresponsible ass kneegrows! this is why dumb niccas shouldn't have money, the ruin the economy for the rest of us! Thats 10 Mil all the rest of us will have to cover through taxes, I say change the damn bankruptcy laws! All these hos raking up debt then they just write it all off with bankruptcy! Meanwhile the gov tried to sue my ass for a 20K student loan, I paid that shit off! Yes I pay my debts I dont drag the system down, you sorry ass drug addicted STD infested dog!

FUCK DMX and all the rest of them niccas that are used to making it rain but cry wolf the minute the bill is due! Fuck outta here!

Anonymous said...

DMX lawyers need to wonder how they are going to be paid.

Bee Gee said...

Earl the type of nigga that hit up the Library in September tryna do his taxes 5 months late, and get mad cuz they have no 1040ez's on display.. We're almost to the end of this tragically depressing book..

Anonymous said...

DMX is still hott!

Quiana said...

I just can't with uncle Earl today.

IAINTMADATCHA said...

@Bee Gee you give Earl too much credit with the 1040ez. That nicca looking for the 1040a and saying fcuk the state form altogether. lol Peace brother!

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