Grammy-winning rapper Lil’ Kim is reportedly owing some massive debts and has filed for bankruptcy.
Not only does the diminutive diva owe more than $1.47 million in back taxes, but the New York Daily News reports that Kim (born Kimberly Jones), owes more than more than $4 million in secured and unsecured debts and $664,474 in late mortgage payments for the $2.3 million house which she bought in 2002.
In court docs, Kim says that her income has dropped substantially in the last few years—from $823,659 in 2016 to $398,000 last year; she now lists $18,286 as her monthly income ($12,784 of which goes towards expenses).
Kim’s $2,573,300 in assets include a 2000 Mercedes worth $4,200, a 2005 Bentley worth $52,600 and jewelry worth $25,000. Her expenses include $2,200 a month on wardrobe, $10,410 a month on travel and entertainment, $2,317 on staff, and a monthly mortgage payment of $6,610.
The home that the rapper shares with her three-year-old daughter is going up for auction on June 29.
Source: The Root/New York Daily News Report