Lil Kim Files For Chapter 13 Bankruptcy Protection
Lil Kim has filed for Chapter 13 protection in New Jersey last month claiming she’s $4 million deep in debt. Get the scoop.
It’s hard out here for a pimp…when she’s tryna get this money for the rent…
Lil Kim has filed for Chapter 13 protection in New Jersey last month claiming she’s $4 million deep in debt.
The filing came after a bank foreclosed on the Hip Hop icon’s Alpine mansion. On top of that, Uncle Sam is pressing her for $1.8 million in unpaid taxes.
Via NY Daily News:
The Grammy winner and former girlfriend of Notorious B.I.G. says her assets include a 2000 Mercedes worth $4,200, a 2005 Bentley worth $52,600 and jewelry worth $25,000.
Jones lists her cash on hand as $2,500.
According to the filings, Jones spends $2,200 a month on wardrobe, $10,410 a month on travel and entertainment, and $2,317 on staff.
Beyond her IRS tax bill, she also owes $376,346 in New Jersey state taxes, her court paperwork states.
Lil Kim has proposed a plan to chop down the debt by offering to pay $5,500/mo to creditors to get back on track.
She’s due back in bankruptcy court in July.
I hope they are willing to work with her.
Photos: Lil Kim IG