Wednesday, July 13, 2016

Memphis Bleek Broke & Has Filed For Bankruptcy

Memph Bleek is … broke. And we can’t decide if that’s something to be shocked about. On one hand, it’s not too unexpected considering the man hasn’t released an album in over a decade. On the other hand, it is somewhat surprising, only because Jay Z famously vowed to never let Bleek go under. Well, Hova might’ve dropped the ball, as Bleek has reportedly filed for Chapter 13 bankruptcy.

According to Bossip, the former Roc-a-Fella rapper filed the petition March 14 in U.S. Federal Court in New Jersey. His total assets—which include a Jersey Home, a Chevy Impala, clothing, and wedding rings—total $274,000; however, his liabilities total $350,000. He also claims he has only $100 in cash, as his Chase business account is empty, and his business “Get Low Touring” is worth nothing.

Bleek reportedly earns $5,911.94 a month—$571 in royalties and $5,340.94 from his business; however, his monthly expenses amount to $5,377, leaving him with $534.94 after bills.

According to Bossip, the bankruptcy is pending while Bleek formulates a plan to pay back his creditors. He currently owes $335,000 on his New Jersey house, $24,000 on his Chevy Impala, $9,000 to the IRS, and $13,000 to Monmouth County Superior Court.



2 comments:

  1. It is so sad that he is going bankrupt. The is a way to keep the documents safe via an online data room.

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  2. On the off chance that you petition for liquidation, you'll discover the calls will stop. It might about seven days for the lenders to be informed of the pending activity and calls may in any case be made until they are told. www.backgroundreport.com/coverage

    ReplyDelete