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.



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