DMX Files For Bankruptcy, Owes $1.24 Million In Child Support

dmx_bank

After his arrest on suspicion of driving under the influence without a driver’s license in South Carolina, the New York MC has filed for Chapter 11 bankruptcy. In a report by The Wall Street Journal, he claims he has less than $50,000 in assets and between $1 and $10 million in debt.

According to court papers, he filed for bankruptcy because he hoped it would “enable me to reorganize my financial affairs.” The papers say he owes $1.24 million in child support and more than $21,000 on an auto lease. His biggest asset is a 50 percent cut in property at Mount Kisco, New York.

DMX has slowly made his return to hip-hop, gaining a spot at this year’s Rock The Bells tour and releasing his seventh studio album, Undisputed.

UPDATE: Domenick Nati of Nati Celebrity Services gave us an official statement on why DMX filed for bankruptcy. “DMX’s financial strains have been inhibiting his career for several years. Poor financial management by prior representation have caused him to be ineligible to retain a passport. The purpose of this bankruptcy filing is for reorganization so he can perform for his fans overseas. We are currently planning a tour in Europe and Africa for the fall of 2013.”

  • LuiKang

    he has himself to blame, he had what most ppl will never have in their life: money fame fortune, but let something like STUPID DRUGS and being in and out of jail, fuck him over… sad. cause the nigga was too talented.

  • fstwrtr

    1.24 million in unpaid child support and he wants a passport?… I hope he knows the rules: anyone owing $2,500 or more in unpaid child support doesn’t get a passport.. look like he will have to settle playing at the state fairs around the country

  • Sittipong Khochit

    He gone too far this time cuz dmx have many issues during his career and been in and out of jail many times and its getting the best of him he needs to get help or he could just die and rest in peace because of the things he cant handle to Im a big fan but the news of dmx doing something wrong its just to much ya dig. Fo real. Aight.

  • J-Vo

    CRACK

  • Tesfaye Hailu

    Question is how many more talented MC are on the next line? Isnt there a single capable financial adviser that he can go to? How many souls would want to be in his shoes? Cant he realize that?

  • lewis

    why you all hating DMX the DOG you all just new school fake ass punks

    • zack

      no. we’re not over looking the fact that he’s talented, just the fact he has to pay his kids. you can’t ignore that. if your dad was a multi-platnum artist, and he didn’t pay your mom a fucking dime to help put food on the table, you wouldn’t be resentful? you wouldn’t respect him right? why is X any different?

      you can call us fake ass punks and hate on us all you want, but all you’re doing is turning a blind eye to it. kind of like turning a blind eye to michael molesting all those kids..

  • Zack

    wow…X is a favorite mc of mine since i was little, dude rocks it. but as a man and a father? lost a lot of respect. i understand he had personal demons, but you have to find a way to support your own child/children.

  • money2grip

    Like ALLAH says in the Qur’an, “You will submit willingly or unwillingly!”