Rap legend, DMX has reached his financial woes and filed for bankruptcy in a Manhattan court on Monday [Sept. 23]. According to the court doc’s DMX [real name Earl Simmons] owes over $1 million dollars in child support, back taxes and mortgage payments on his mansion home in Mount Kisco, NY, and more than $21.000 on an auto lease, reports Wall Street Journal. DMX has ten children from a number of women ranged in the ages of 10 up through 20.
In addition, DMX says that he has $50,000 tied up assets [that is currently pending due to a current lawsuit] and he’s racked up up to $10 million dollars in debt to various creditors, reports celebrity net worth.
DMX representative Doeminick Nati had this to say about DMX reasoning for bankruptcy:
” DMX’s financial strains have been inhibiting his career for several years. Poor financial management by prior representation have cause him to be ineligible to retain a passport. The purpose of this bankruptcy filing is for reorganization so he can perform for his fans oversees. We are currently planning a tour in Europe and Africa for the fall of 2013 “
Honestly, I truly hope the best for DMX because whethejr he knows it or not, it is his children that are impacted the most from this situation. We’ve got to do better people!