Celebrity couple, Duane Martin and wife Tichina Campbell Martin reportedly are having ALOT of financial woes and recently filed for bankruptcy. According to the Daily Mail , the couple has allegedly 15million dollars in debt with only $313,000 dollars in assets.
In a nut shell, the couple’s liabilities reportedly include $3million to Broadway Federal Bank for a personal guaranty for a real estate loan they took out, 9.5 million to the City Of Los Angeles for a personal guaranty, $82,000 in back taxes for 2005 through 2011, $86,000 to New York State Department of Taxation and $30,000 to the state Board Of Equalization.
Although Tisha & Duane have several companies they run, including a production company where Tisha is paid for her work on the ABC show ‘Dr. Ken Show’. She says her contract is up this year and is uncertain if she will be asked to return.
As it stands, court documents reveal they owe $208,611 in tax debt and $113,00 in student loans they took out for their nephew to attend college.
The couple current owns a 2014 Range Rover, 1999 Kawasaki Drifter, 2004 Yamaha Scooter, 2016 Range Rover, and 2016 Jeep Wrangler. Other assets include $15,000 in household goods, $2,500 in electronics, $2,500 in sports and hobby equipment, $1,000 in clothing and $2,500 in jewelry, and $2.00 value of their two dogs.
What’s interesting is how people especially celebrities are literally slammed in the media for undergoing bankruptcy like its a shameful thing. Bankruptcy is in place for ALL U.S. citizens , because of LIFE’s unexpected journey of trail and error.
It doesn’t necessarily mean that the couple is completely broke with a dollar to their name, but it also could mean that they no longer can afford the lifestyle they’ve been accustomed to due to unforeseen circumstances, and a lack of steady income. Duane Martin is a current cast member on BET’s ‘Hollwood Husband’ show and Tichina is currently employed.
This is nothing new under the sun. There are many celebrities that have undergone bankruptcy to reorganize, and restart a new chapter in their lives. Some of those celebrities include, Michael Jackson, Walt Disney, Larry King, Mike Tyson, Willie Nelson, Kim Bassinger, Burt Reynold, Toni Braxton, Donald Trump [companies reportedly filed 4 times] to name a few.
I’m sure this two will be just fine . The actress/singer is currently promoting her new single out ‘Lazy Bitch’ available on itunes now.
One Love PLUMS!