DMX’s Bankruptcy Claim In Jeopardy Of Being Thrown Out

24
Oct
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It looks like DMX is going to have to figure out how to pay off 10 million dollars in debt…
Early this summer, the rapper filed for Chapter 11 bankruptcy claiming less than $50,000 in assets and over $10 million in debt now it looks like his case is in danger of being thrown out because of multiple inconsistencies in his financial reporting.
RhymeswithSnitch reports:
DMX’s case is being challenged because he has failed to show up to creditors meetings and submitted contradicting accounts of his financial situation. In one instance DMX claimed he makes $5,000 a month and in another instance claiming $1,600 a month.The rapper also claimed $0 in clothing assets while listing $1,000 a month for clothing expenses.

The Justice Department wants DMX’s Chapter 11 case, which allows restructuring of debt, thrown out altogether or at the very least changed to Chapter 7 which requires asset liquidation.

 Stay Tuned.
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