UPDATE: DMX has debts between seven and eight figures, including a $1 million-plus bill in child support. His publicist claims the filings will allow overseas touring.
Former superstar rapper DMX has had a challenging week. Following video footage surfacing of a DUI arrest in South Carolina last Friday (July 26)—which DMX's publicist inituially denied, the onetime multi-platinum Ruff Ryders/Def Jam Records star has filed for bankruptcy.
The Wall Street Journal reports that the Yonkers, New York native filed documents yesterday (July 29) in Manhattan court stating that he has $50,000 in assets, while owing between $1 and $10 million in debts. X told authorities he filed for Chapter 11 “to enable me to reorganize my financial affairs.”
DMX's debts include over $1 million in child support and over $20,000 in automobile lease payments.
Last year, DMX released his seventh album, Undisputed, which was his first independent release. Including involvement from longtime producer Swizz Beatz and Machine Gun Kelly, the album was a Top 20 debut.
Other Hip Hop artists to file for bankruptcy include MC Hammer, Young Buck and Xzibit.
UPDATE: On behalf of DMX, the rapper's publicist, Domenick Nati, told HipHopDX the following: "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 oversees. We are currently planning a tour in Europe and Africa for the fall of 2013."
Original article: http://www.hiphopdx.com/index/news/id.2 ... -statement
