Memphis Bleek has recently filed for bankruptcy, claiming he is broke with only $100 in cash. Bossip reports that Bleek, who hasn’t released an album in over a decade, filed a Chapter 13 bankruptcy on March 14th in U.S. Federal Court in New Jersey. His assets include a Jersey Home, a Chevy Impala, clothing, and wedding rings which total to about $274,000. But the problem is that Bleek’s liabilities are way more than his assets, totaling a whopping $350k.
The former Roc-A-Fella rapper is also claiming that his Chase account is empty and his company, “Get Low Touring”, is worth nothing. Reportedly, Bleek is said to earn $5,911.94 a month, that being $571 in royalties and $5,340.94 from his business. But currently his monthly expenses amount to $5,377, leaving him with only $534.94 after the bills are paid.
The bankruptcy filed is currently pending while he works to create a plan to pay back his creditors. He currently owes $335k for his Jersey home, $24k for the Impala, $9,000 to the IRS, and $13,000 to Monmouth County Superior Court. This is not the first time Bleek has ran into some money troubles. Hopefully he can recover from this situation like he did in 2007 after being hit with a federal tax lien for $37,750.
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