Things aren’t looking good for Lil Kim, according to reports.
Lil Kim has been grinding hard on her comeback, although it hasn’t been as monumental as one would expect. She’s delivered a handful of singles over the past year including “Spicy” with Fabolous. However, she’s also been dealing with some financial issues over the past years. In 2016, her $3 million dollar mansion was on the verge of foreclosure and earlier this year, her home was up for auction with the opening bid starting at $100. Unfortunately, each penny might be worth something to Lil Kim as she’s reportedly filed for bankruptcy.
Lil Kim has reportedly filed for bankruptcy, according to TMZ. Their report claims that she filed for it last month in New Jersey and revealed that she’s currently $4 million in debt. In the legal documents, the $4 million dollar date is from $2 million she owes for the loan on her mansion. She also owes $1,845,451.74 back in taxes as well as an additional $186K for legal bills.
Since then, she’s offered to up $5500 every month to a creditor in order to figure everything out. Her hearing is slated for July.
At this point, she’s working on a new album which is expected to drop sometime int he future. If it ends up being released this year, there’s a good chance that could contribute to getting her out of debt. Hopefully, she figures some way around this.
