Forty-two-year-old rapper DMX is bankrupt. DMX filed for Chapter 11 bankruptcy citing $1 to $10 million in debt with $50,000 in assets. Some of the debt includes $1.24 million in back child support.
In April, DMX appeared on an explosive episode of Iyanla Vanzant’s OWN original series, Fix My Life, in which his son briefly touched on their personal issues including money problems.
DMX has been silent on the musical front and more notably for his legal and financial problems. Last week, he was arrested for suspicion of driving under the influence and driving without a license in South Carolina. Simmons was released after on $1,235 bail.
A brief summary of his publicist’s statement yesterday:
“DMX’s financial strains have been inhibiting his career for several years. … 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.”
