Lil Kim Has Reportedly Filed for Chapter 13 Bankruptcy by Complex News

It appears times are rough Lil Kim. According to legal documents obtained by The Blast, the rapper filed for chapter 13 bankruptcy last month and has accumulated more than $4 million in debt. Kim reportedly owes about $2 million on a loan for her home in New Jersey, $186,000 for legal fees, as well as $1,845,451 in back taxes ($1,469,105 in unpaid federal taxes from 2004-2017, and $376,346.74 in unpaid state taxes from 2004-2017). Kim claims she has a total of $2,573,300 in assets and earns about $18,286 in monthly income—$12,784 of which goes towards expenses. Queen Bee has offered to pay her creditors $5,500 every month for the next five years, and has also proposed to sell her New Jersey home to repay her debts; but according to The Blast, a trustee for the bankruptcy has already opposed her plan. A hearing is scheduled for July. Subscribe to Complex News for More: http://goo.gl/PJeLOl Watch 'Complex Live' on Go90 here: https://www.go90.com/shows/11cHKK3D2iU Check out more of Complex here: http://www.complex.com https://twitter.com/Complex https://www.facebook.com/complex https://www.instagram.com/complex/ https://plus.google.com/+complex/ COMPLEX is a community of creators and curators, armed with the Internet, committed to surfacing and sharing the voices and conversations that define our new America. Our videos exemplify convergence culture, exploring topics that include music, sneakers, style, sports and pop culture through original shows and Complex News segments. Featuring your favorite celebrities, authoritative commentary, and a unique voice, our videos make culture pop.

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