Earl Simmons, aka DMX, lists less than $50,000 in assets and $1 million to $10 million in debt. According to court papers, the rapper filed for bankruptcy “to enable me to reorganize my financial affairs.”
The rapper owes $1.24 million in child support and more than $21,000 on a car lease.
His rep tells RumorFix, “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.”
When X was in jail, his previous management was not making child support payments, which made the hip hop legend ineligible for a passport, rep Domenick Nati explains.
“The purpose of this bankruptcy filing is for reorganization so he can perform for his fans overseas,” he adds.
X is currently planning a tour in Europe and Africa for Fall 2013.