As if her past court issues that landed her in prison weren’t enough, Lil’ Kim is now fighting to keep herself financially afloat after accruing over $4 million in debt by filing for Chapter 13 bankruptcy.
The Grammy Award winner, whose real name is Kimberly Jones, filed for Chapter 13 protection in New jersey after the bank foreclosed on her Alpine mansion and the IRS allege that the Hip Hop Queen B owes $1.5 million in back taxes. It was reported by The Daily News that Kim filed for bankruptcy only three days before her 6,000 square foot mansion was set to go up for auction. A new listing on Auction.com that remained active Friday said the date for public bidding was rescheduled to June 28.
In her filing, she says she’s $664,474 behind on payments for the $2.3 million house and claims her gross income has dropped tremendously in the last of couple years; from $823,659 in 2016 to $398,000 last year.
It’s also being claimed that Kim owes almost $200,000 in legal fees.
The former girlfriend of slain rap icon Notorious B.I.G. says her assets include a 2000 Mercedes worth $4,200, a 2005 Bentley worth $52,600 and jewelry worth $25,000.
Jones lists her cash on hand as $2,500.
Court documents list the Hardcore emcee as owing more than $4 million in secured and unsecured debts.