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Aug
07
Child Support Among Debts Prompting Rapper DMX into Bankruptcy

Child Support Among Debts Prompting Rapper DMX into Bankruptcy

On behalf of Law Offices of Chad M. Hayward, P.C. posted in Chapter 13 on Wednesday, August 7, 2013.

Rapper DMX is famous for his songs “Party Up (Up in Here)” and “Ruff Ryders Anthem” but his artistic career has been grounded, literally, because of his debts. Earl Simmons, better known as DMX, owes $1.24 million in child support, an amount that prevents the U.S. government from issuing the rapper a passport.

DMX’s confinement to the U.S. hinders his career, as most musical artists make the brunt of their profits by touring. DMX’s fame transcends the nation’s borders so this restriction is hurting his already-troubled financial situation. A solution to this is filing for Chapter 13 bankruptcy, which will reorganize his debts and allow the U.S. to issue him a passport.

Few of us fall into the category of once-rich and famous, but many people can relate to DMX’s situation. The rapper’s debts far outweigh his assets, so bankruptcy is a logical choice for him – even without his travel restriction.

While he cannot discharge his monstrous child support debt in bankruptcy, he can get his debts reorganized and begin a new financial life, of sorts. It’s a good move for a man who still has a solid career but simply made choices that proved to be unwise, in hindsight.

To get control of your financial situation and learn of your options, contact an experienced Illinois personal bankruptcy attorney. Don’t delay, your situation will not improve until you take action.

Source: WSJ Blogs, “The Broke And The Beautiful: Party Up (Up In Bankruptcy Court) Edition,” Melanie Cohen, Aug. 2, 2013


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We have office locations throughout the Chicago Area:

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Schaumburg

Oak Brook

Naperville


All calls are routed through our Downtown office for your convenience.

Phone: 312-967-3159

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