Millions in debt and facing foreclosure, Lil Kim seeks bankruptcy protection

by Staff, June 11th, 2018

According to The Blast, Lil Kim, born Kimberly Jones, is in debt to the tune of over $4 million.

Jones’ creditors include her mortgage company, the IRS – she owes $1,845,451 in back taxes, and her attorneys.

Lil KimCourt filings show Jones makes $18,286 per month, with $5,500 remaining after monthly bills totaling $12,784.

Along with the money owed to the IRS, Jones also has a $2 million mortgage, and $186,000 in legal bills.

Among her assets, she lists a New Jersey mansion valued at $2.3 million, $150,000 in investments, a 2005 Bentley Continental GT with an estimated worth of $52,6000, $25,000 worth of furnishings, $5,000 in electronics, and a 2000 Mercedes Benz valued at around $4,200.

Jones asked the court to allow her to restructure her mortgage and stretch out monthly $5,500 payments to creditors over the next five year.

The bankruptcy trustee has reportedly rejected the offer.

Jones is scheduled to appear before a bankruptcy judge in July.

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