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

Lil Kim

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts