(CelebNMusic247-News) DMX Releases Reason For Bankruptcy
Following the news that Earl Simmons aka DMX was arrested for suspicion of driving under the influence is now he’s explaining why he’s filed for bankruptcy!
Over the weekend, DMX’s rep, Domenick Nati, spoke out against the rumors to clear up the facts and set the record straight about what went down with X and the arrest in the early morning hours.
Now DMX is addressing the recent articles that he has just filed for bankruptcy – saying it is NOT for his back child support but indeed for his recent international tour travels the hindered his comeback tour last fall.
Here’s the drop:
According to reports DMX filed for bankruptcy in New York on Monday claiming less than $50,000 in assets and up to $10 million in debt with at least $1.2 million in child support.
DMX has sold more than 30 million records world wide.
However, the 42 year old Hip Hop legend says the bankruptcy was to solve restrictions he’s had on obtaining a passport in a statement sent to AllHipHop by DMX’s publicist Domenick Nati.
The statement reads:
“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. The purpose of this bankruptcy filing is for reorganization so he can perform for his fans oversees. We are currently planning a tour in Europe and Africa for the fall of 2013.”
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