EXCLUSIVE: DMX – Blows off Chapter 13 Bankruptcy, Trustee Demands Case Be Thrown Out
The Dirty can exclusively reveal DMX is close to having his bankruptcy thrown out of court … with him being accused of blowing off a meeting with his creditors and failing to turn over his financial information. Now the trustee is demanding the case be dismissed and the rapper NOT have his debt discharged.
DMX filed his bankruptcy petition on December 6th in Federal Court. His assets include his Mount Kisco, New York home worth an estimated $350k, he claims to own no automobiles, no furniture or household goods, no electronics or guns, no jewelry or clothing worth anything and has no cash on hand or any money in the bank.
DMX’s liabilities include $950,000 owed to Compass Bank, $304,796 in back child support, another $230,898 in support and an additional $1.4 million in family support debt and various other debts for a grand total of $2,030,970.
According to the docs, DMX is filing for bankruptcy in an attempt to stop a foreclosure sale of his New York home … which will be put on hold until the outcome of the bankruptcy.
Then earlier today, the trustee presiding over DMX’s bankruptcy filed docs to dismiss the entire case … which if granted would leave the rapper to fight off the foreclosure of his home on his own. The trustee explains DMX has failed to comply with the bankruptcy rules and created an unreasonable delay against his creditors … by failing to file a repayment plan, blowing off hearings and not handing over financial docs to the trustee including tax returns and income.
He points out to DMX’s previous bankruptcy petitions … all of which were dismissed prior to being completed for the rapper failing to give the court trustworthy information regarding his income.