Lil Kim has filed for Chapter 13 bankruptcy citing millions in outstanding debts. Kim allegedly filed last month, but details about her finances were reported by multiple news outlets on Friday. According to TMZ, Kim is $4 million in debt, which she offered to settle with a $5,500 monthly payment plan. Her outstanding bills include a $2.5 million loan for her New Jersey home, $1,845,451 million in unpaid taxes, and $186,000 in legal bills. She also offered to settle the debt by selling her home, or adjusting her mortgage payments, according to the site. The bankruptcy documents reportedly indicate that Kim is also the sole financial provider for her 3-year-old daughter, Royal Reign. A bankruptcy hearing is scheduled for next month. Kim is working on a new album slated to drop somtime this year.

Lil’ Kim Files For Bankruptcy, Over $4M In The Red

Via hiphopwired.com
 

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