Rapper DMX files for bankruptcy

DMX has been in the news recently for the wrong reasons. A few days ago he was allegedly arrested for DUI and now he has filed for bankruptcy.

DMX, birth name Earl Simmons, had been out of the public eye for quite a while until he decided to release an album in 2012 titled Undisputed. The 42 year old rappers absence from music might have cost him when it came to album sales because he only sold 17 thousand units in the first week reports Hotnewhiphop.

As for the bankruptcy, DMX's assets apparently add up to less than $50 thousand and he is between $1-10 million in debt. The debt includes child support, and an auto lease according to Billboard.

His publicist released a statement on the bankruptcy saying "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."

It appears as though DMX will have no choice other than to get back into music with his financial shortcomings. We will see if new music is the route he goes right away, or if he just plans to tour and make money that way.

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