The Queen Bee is in a financial quagmire. Lil’ Kim has filed for bankruptcy, citing debt totaling over $4M.
According to TMZ, Kim owes $2 million for a loan on her New Jersey home as well as $1,845,451.74 in unpaid taxes. She is also in for $186K in legal bills.
You may recall that Lil’ Kim’s Alpine, NJ mansion was going up for auction. The bank had seized the property.
Kim has reportedly offered to drop $5,500 a month to a creditor to work things out, but a bankruptcy hearing is scheduled for July.
It’s a safe bet that fans can expect a new album and tour so Kim can get some income flow.
I’m lilD, and that’s the Word Eye Heard. Not sure how much new music is going to help her…
Follow The Beat On Twitter: Follow @979thebeat
Sign Up For Our Newsletter!