DMX filed for Chapter 11 bankruptcy protection, according to court records. The rapper only has a net worth of less than $50,000 in assets, reported the Wall Street Journal.
Born Earl Simmons, DMX filed for a Chapter 11 protection, which says he is between $1 million and $10 million in debt.
DMX, who lives in Yonkers, New York, owes more than $1.24 million in child support and more than $21,000 on an auto lease.
“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 [sic]. We are currently planning a tour in Europe and Africa for the fall of 2013,” Domenick Nati,a representative for DMX, told the Journal.
The filing comes just a few days after he was arrested on suspicion of driving while intoxicated and not having a license, according to reports.
DMX was arrested on Friday morning in South Carolina, TMZ reported.
“He was arrested early this morning but quickly released,” Nati told CNN last week. “X was given a breathalyzer test and easily passed it. He is back at his home in South Carolina and we are continuing our focus on his upcoming album and acting roles.”
