Lil' Kim declares bankruptcy after claiming to be over $4 million in debt

Headlines 11/06/2018

Kimberly Denise Jones, aka. Lil' Kim, has filed for bankruptcy due to overdue mortgage payments and unpaid taxes.

Following the foreclosure of her $4 million mansion in New Jersey, she filed for Chapter 13 Protection, which means she is able to make a plan to repay part or all of her debts.

The Brooklyn rapper's income has dropped steadily over the past few years; in 2016 she was said to have made more than $1 million, but last year her annual income was only just over $400,000.

Lil' Kim hasn't released an album in 13 years but has just dropped her track, 'Spicy', with rapper 'Fabolous'.

The former girlfriend of Notorious B.I.G. lists her cash on hand as only $3500 but has plenty of assets, including a 2005 Bentley worth $73,000 and jewellery worth $35,000.

Lil' Kim is a Grammy winner and has sold more than 15 million albums worldwide. She is also an advocate for the LGBTQI community, participating in pride festivals and raising money for the Mac AIDS fund.

Newshub.