<p>As the ladies of Hip Hop were being celebrated last night for their contributions in music, past and present, it seems as though the men of hip hop just can&#8217;t keep it together! Word on the street is Memphis Bleek just filed for bankruptcy because he owes a ton of debt!</p>
<p>According to Bossip, Mr. Bleek filed for Chapter 13 bankruptcy back in March claiming that he owed $384, 804.91 in liabilities when he only has $247,190 in assets! Funny thing is this a far cry from Jay Z&#8217;s vow to hold Memphis down in his lyrics on Kanye&#8217;s &#8220;Diamonds From Seirra Leone&#8221; remix. Just incase you forgot he said:</p>
<p>&#8220;Bleek could be one hit away his whole career/As long as I&#8217;m alive, he&#8217;s a millionaire/And even if I die, he&#8217;s in my will somewhere/So he can just kick back and chill somewhere, oh yeah/He don&#8217;t even have to write rhymes.&#8221;</p>
<p>&#8230; Interesting.</p>
<p>Anyways, apparently a huge chunk of his asset money comes from his Keyport, NJ house which is reportedly worth $250,000. The 38-year-old, whose real name is Malik Cox, also alleges that he has no money in his Chase business account and only has about $100 cash to his name!</p>
<p>&#8220;The 38-year-old said his valuables include his Keyport, NJ home, which is worth $250,000, a 2014 Chevy Impala valued at $14,000, $2,970 in household goods, $120 in pictures and books,&#8221; Bossip reported. &#8220;He said he has $0 in his Chase business account, $100 in cash on hand and ownership of his company “Get Low Touring,” which is worth $0. Bleek said the only jewelry he owns is he and his wife’s $5,000 wedding rings, and owns $2,000 in clothes.&#8221;</p>
<p>Now here&#8217;s where trying to keep up with The Joneses&#8217; goes wrong..</p>
<p>&#8220;[The] rapper’s liabilities include $335,000 owed on the NJ home, $24,000 on the Chevy Impala, $9,000 owed to the IRS and $13,000 to Monmouth County Superior Court.</p>
<p>The former Roc-A-Fella artist says he is self-employed and runs his company, “Get Low Touring,” bringing in $5,340.94 from his business and $571 in royalties per month.</p>
<p>Every month the rapper spends over $2,250 on his mortgage, $400 on food and housekeeping, $280 in alimony/support payments, $516 for his car payment and various other bills.</p>
<p>Bleek listed his total monthly income as $5,911.94 but his expenses come to $5,377 … leaving him with just $534.94 left over after his bills are paid.&#8221;</p>
<p>If that&#8217;s not enough, it is also reported that he only makes about $571 a month in royalties and only $5340.94 a month from his &#8220;Get Low Touring&#8221; business which totals out to a $5,911.94 monthly income. Unfortunately for him, Cox only really pockets $534.94 since his bills amount up to $5, 377.</p>
<p><img class="alignnone wp-image-20729 size-full" src="https://dev.theshaderoom.com/wp-content/uploads/2016/07/memphis-bleek-files-for-bankruptcy.jpg" alt="memphis-bleek-files-for-bankruptcy" width="700" height="670" /></p>
<p> ;</p>
<p>As for now, the case is still pending as Memphis tries to find a payment strategy for the debt he already knows. Well at least we know he wasn&#8217;t lying when he said he wasn&#8217;t living off of any of Jay Z&#8217;s money! Lets chat below!</p>
<p> ;</p>
<p>TST STAFF: Debra Oh! @The_Ebony_Issue</p>
<p>Source:<a href="http://bossip.com/1332158/when-the-checks-stop-coming-in-memphis-bleek-files-for-bankruptcy/2/">http://bossip.com/1332158/when-the-checks-stop-coming-in-memphis-bleek-files-for-bankruptcy/2/</a></p>
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