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Lil Kim heading for bankruptcy – despite earning thousands each month!

While it is fair to say Lil Kim’s glory days seem to be behind her, it is still surprising to hear that the rapper is looking at going bankrupt, despite bringing home over $18,000 each month.

Documents show that her spending may have gotten out of control as she claims to spend almost $13,000 a month and has just $2,500 in cash to her name with nothing saved or in a retirement account.

With a back tax debt of $1.8 million and just $5,000 worth of clothes and $25,000 worth of jewelry, along with a 2000 Mercedes Benz worth $4,200 and a 2005 Bentley worth $52,000, Kim is looking in a bit of a financial mess.

The rapper, real name Kimberly Jones, also possesses $25,000 in furniture and around $5,000 in electronics but is set to have a New jersey mansion auctioned off in October following foreclosure.

It’s the taxes she owes that must really be hurting Kim, so hopefully the sale of that mansion could dent that debt, but it still sounds like she needs to tighten up on her spending…

 

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