Lil' Kim finally breaks her silence after filing for bankruptcy
She recently filed for bankruptcy but the rapper’s spirits is far from low as she shares a positive message on social media despite turbulent times.
For the first time since admitting to her $4 million debt that led her to file for bankruptcy, Lil' Kim is speaking up and reveals she’s far from shaken up.
News of the rapper’s financial woes came to light this week after The Blast uncovered court documents revealing her intention to file for bankruptcy last month. According to the papers, she accumulated liabilities amounting to over $4 million, with total assets of about $2.5 million.
HSBC reportedly took steps in foreclosing the 43-year-old’s Alpine, New Jersey Mansion in 2010 but she tried to salvage it through mediation since 2015. However, as off May last year, she has failed to make her payments. Thus, her house is set to be auctioned off by the end of this month.
With all that happening, Kim is still keeping a positive outlook as her recent IG live feed reveals. She told her followers,
“I got something for all y’all. You can’t quit,” she said. “If you’re God’s child, you can’t be touched, boo. Y’all can get all the voodoo dolls y’all want. It ain’t gonna happen.”
Kim’s financial problems reportedly began when she went to prison in 2005. She was prosecuted for lying about a shooting involving her former Junior M.A.F.I.A. partners Damion “D-Roc” Butler and Suif “Gutta Jackson.During her incarceration, her ‘The Naked Truth’ album suffered from lack of publicity making it her last official LP.
Fresh from her release from prison, she was met with another setback in 2008 when her record label Brookland Media sued her for $2.5 million. At the time she could not produce an album, prompting her to drop four mixtapes in the succeeding years.
Last March, the record producer released a new single, ‘Spicy’ which features Fabulous. She’s also currently working on a new album which will hopefully help dig herself out of her financial hole.