Jay Z’s friend and former label mate Memphis Bleek has reportedly filed for Chapter 13 bankruptcy.
According to Bossip.com, the former Roc-a-Fella rapper filed the petition March 14 in U.S. Federal Court in New Jersey. His total assets—which include a Jersey Home, a Chevy Impala, clothing, and wedding rings—total $274,000; however, his liabilities total $350,000. He also claims he has only $100 in cash, as his Chase business account is empty, and his business “Get Low Touring” is worth nothing.
In the filing, Bleek claims to earn just $5,911 a month while his expenses total $5,377 month leaving him with just $534.
Bleek owes $355,000 on his mortgage, $24,000 on the Chevy Impala, $9,000 to the IRS, and $13,000 to Monmouth County Superior Court.
A ruling on the bankruptcy is pending.
