The Queen Bee is in a financial quagmire. Lil’ Kim has filed for bankruptcy, citing debt totaling over $4M.
According to TMZ, Kim owes $2 million for a loan on her New Jersey home as well as $1,845,451.74 in unpaid taxes. She is also in for $186K in legal bills.
You may recall that Lil’ Kim’s Alpine, NJ mansion was going up for auction. The bank had seized the property.
Kim has reportedly offered to drop $5,500 a month to a creditor to work things out, but a bankruptcy hearing is scheduled for July.
It’s a safe bet that fans can expect a new album and tour so Kim can get some income flowing.