More than a year after Lil’ Kim filed for bankruptcy, the rapper is asking that the case be dismissed.
The request was made in a recent court filing obtained by The Blast Tuesday, June 4. In the documents, Kim says she’s been able to organize her finances and as such, she is no longer in need of assistance from the court to shield her from lenders. She wants a federal judge to dismiss the case.
The performer filed for Chapter 13 bankruptcy protection in May 2018, and at the time she had liabilities in excess of $4 million. Her Alpine, New Jersey, mansion was facing foreclosure, as she owed $2 million on the loan, and owed $1.8 million in back taxes and another $186,000 in legal fees.
The Chapter 13 filing was objected to as her secured and unsecured debts were each more than $2 million. Kim later requested her filing be converted to Chapter 11 bankruptcy, The Blast reported.
A creditor in her bankruptcy requested permission to put Kim’s mansion up for auction — with bids starting at $100 — in an effort to help the rapper settle her debt. They stated the home is worth a minimum of $2 million. However, Kim begged the judge not to auction off her house, explaining she filed for bankruptcy in an effort to save it from being put on the auction block and pay off her outstanding bills.
“I remain committed to saving my home and reorganizing my debts,” she said in a June 2018 court filing.
The Chapter 11 conversion allowed Kim to keep her abode by reorganizing her debts and establishing strategies to pay what she owes.
As Kim moves on the process to get her finances together, she recently contended with an issue of her album being delayed. The star released the single “Go Awff” on May 17, but fans have continued to wonder when they can expect its accompanying album, pestering her with questions on Instagram.
Back in April, Kim disclosed her label pushed back the release of the star’s first new album in 15 years.
“If you have an issue take it up with them,” she wrote on her Instagram Story at the time. “This has nothing to do with me. I am beyond upset with this and couldn’t wait to show you all what I’ve been working on.”
