Tuesday, May 28, 2024

Da Brat Files for Chapter 11 Bankruptcy; Reportedly $7.7 Million in Debt

Da Brat (Instagram)
Da Brat (Instagram)

*Da Brat, reportedly over $7 million in debt, has filed for Chapter 11 bankruptcy, according to The Blast.

Documents show that the rapper says she has assets totaling $108,700.65, but her liabilities amount to $7,782,249.57.

Among her liabilities is the $6.4 million owed to former Atlanta Falcons cheerleader Shayla Stevens, who won a judgment against the rapper back in February 2014 after Da Brat hit her with a bottle in a nightclub.

The rapper owes another $1,255,128 to Sony Music and $12,000 to Ally Bank, according to The Blast.

Additionally, she lists $2,284 in credit card debt, $2,284 owed to the Georgia Department of Revenue and an unknown amount to the IRS.

Her assets include a 1999 Mercedes 238i ($5,000), a 2014 BMW 328i ($15,000), and a 2016 Jeep Wrangler ($23,000). Da Brat also lists furniture and household goods worth $8,000, electronics in the amount of $3000, a treadmill and elliptical for $2000, $20,000 in clothing (which she notes is necessary for her job), three dogs (listed as $0), two necklaces worth $15,000, and various royalty agreements with an unknown value.

Her monthly income as an entertainer/radio personality is listed at $9,319 but her expenses total $10,506.55 a month, leaving her in the hole every month by $1,187.

The rapper has earned $75,000 so far this year, and a total of $106,00 in 2017 and $92,000 in 2016.

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