Lil Kim says she has been able to get her finances in order and says she no longer needs help from the court to protect her from creditors.
According to court documents obtained by The Blast, the rapper is asking a federal judge to dismiss her bankruptcy.
Lil Kim filed for Chapter 13 bankruptcy back in May 2018. She says the purpose was to save her New Jersey mansion from being foreclosed on. Once she filed for bankruptcy, it put a pause on all legal actions over the home.
The rapper says since she filed for bankruptcy, and had time to obtain a lawyer, she has been able to get a loan modification for her home.
Kim says she no longer needs the bankruptcy and has her finances in shape … for now.
As The Blast first reported, Lil Kim failed to make her June 2018 mortgage payment of $10,155.47 on her mansion in Alpine, New Jersey. A creditor in her bankruptcy asked permission to auction off the house and use the money to help pay off her bankruptcy debt.
They demanded the judge to allow them to seize the home and sell it off to the highest bidder, explaining the property is worth at least $2 million.
Kim pleaded with the judge to not grant their motion and said she was committed to saving her home and reorganizing her debts.
At the time of her bankruptcy filing, Lil Kim said she had assets totaling $2,573,300 and liabilities in the amount of $4,084,841.60. She owed $1,845,451 in back taxes alone.