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Kimberly Denise Jones, also known by the name Lil Kim, owes $4 million. Lil Kim initially petitioned for Chapter 13 insolvency a month ago and offered to sell her New Jersey mansion to pay off her debts.
Court records say that her assets add up to $2,573,300 and her debts add up to $4,084,841.60. She owes $1,845,451 in back taxes as well. According to The Blast, Kim’s monthly wages add up to $18,286.
Lil Kim’s proposition is that she would pay back her debts in installments of $5,500 for 60 months. She has additionally proposed auctioning off her New Jersey home. Up until now, the proposition was rejected but the case is pending.