'Martin' Star Tisha Campbell & Her Husband Duane Martin File For Chapter 7 Bankruptcy, Citing 15 Million In Debt
The 47-year-old actress and her 50-year-old actor/husband, Duane Martin, (who starred in Kevin Hart's Husbands of Hollywood show) are reportedly drowning in over $15 million in debt with only $313,000 in assets between the couple, according to the Daily Mail.
The couple released a joint statement after the news broke earlier:
"We got involved with some loans before the crash, couldn't agree to a settlement with the banks, so we filed to reorganize."
They also share over $300,000 in personal and real estate property, including a $65,000 Los Angeles house, three cars and five motorcycles, according to bankruptcy papers obtained by E! News.
They own Xen Restaurant in Sherman Oaks, Calif and the production and loan out company XE Visions, Inc. However, the couple claims in the filing that the restaurant no longer turns a profit, according to E!.
E! also states, Tisha and Duane's future income rides heavily on The Dr. Ken Show's renewal on ABC, for which Tisha is a main actress.
Currently, the couple brings in nearly $8,000 in monthly income and spend roughly double that amount in monthly expenses. They currently owe over $14 million in unpaid taxes, loans, car leases, credit card bills and other government debts.
Tisha and Duane reportedly only have $200 in cash and $173 in a credit union.
Follow Ooooooo La La!
Comments
Post a Comment
Add your comments and thoughts below and click 'subscribe by email' button to receive follow up responses and other comments on this post.