Tisha Campbell and Husband Duane Martin File For Bankruptcy
According to DailyMail, actress Tisha Campbell, known for her role on Martin, and her husband Duane Martin filed for Chapter 7 bankruptcy back in January.
…they are drowning in over $15 million dollars in debt with only $313,000 in assets between the couple
Their assets include $65,000 in real estate, $248,000 in personal property, totaling $313,000 in assets. But they owe over $15,145,387 in liabilities to creditors.
Their joint monthly income is $7,655 but their monthly expenses come out to $16,953.
The couple own a 2014 Range Rover, 1999 Kawasaki Drifter, 2004 Yamaha Scooter, 2016 Range Rover and 2016 Jeep Wrangler. Other assets include $15,000 in household goods, $2,500 in electronics, $2,500 in sports and hobby equipment, $1,000 in clothing and $2,500 in jewelry.
Tisha and Duane also list several companies they run, including a production company where Tisha is paid for her work on the ABC show Dr. Ken Show.’ She explains her contract is up in early 2016 and she isn’t sure they will ask her back.
The court documents reveal they owe $208,611 in tax debt and $113,000 in student loans.
They also owe $43,000 on the 42 month lease for the 2016 Range Rover, $17,000 on the 2016 Jeep Wrangler, $67,000 on their 2014 Range Rover, 39,000 to American Express, $455,000 to City National Bank, $538,000 to Comerica Bank for a judgement against them and $120,000 to a law firm.
In addition, their debts include $17,000 to Sallie Mae for a student loan they took out for their nephew, $2,500 to United Valet related to Xen Restaurant in Los Angeles, $500,000 to their company XE Visions for loans given along with $400,000 to a company named Money Real Estate.
The bankruptcy is still pending in Federal Court.
Peep the court documents below:
Welp, maybe Duane can ask his bestie Will Smith to bail him out.