Lil’ Kim Filed Chapter 13 Bankruptcy, But What Does That Mean?
When you hear the word bankruptcy, the first thing that comes to mind is that that the person who filed is broke, but that’s not necessarily true. Celebrities like 50 Cent, Duane Martin and Tisha Campbell Martin and Toni Braxton have filed and the latest to end up in bankruptcy court is Lil’ Kim. Big Momma filed Chapter 13 bankruptcy earlier this week. Contrary to what people think, filing chapter 13 can offer the debtor a bit of financial hope because they have income. Here’s a few things to know about Chapter 13 bankruptcy.