It seems as if it’s every other day that we hear about celebrities finding themselves in the midst of icky court battles with financial institutions over large sums of unpaid money. Unfortunately, the latest poster child for mismanaged funds is our girl Mary J. Blige, reports the New York Post.
It is being alleged that the 41-year-old Queen of Hip Hop Soul defaulted on a $500,000 Bank of America loan. According to the Manhattan Supreme Court, the “Mr. Wrong” singer took out the loan back in 2005 and had faithfully made payments all the way up until June of 2011. That’s a huge problem, considering it’s February 2013.
As as result of her failure to pay off the rest of her loan, the nine-time Grammy Award winning singer now owes the financial institution $511,000, which includes a $497,000 unpaid principle in addition to interest. So far, no representatives from Blige’s camp have returned any phone calls or released any statements regarding the matter.
Hopefully, this is all some sort of misunderstanding and Mary can pay off her debt, clearing her name. But, the proof appears to be in the pudding, espcially since this isn’t the first time the New York native has defaulted on a hefty loan.
I’m always curious as to how regular people with modest salaries understand and recognize what happens when you don’t pay your bills, but celebrities living lavish lifestyles don’t get it. When things like this happen is the actual celebrity to blame or their financial advisor or accountant? Do they forget they owe money or do they just flat out not care? I wish someone would do a one-time television special on the subject. Inquiring minds want to know. Possibly, it could replace the vacant slot where Shawty Lo’s All My Babies’ Mamas would’ve aired…
What do you make of Mary’s latest financial woes?
Jazmine Denise is a news writer for Madame Noire. Follow her on Twitter @jazminedenise