Memphis Bleek Files for Bankruptcy: Report

Memphis Bleek

Memphis Bleek is... broke?

Shocking, right? Especially since Jay Z previously declared that as long as he's alive, Bleek would be a millionaire.

On Kanye West's 2005 cut, "Diamonds From Sierra Leone (Remix)", Hov raps: "Bleek could be one hit away his whole career / As long as he’s alive, he’s a millionaire / And even if I die, he’s in my will somewhere / So he can just kick back and chill somewhere / Oh yeah, he don't even have to write rhymes."

Well, Jay didn't live up to those lyrics, because according to Bossip, Bleek has filed for Chapter 13 bankruptcy.

The report says he filed back in March in U.S. Federal Court in Jersey, claiming he owns just $274,000 in total assets (including a Jersey Home, a Chevy Impala, clothing, and wedding rings), while holding $350,000 in liabilities.

Bleek reportedly earns $5,911.94 a month -- $571 in royalties and $5,340.94 from his business -- while his monthly expenses amount to $5,377, leaving him with $534.94 after bills.

The bankruptcy is pending. He currently owes $335,000 on his New Jersey house, $24,000 on his Chevy Impala, $9,000 to the IRS, and $13,000 to Monmouth County Superior Court.