All these celebrities living above their means. Actress Tisha Campbell-Martin, 47, and her actor/husband Duane Martin, 50, have filed for bankruptcy, explaining they are drowning in over $15 million dollars in debt with only $313,000 in assets between the couple. According to Daily Mail report, the couple filed for bankruptcy on January 7th in US Bankruptcy Court in California.
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. Currently they only have $200 in cash on hand $173 in a credit union.
The court documents reveal they owe $208,611 in tax debt and $113,000 in student loans. The bankruptcy is still pending in Federal Court.
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.
The couple’s liabilities include $3 million to Broadway Federal Bank for a personal guaranty for a real estate loan they took out, $9.5 million to the City of Los Angeles for a personal guaranty, $82,000 in back state taxes for 2005 & 2011, $86,000 to New York State Department of Taxation and $30,000 to the State Board of Equalization.
Tisha famously starred as Gina on the Martin Lawrence hit sitcom, ‘Martin’ from 1992- to 1997 and her other credits include My Wife & Kids, Everybody Hates Chris and Dr. Ken. Her husband has been equally successful with his career starring in the Real Husbands of Hollywood with Kevin Hart and the hit film White Men Can’t Jump.
The couple have two children Xen, 15 and Ezekial, 6.
