Tisha Campbell-Martin and Duane Martin found themselves at the center of a major Hollywood scandal yesterday when news surfaced that the beloved couple were in dire straits financially after filing for bankruptcy with over $15 million in debt. Now, Campbell-Martin has finally opened up and shared details about how she and her husband ended up filing for bankruptcy.
As previously reported, The Martins filed for Chapter 7 bankruptcy over a list of debts owed to multiple companies. The Martins reportedly earned $7,655 monthly with their combined income. However, the couple was reportedly spending nearly $17,000 a month.
Reports also claimed that the couple owed hefty debts to companies like American Express ($39,000); $455,000 to City National Bank; $538,000 to Comerica Bank; $500,000 for loans given to their company XE Visions; $400,000 for a company called Money Real Estate. And that doesn’t include the thousands of dollars the couple owed on multiple new cars, as well as student loan debt for a nephew. The reports claim that at the time of filing, the couple only had $200 in cash and $173 in a credit union.
Shortly after news of the bankruptcy surfaced, Campbell-Martin went on Twitter and posted a series of now-deleted tweets explaining to her followers why she and her husband filed for bankruptcy.
Source: Rolling Out | Nicholas Robinson