Black Entertainment : Dionne Warwick files for bankruptcy: Singer owes over $10 million, has just $25K in assets

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Dionne Warwick files for bankruptcy: Singer owes over $10 million, has just $25K in assets

After 50 years in show biz, the singer said all she had to show for it was $1,000 cash; assorted pieces of decades-old furniture; clothes; artwork and paintings; two fur coats, and two pairs of diamond earrings.

The vast majority of her debt is $10.2 million in tax claims from the IRS and the state of California. She also owes a former manager about $500,000, and ran up a $20,000 Visa card debt, court papers showed.

She listed her average monthly income as $20,950, and her typical monthly expenses as $20,940 — leaving Warwick with just $10 each month.

Read more: http://www.nydailynews.com/entertainment/dionne-warwick-flat-broke-article-1.1299283

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