Damon Dash filed for Chapter 7 chapter in Florida as he seeks safety from greater than $25 million in money owed principally tied to unpaid taxes, little one help and authorized judgments.

The 54-year-old Roc-A-Fella Records co-founder submitted a 56-page petition to the U.S. Bankruptcy Court for the Middle District of Florida on Thursday (September 4), itemizing simply $4,350 in private property.

That features a $500 cellphone, $2,500 in jewellery, clothes, two firearms and $100 in money. He reported month-to-month bills of $5,200 and no revenue.

Court filings present Damon Dash owes over $8.7 million in again taxes to New York State and the IRS, with money owed courting again to 2005. The New York State Department of Taxation and Finance alone is in search of $9.65 million, whereas Los Angeles County needs $5.79 million.

The New Jersey Division of Taxation is pursuing $3.5 million from the early 2000s, bringing the whole to over $19 million that’s because of the Federal Government.

Damon Dash additionally owes greater than $647,000 in unpaid little one and spousal help, together with obligations to ex-wife Rachel Roy and Cindy Morales. The New York City Department of Social Services claims one other $487,000 in arrears and academic prices.

The submitting contains over $5.5 million in unsecured claims, comprising lawsuits, unpaid wages and authorized charges. Among the collectors are filmmaker Josh Webber and Muddy Waters Pictures, who won a $4 million default judgment against Dash in 2025 over the film Dear Frank.

Photographer Monique Bunn is owed $30,000. Producer Edwyna Brooks is listed at $78,000, whereas lawyer Christopher Brown is owed $100,000.

Government companies are listed as Dash’s largest secured collectors. He disclosed that his enterprise entities — together with Dash Films Inc., Poppington LLC and Roc-A-Fella Films Inc. — presently maintain no worth.

In 2024, New York officers auctioned Dash’s one-third stake in Roc-A-Fella Records for about $1 million to assist repay his tax invoice. However, proceeds have been redirected to cowl again taxes to New York and $145,096 in little one help, leaving different collectors unpaid.

The courtroom has not but scheduled a collectors’ assembly. If accredited, the case may consequence within the liquidation of Dash’s remaining belongings.

This isn’t precisely stunning. Damon himself told the court through lawyers that he was considering making this move, which could turn out to be a shrewd business move.

Chapter 7 bankruptcy provides people the chance to hit the reset button when debt turns into unmanageable.

It clears away most unsecured payments, similar to bank cards, medical bills, or payday loans, in just some months. Once that occurs, collectors can’t name, sue, or garnish wages.

The course of additionally alleviates stress instantly by routinely pausing collections, foreclosures, or evictions. Most individuals don’t lose a lot, if something, as a result of the regulation permits them to maintain the necessities they want, similar to a automobile, home goods, retirement financial savings, and generally even a portion of their dwelling fairness.

Unlike Chapter 13, there’s no lengthy compensation plan—also known as a “no-asset” case as a result of collectors obtain nothing in any respect.

While a Chapter 7 submitting stays on a credit score report for as much as ten years, many individuals start rebuilding their credit score inside a yr or two, because the heavy debt is eradicated.

In quick, it’s a fast strategy to get reduction, maintain what issues most, and begin contemporary.

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