If you happen to be a friend of Bow Wow‘s I would strongly suggest that you advise him to turn off the Google alerts for his name until the top of next year. Headlines detailing his financial woes are continuing to follow Dickie Roberts: Former Child Star.
A Georgia bank is suing the new 106 & Park co-host for more than $20,000 in “repossession expenses” after the financial institution seized and sold the 25-year-old’s Lamborghini Murcielago. Swerve not included.
The Thirty Mile Zone gang reports SunTrust bank filed the suit against the YMCMB rapper, claiming he took out a $300,165 business loan and agreed to make 84 monthly payments of $4,730. Suzie Orman would’ve denied the hell out that deal, girlfriend.
According to the bank records which were filed along with the suit, Bow Wow fell behind on the loan payments last year. The bank repossessed his sweet ride, pocketing $161,000 in the process.
The fun with numbers doesn’t stop there. Since the bank clipped on “repossession expenses” costing $25,000, he still owes $21,371.
I probably don’t have to give the reminder that times are hard for everybody but I will in a bid to show Lil Mama a grain of empathy. That being said, the young, fly and flashy (get into that Jermaine Dupri album reference I just served you) with fledgling fame and checking accounts better learn how to live within their financial means — quick. Otherwise these types of stories will continue to happen everyday.
Mashonda, pat yourself on the back. Ain’t shit wrong with driving around in a Geo Metro in 2012. At least it’s paid off and you can afford the insurance premium!
Video: Soulja Boy vs Bow Wow (Lambo Edition)