Bow Wow's Gone Bust: Back Taxes, Child Support, a $20,000 Lawsuit by SunTrust Bank
There aren't enough Johnson Family Vacation residual checks to pull Bow Wow out of the financial web of shit he's spun for himself since dropping "Lil" from his name.
The Atlanta-based rapper-tuned-actor is just one parachute pantsuit away from inheriting the world's worst money manager award from MC Hammer, failing miserably at the whole balancing a checkbook thing and perpetually digging himself into a bigger debt crisis than Greece.
According to a new lawsuit filed by SunTrust Bank, Shad Moss (Bow Wow) owes the financial institution upwards of $20,000 in "repossession expenses," TMZ reports. It's just the latest sign that Bow Wow's gone bust.
They've already reclaimed $161,000 of Bow Wow's $300,165 loan and repossessed his Lamborghini Murciélago. Now Sun Trust wants to Bow Wow to pay the wrecking crew and repo man for their work. SunTrust is economically screwing the 25-year-old rapper, not only fucking his life up with the long dick of big business, but making him pay for the motel room too.
Bow Wow apparently hired an Alzheimer's research lab rat to do his taxes in 2006, 2008, and 2010 because IRS didn't collect shit those years from Team Bow Weezy. It was reported earlier this year that a lien was imposed against Bow Wow in Florida after he failed to pay $91,105.61 in taxes.
When Bow Wow said, "I felt like I wanted to be on child support," on Philadelphia's Hot 107.9, he may have literally meant that he wanted someone to shoot him a couple grand a month to help pay his baby mama. Homie's only got $1,500 in the bank and owes his child's mother three stacks a month. That's serious cheddar for a guy who thought it'd be a good idea to pay back a $300,000 loan over 84 months.
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