There was once a time when Damon Dash could buy anything he wanted and not think about the price tag. He lived a lavish lifestyle, but those days are over.
While his former Roc-A-Fella Records partner, Jay-Z, is worth nearly a half billion dollars, Dame is on the verge of being out on the street as he faces eviction from his Carmel, New York home.
While in court on Tuesday, the former mogul detailed some of his current financial problems.
“I am currently several months behind in paying my personal bills,” he wrote in the 5-page filing. “For instance, I am currently over $100,000 behind in rent for the only home in which I live and at risk of being evicted.”
Dame and ex-wife Rachel Roy
Dame was back in Manhattan Supreme Court on Thursday fighting a charge of ignoring a 2008 lawsuit from a garment industry lender seeking payback for a $237,078 loan.
He asked the judge not to garnish his wages citing other financial commitments, such as alimony and child support.
- He pays $24,000 every three months to his ex-wife, fashion designer Rachel Roy, for child support of their two kids, and to cover money owed on the lofts.
- New York state forces Dash to send another $4,341.10 per month for support of his son, Christian.
- He paid nearly $20,000 in garnished wages in late 2012 for other debts.
- And he faces a pending $40,000 tax payment for business earnings.
"I'm an independent businessman and this is what comes from business," Dash said in an email from his attorney, Gregg A. Pinto. "I have the guts to fight my battles on my own and it's entertainment to everybody else because I'm so cool about it."
In 2008 Dame lost his leased SUV after he missed his $714.99 monthly payment. In 2010 he lost a pair of multimillion-dollar Tribeca lofts to foreclosure in 2010
Source NY Daily News