Real Husbands of Hollywood star Duane Martin and his wife, Martin actress Tisha Campbell-Martin are in some intense financial debt — so deep that they were forced to file for bankruptcy at the top of the year in California.
According to The Daily Mail, the couple claimed they owe more than $15 million and currently have only $313,000 in assets.
They also say their joint monthly income is $7,655, which sets them back as their monthly expenses total to more than double that amount at $16,953.
The report also states that their liabilities include millions to banks, back taxes owed over the years, and more than $125,000 collectively owed on a 42-month leased 2016 Range Rover, a 2016 Jeep Wrangler, and a 2014 Range Rover.
Court docs also show they owe $208,611 in tax debt and $113,000 in student loans.
The bankrupcy is currently pending in Federal Court.
Here’s a quick snapshot of what the Martins say they owe: $39,000 to American Express; $455,000 to City National Bank; $500,000 in loans given to their company, XE Visions; $400,000 to a company called Money Real Estate; $17,000 in student loans they borrowed for a nephew; money for a 2016 Range Rover they leased for $43,000; money for a 2014 Range Rover they leased for $67,000; and money for a 2016 Jeep Wrangler they leased for $17,000.
Rolling Out reports that Campbell-Martin took to Twitter on Monday to invoke some humor into this news concerning their money problems.
“Hey anybody got nickel? Yeah guys it’s not like what’s being reported at ALL but it’s funny tho,”
she tweeted but then later took down, according to the news site.
She reportedly went on to explain that she and her husband took out some bank loans, the market crashed and they weren’t able to reach an agreement with the banks on a new payment plan for the loans.
“Quick statement, have y’all seen the movie ‘The Big Short?’ … Yup we did file but its becuz my hubby n I invested n real estate, got involved w some loans b4 the BANKS caused the market to crash … Obviously couldn’t agree 2 a settlement with the banks, so we filed to reorganize, that’s all, but I so appreciate the genuine concern 4 my fam. I got the best supporters ever thanks TWITTER FAM,”
Campbell-Martin wrote, according to Rolling Out.
The couple, who share two children together, Xen and Ezekiel, currently owe over $14 million in unpaid taxes, loans, car leases, credit card bills and other government debts.
Following all the chatter, Tisha took to Twitter to confirm that she and her husband did file, but that it came down to not being able to
“agree 2 a settlement with the banks”
after taking out loans for real estate investment.
“We got involved with some loans before the crash, couldn’t agree to a settlement with the banks, so we filed to reorganize,”
the statement read.
Apparently, as of January, the married couple only had $200 in cash and $173 in a Credit Union.