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Court Rules on Tisha Campbell-Martin and Duane Martin's Bankruptcy

Court Rules on Tisha Campbell-Martin and Duane Martin's Bankruptcy

Big news for the couple.

Published November 17th

Good news for Duane and Tisha Campbell-Martin.

According to Bossip, the couple can breathe again as a federal court judge ordered to have most of their $15 million debts completely erased.

Back in January, they filed for Chapter seven bankruptcy, owing $65,000 in real estate and $258,000 in personal property. Though that doesn't sum up to the reported amount, the admitted that they were to their necks in debt, summing up to more than $15.1 million.

Following the filing, the trustee overseeing the case sued Duane and Tisha and accused them of rerouting their funds to avoid paying the money to their creditors. After pending for months, the case was picked up again this week after the trustee filed documents stating he worked out out a settlement with the couple.

The Martins and the trustee attended a mediation session to work things out and it is reported that everything went well for the couple.

They agreed to pay the trustee a sum of $338,000, which consists of Tisha's Dr. Ken paychecks ($98,000), post-bankruptcy payments ($185,000), and "pre-rent" they paid for their current home ($55,000). They will also hand over all the rights to their residuals to the trustee, which totals $125,000. Over time, they will have the chance to buy back the residual rights.

In addition to this, the federal court judge ordered on November 14 to have the couple's debt in their bankruptcy be discharged. This will have their debt wiped completely clean for the most part, with the exception for most taxes.

Get the rundown on the Martins' bankruptcy in the BET Breaks video, above.

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Written by John Justice

(Photo: Brian To/WENN.com)

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