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Duane Martin and Tisha Campbell-Martin Break Their Silence on Bankruptcy

Duane Martin and Tisha Campbell-Martin Break Their Silence on Bankruptcy

Find out the reason behind their decision to file.

PUBLISHED ON : APRIL 4, 2016 / 03:30 PM

We reported earlier today that Real Husbands of Hollywood star Duane Martin and his wife, Martin actress Tisha Campbell-Martin filed for bankruptcy after claiming they owe more than $15 million. Now, the couple released a statement:

"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.

As reported earlier, in addition to owing upwards from $15 million, the couple currently has $313,000 in assets with a joint monthly income of $7,655. Their monthly expenses total more than that amount, hitting at $16,953.

Their reported liabilities also include millions to banks, back taxes owed over the years and more than $125,000 collectively owed on three vehicles, including a 2016 and 2014 Range Rovers.

The bankruptcy is currently pending in Federal Court.

Check out the break down of the Duane Martin and the Tisha Campbell-Martin drama by BET Breaks below:

BET.com is your No. 1 source for Black celebrity news, photos, exclusive videos and all the latest in the world of hip hop and R&B music. 

Written by John Justice

(Photo: Axelle/Bauer-Griffin/FilmMagic)

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