janetDAYZ Posted March 27, 2013 Share Posted March 27, 2013 Dionne Warwick, seen performing in March 2012, has filed for bankruptcy protection, citing IRS debts dating back to the '80s. Do you know the way to bankruptcy? Five-time Grammy winner Dionne Warwick, who earned millions of dollars across a half-century of stardom, now lives on a paltry $10 a month once her bills are paid off. The 72-year-old chart-topping singer is almost broke, with only $1,000 in her bank account and a staggering $10.7 million in debts, according to her 50-page filing last week in U.S. Bankruptcy Court in Newark. The cash-strapped songbird — known for her impeccable versions of Burt Bacharach-Hal David hits like “I Say a Little Prayer,” “Do You Know the Way to San Jose” and “Walk on By” — owns almost nothing from her high-flying past. Warwick claimed just $25,500 in assets, including a two-year-old laptop computer; various gowns and other clothing; an assortment of well-worn furniture, including a decade-old dining room set; and books, artwork and paintings worth $5,000. Her remaining big-ticket items were a pair of fur coats and two pairs of diamond earrings, with a value of $13,000. Though she sold more than 100 million records and racked up 30-plus singles, the papers contain no mention of what happened to memorabilia like her gold and platinum records. Warwick listed her average monthly income as $20,950, and her typical monthly expenses as $20,940 — leaving just $10 in monthly disposable cash. The singer, who still performs live, collects most of her money from Social Security and a pension. Warwick was spotted Tuesday at her suburban South Orange, N.J., home — which costs her $5,000 a month. The vast majority of her debt is $10.2 million in tax claims from the IRS and the state of California. She also owes a former manager about $500,000, and ran up $20,000 in Visa credit card debt, court papers showed. The outstanding tax bills span almost two decades, from 1990 through 2007. A Warwick spokesman blamed the singer’s money woes on the mishandling of her money that goes back to the late 1980s and ’90s. “Due to several consecutive years of negligent and gross financial mismanagement, Dionne Warwick has realized the current necessity to file personal bankruptcy,” said publicist Kevin Sasaki. The enormous tax debt came from penalties and interest on back taxes in which the principal has since been paid off, he said. The singer “has repeatedly attempted to offer repayment plans and proposals to the IRS and the California Franchise Tax Board for taxes owed,” said Sasaki. Warwick, the East Orange, N.J.-born cousin of tragic diva Whitney Houston, burst onto the pop charts with a string of hits through the ’60s, ’70s and ’80s. In 1971, she signed a $5 million recording deal with Warner Bros. records — then a record sum for a female recording artist. She joined Elton John, Gladys Knight and Stevie Wonder for the 1985 benefit song “That’s What Friends Are For,” which raised more than $3 million for AIDS research. Warwick also appeared on the celebrity-studded “We Are the World” single to raise money for African famine victims. The one-time voice of the Psychic Friends Network should have seen the hard times coming: Warwick had already filed for Chapter 11 protection in California in 1993. That case was resolved in 1998 after Warwick surrendered her BMW 535i and two other vehicles. With Edgar Sandoval Read more: http://www.nydailynews.com/entertainment/dionne-warwick-flat-broke-article-1.1299283#ixzz2OkOsn1lt Quote Link to comment Share on other sites More sharing options...
hotboy06 Posted March 27, 2013 Share Posted March 27, 2013 Heard about this yesterday..and of course twitter was being shady! It's so sad that is all she has... Quote Link to comment Share on other sites More sharing options...
janetDAYZ Posted March 27, 2013 Author Share Posted March 27, 2013 Im mad they got the whole breakdown of her finances tho but damn just left with $10 a month in her pocket after bills paid? She might have to go stay with Cissy. Quote Link to comment Share on other sites More sharing options...
hotboy06 Posted March 27, 2013 Share Posted March 27, 2013 LMAO..Cissy betta make room for her cousin! Quote Link to comment Share on other sites More sharing options...
William Posted March 28, 2013 Share Posted March 28, 2013 Quote Link to comment Share on other sites More sharing options...
jarrylf Posted March 28, 2013 Share Posted March 28, 2013 Im mad they got the whole breakdown of her finances tho but damn just left with $10 a month in her pocket after bills paid? She might have to go stay with Cissy. LMAO..Cissy betta make room for her cousin! NOW THAT!!! Would be the reality show of REALITY SHOWS lol Quote Link to comment Share on other sites More sharing options...
Dee Posted March 28, 2013 Share Posted March 28, 2013 No more newports and bic lighters for that hussy 3 Quote Link to comment Share on other sites More sharing options...
jarrylf Posted March 28, 2013 Share Posted March 28, 2013 No more newports and bic lighters for that hussy :lmao: Quote Link to comment Share on other sites More sharing options...
Utopia Posted March 28, 2013 Share Posted March 28, 2013 It's amazing how these legends are unable to get a decent person to help them out with their coins. . I guess Aretha and ha Voodoo ways got the best of Dilegend and she stay there perched on the internet getting ha cackle over this But let's STAN The Slayage 3 Quote Link to comment Share on other sites More sharing options...
Evil. Posted March 28, 2013 Share Posted March 28, 2013 It's amazing how these legends are unable to get a decent person to help them out with their coins. . I guess Aretha and ha Voodoo ways got the best of Dilegend and she stay there perched on the internet getting ha cackle over this But let's STAN The Slayage Quote Link to comment Share on other sites More sharing options...
janetDAYZ Posted March 28, 2013 Author Share Posted March 28, 2013 NOW THAT!!! Would be the reality show of REALITY SHOWS lol SO TRUE!!! :lmao: :lmao: They both are a trip Quote Link to comment Share on other sites More sharing options...
Kishi Posted March 28, 2013 Share Posted March 28, 2013 You all are out of control with these epic azz gifs. I'm tired and you all are taking my energy!! Quote Link to comment Share on other sites More sharing options...
Escapade Posted March 28, 2013 Share Posted March 28, 2013 You all are out of control with these epic azz gifs. I'm tired and you all are taking my energy!! dgsjnsdifnrjg ikr! lmfaooooo And I didn't know Dionne lived in South Orange! I live there too! I was reading the news paper and the headline was "SAY A LITTLE PRAYER- DIONNE WARWICK IS BROKE" Quote Link to comment Share on other sites More sharing options...
janetDAYZ Posted March 28, 2013 Author Share Posted March 28, 2013 dgsjnsdifnrjg ikr! lmfaooooo And I didn't know Dionne lived in South Orange! I live there too! I was reading the news paper and the headline was "SAY A LITTLE PRAYER- DIONNE WARWICK IS BROKE" Newspapers be reading ppl like that? 1 Quote Link to comment Share on other sites More sharing options...
Utopia Posted March 28, 2013 Share Posted March 28, 2013 dgsjnsdifnrjg ikr! lmfaooooo And I didn't know Dionne lived in South Orange! I live there too! I was reading the news paper and the headline was "SAY A LITTLE PRAYER- DIONNE WARWICK IS BROKE" Oop... Better hide your wallet sis Quote Link to comment Share on other sites More sharing options...
Escapade Posted March 28, 2013 Share Posted March 28, 2013 Newspapers be reading ppl like that? Yup smh! I hope she didn't go out today cause that paper was all over town! Oop... Better hide your wallet sis LOL this $7.25 an hour ain't gonna do shit for her! Quote Link to comment Share on other sites More sharing options...
Utopia Posted March 28, 2013 Share Posted March 28, 2013 Yup smh! I hope she didn't go out today cause that paper was all over town! LOL this $7.25 an hour ain't gonna do shit for her! That's still more than what Dilegend ha bank account has Quote Link to comment Share on other sites More sharing options...
jarrylf Posted March 28, 2013 Share Posted March 28, 2013 SO TRUE!!! :lmao: :lmao: They both are a trip CAN YOU IMAGINE THE ARGUMENTS LOL OH OH AND DON't LET HATERETHA COME IN LOFL!!!AAAAHHHH You all are out of control with these epic azz gifs. I'm tired and you all are taking my energy!! (you just gave me an excuse to use possibly my fave gif I've ever made LOL, just got finished with it) 1 Quote Link to comment Share on other sites More sharing options...
lexus97 Posted March 29, 2013 Share Posted March 29, 2013 she must have smoked all her money away Quote Link to comment Share on other sites More sharing options...
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