Dionne Warwick Files For Bankruptcy Says, “I Have $11 Million In Debt & $10 To My Name!”

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Grammy-award winning singer Dionne Warwick, whose string of gold and platinum hits stretched through the 1960s to 1980s has filed for a bankruptcy protection–owing the IRS $11 million in debt stemming from the 80s.

The 72 year-old reportedly has $25,500 in assets and $10.7 million in debts according to her 50-page filing last week in the U.S Bankruptcy Court in Newark, New Jersey.

The NYdaily reports: “After 50 years in show biz, the singer said all she had to show for it was $1,000 cash; assorted pieces of decades-old furniture; clothes; artwork and paintings; two fur coats, and two pairs of diamond earrings.”

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 a $20,000 Visa card debt, court papers showed.

Her publicist, Kevin Sasaki, blamed “negligent and gross financial mis-management” during the 1980s and 1990s for her current financial woes. 

Warwick also listed her average monthly income as $20,950, and her typical monthly expenses as $20,940 — leaving Warwick with just $10 each month.

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Kelly Williams is the co-Founder of GWL Magazine Network. She eats, breathes, and sleeps pop culture news and celebrity gossip! Her forte is celebrity news, reality tv recap and music news. Be sure to Follow us on Twitter and Facebook: @GWLmag, @Gossipwelove.