One of America’s most favorite black Hollywood power couples is currently experiencing a very difficult time.
According to The Daily Mail, Tisha Campbell-Martin, 47, and her husband Duane Martin, 50, have filed for Chapter 7 bankruptcy due to some enormous debt the couple has racked up. Court documents reveal that the couple owes over $15 million dollars collectively for a bevy of mounting expenses with numerous creditors.
The Martin couple filed for bankruptcy earlier this year on January 7th in the U.S. Bankruptcy Court of California. The long list of debts listed in the couple’s bankruptcy filing includes $208, 611 in tax debt, $113,000 in student loan debt, and a debt of $3 million dollars to Broadway Federal Bank for a personal guaranty on a real estate loan they took out.
The financial bleeding doesn’t stop there. The Martins owe $530,000 to Comerica Bank and $120,000 to a law firm for unpaid legal expenses. They owe hundreds of thousands of dollars on a number of car loans too. Their joint bankruptcy filing also includes a $400,000 judgement against them over stiffing a legitimate real estate company.
Court records indicate that the couple has stated they’re currently only worth $313,000 together in assets. The Martins claim they have only $7,655 in joint monthly income being brought in. However, they revealed that they have $16,953 in monthly expenses.
Duane Martin is an accomplished actor and a current star on BET’s The Real Husbands of Holywood. His film credits include a leading role in the late Jeff Pollack’s 1994 film Above the Rim. Tisha Campbell-Martin is also an accomplished TV and film star.
She played as Gina on Martin, a long-running and successful TV sitcom, which was created by funnyman and film producer Martin Lawrence in the 1990s. Campbell-Martin’s film credits include a supporting role in a number of films, including director Reginald Hudlin’s 1990 hip-hop comedy classic House Party.