(EXCLUSIVE) Scott Storch Graduates Debt School

Scott Storch

Scott Storch

theJasmineBRAND.com exclusively reports, music producer Scott Storch recently graduated from debt school where he hopefully learned how to manage money better … so he won’t go blowing $70 million dollars again anytime soon.

Storch filed for Chapter 7 bankruptcy earlier this year in a Florida court. He listed that he only has assets totaling $3,600 but liabilities in the amount of $4,393,679. His assets include $100 cash, $500 in clothing, a watch worth $3k, several music companies valued at $0 and no other property.

However, he said his liabilities include $105k owed on an automobile, unknown amount owed to the IRS, unpaid bills on a residential lease, $46k owed to a lawyer, thousands unpaid to collection agencies, $1.5 million judgement + another $2.1 million judgement owed to a company named JK Entertainment who sued the producer, $68k to Mandatory Entertainment, $294 to a collection attorney for Direct TV, $22k to Florida State in unpaid taxes, $20k to Southern California Edison for Agriculture, $139k to Suntrust Bank, $189k to a leasing company and various other creditors.

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Authored by: Kellie Williams