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Dionne Warwick BANKRUPT! Owes $10 Million Dollars and only has $25,500 in assets!

Dionne Warwick is in seriously bad financial shape. The Grammy Award-winning singer, 72, has filed for bankruptcy in New Jersey, reports NBC. Her publicist says the personal bankruptcy filing on March 21 was due to "negligent and gross financial mismanagement" in the late 1980s through mid-1990s, when her average monthly income was listed as $20,950. The singing star filed in U.S. Bankruptcy Court in New Jersey, where she lives. She listed total assets of $25,500 and liabilities of more than $10.7 million in taxes owed to the Internal Revenue Service and the state of California, according to the filing. Her rep says the back taxes had already been paid, but penalties and interest have continued to accrue, despite the singer offering various repayment options. Whitney Houston's cousin is best known for songs including Alfie, Do You Know the Way to San Jose and Walk on By.


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