Bow Wow lost his Lamborghini to the bank when he fell behind on payments, and now the bank is going after him to cover the “repossession expenses” which equal $25,000.
Bow Wow seems to constantly be popping up in the news when it comes to lawsuit and court-related matters. Most recently, a Georgia bank is now suing the YMCMB rapper for the $25,000 it cost to repossess and sell his Lamborghini.
SunTrust BankÂ filed the suit against Bow Wow,Â claiming he took out a $300,165 business loan, agreeing to 84 monthly payments of $4,730. According to the bank records which were filed with the suit, Bow Wow fell behind on the loan payments last year. The bank repossessed his Lamborghini Murcielago which raked in $161,000.Â
It doesn’t end here, since the bank added on “repossession expenses” which cost $25,000. According to the suit, Bow Wow still owes the bankÂ Â $21,371.
Apparently Bow Wow blames his string of financial problems on a bad ex-management team, which he has since changed and is working to fix his financial mess, TMZ reports.