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Tisha and Duane Martin $15 million in debt and only have $200 in cash

TishaCambell

Photo: @tishacampbellmartin via Instagram

Tisha and Duane Martin are looking to press the reset button after falling $15 million in debt. According to documents filed in U.S. Bankruptcy Court in California, the couple has filed for Chapter 7 bankruptcy.

The document reveals how the Martins were living above their means. Together, they earned over $7,600 per month, but they were spending nearly $17,000 per month. Some of the items that they owe money on include a 2016 Range Rover they leased for $43,000; a 2014 Range Rover for $67,000; and a 2016 Jeep Wrangler for $17,000.

The Martins also owe American Express $39,000; $455,000 to City National Bank; $538,000 to Comerica Bank; $500,000 for loans given to their company XE Visions; $400,000 for a company called Money Real Estate; and $17,000 in student loans for a nephew.

Some of their assets include two dogs that they value at $2; $15,000 in household goods; $2,500 in electronics; $2,500 in jewelry; $2,500 in hobby equipment; and $1,000 in clothing. The documents also state that they only have $200 in cash and $173 in a credit union.

By filing Chapter 7, they will be able to start over without facing so much debt. Some of the advantages of filing Chapter 7 include the elimination of certain debt and personal liability; the debtor keeps future income; debtor is no longer responsible  for repaying the debt after its discharge; and the discharge of debts usually occurs within 90 days, according to FindLaw.

The Martins are viewed as one of the more prominent black couples in Hollywood and are close friends with Will and Jada Smith. Although the reason for frivolous spending has yet to be revealed, some actors may feel a need to keep up with their celebrity friends who may have more disposable income. But it can be difficult in Hollywood to maintain an elaborate lifestyle if high-profile roles aren’t consistent.

Tisha and Duane Martin both co-starred in Kevin Hart’s “Real Husbands of Hollywood” on BET over the past three years and Tisha is currently a co-star on ABC’s “Dr. Ken.”

Duane Martin’s last project was the independent film, Sister Code. Tisha and Duane Martin both established themselves in the 1990s with Tisha serving as Martin Lawrence’s love interest on “Martin” after appearing in School Daze and House Party. Duane Martin broke out in 1994 alongside Tupac Shakur in the hoops flick, Above The Rim.

The couple was sued for forfeiting on a loan a few years ago as well.

Click to see other celebrities who filed for bankruptcy



31 Comments

  1. Stephy. on April 4, 2016 at 5:44 pm

    If this is true… It’s a damn shame.

  2. True Grit on April 4, 2016 at 6:53 pm

    Are they gonna give the damn cars back?

    • runnerin1 on April 6, 2016 at 1:27 am

      If they’re making the payments,which I’m sure the are they’ll be allowed to keep them. They have money it’s just hidden in offshore banks.

      • Col. Sanders on April 6, 2016 at 1:45 am

        They ain’t got no offshore accounts!!! Lmao!!!

  3. Alonzo on April 4, 2016 at 8:05 pm

    Damn Gina!

  4. Bill on April 4, 2016 at 9:49 pm

    Why won’t his boy Will Smith help Duane Out.

    • DH on April 7, 2016 at 1:46 pm

      Yeah…since Will was all up in him all these years, least he could do is help his booty buddy out

      • Bill on April 7, 2016 at 2:10 pm

        LOL, yup you got a point DH!!!

      • Raooh Rowell on April 11, 2016 at 4:53 pm

        Now you know damn well it’s not that serious, and Will has already been on the scene, that’s who probably gave him the advice email to file bankruptcy from the start. Believe me, Brother Will knows the ins and outs of this thang, he is NOT by any means allowing his friend to go down in this public scrutiny with nothing in tow. Do you actually believe that shit that only have clothing left between the two of them worth 1,000.00? Like I said Lady T. shoes cost more than that a pair! And I also asked, if that’s the truth, do they both have a Walmart clearance rack wardrobe now? Spare me all of the particulars of this publicity stunt. I’m sure it’s partially true as far as the debt part, but them ended up damn near at poverty level? Nope! Like my last comment stated they’re doing a 50 cent “tuck and roll” military move. Like 50, that woman was coming after his bank for exploiting on so.easy movie by doctoring it up or something, anyways oh girl won her case I guess and was seeking money.so 50 got rid of his shit so she couldn’t take that shit from what I understand, and this is just a copycat version.

  5. DSmooth on April 5, 2016 at 2:00 am

    For whatever reason & probably because it just doesn’t make sense or add up…I think this article is a bunch of bullshit! Both of the Campbells are working (reguarly) & Tisha Campbell is still collecting royalty checks from Martin and My Wife & Kids! HELL! Tisha should be worth $15 million easily by her damn self. Tisha, has been making movies & a regular on TV since the mid 1980’s. I call bullshit on this article…this might have passed muster with another couple, but not the Campbells.

    • [email protected] on April 5, 2016 at 5:13 am

      Exactly!

    • tr_gina on April 5, 2016 at 10:03 am

      She confirmed the report on her twitter account with an explanation of why they needed to file…real estate loans prior to the market crash…banks wouldn’t negotiate so they filed.

      • DSmooth on April 5, 2016 at 11:25 am

        Wow! Gina, I appreciate you confirming this story for me, I guess I just find it hard to believe that the Campbell’s weren’t managing their finances properly. I understand the part about real estate loans prior to the market crash…so on & so forth, but where was their accountant? An if they didn’t have an accountant, (which I find very hard to believe) then which spouse was responsible for overseeing the finances & didn’t have the fore sight to wave the red flag to give the other one the heads up that we are starting to get in way over our heads. #Bananas

    • guest on April 5, 2016 at 10:17 am

      It doesn’t take much to spend above your means, even if you’re making millions of dollars a year. But most people know that filing for bankruptcy doesn’t mean your broke.

      • DSmooth on April 5, 2016 at 12:53 pm

        OK…so if the true definition of filing bankruptcy means “you can’t pay your bills because you are broke or strapped for cash.” Then tell me how most people know that filing bankruptcy does not mean that you are broke? Your statement is oxymoronic.

        • DPlusPlus on April 6, 2016 at 11:56 am

          That’s not even what that person said! Filing for bankruptcy usually means that you have more debt than income. We usually think of being broke as having no income at all, so most people know that it’s more complicated than being labeled as “broke.”

    • DPlusPlus on April 6, 2016 at 11:53 am

      You seem to be pretty naive. Do you really think you can spend two times more than you bring in and not only break even but still have 15 million laying around from the 90s? Do you seriously think those royalty checks are enough to support them? Sometimes they get royalty checks that are like 50 cents. Just because they seem to have a lot of money to you, they don’t in the big scheme of things.

      • DSmooth on April 6, 2016 at 5:03 pm

        So based upon your asinine reply you must be the Campbell’s personal accountant…especially since you seem to have inside information of their spending habits & how much Tisha’s royalty checks were…naivete doesn’t have anything to do with trying to figure out how two supposedly successful hardworking spouses can be broke & filing for bankruptcy. Last but not least, common sense would tell you that if anybody spends more than they make, that you will end up in serious debt…you could have kept that smart ass gay comment to yourself.

        • DPlusPlus on April 8, 2016 at 12:15 am

          Based on your emotional response you must be some type of effeminate soft ass she-pussy. I called you out for being dumb and naive like a woman or a child, and you responded like one. Bravo. How was what I said acting like I had personal information? I just have common sense. Your last sentence: thanks for restating what the fuck I said in my comment to you, dumbass. I really needed that?

  6. cupcake333 on April 5, 2016 at 11:56 pm

    dam gena lol .. she seem like she busy ,when you see her she did a rap video he did some recent cameos in some kevin hart movies omg what on earth are they doing with that moneyj.. the article is right .. their friends are living lavish and they trying to do the same just cause your house is paid you still cant be rolling in these fine cars buying cloths tisha has big friends like the girl from tyler perry movie ,, monica . . kelly roland i think mary j bliege but we forget these women dont see each other unless theres a award show or red carpet everyone is doing their own ting ..so once a year they may run into their friends or on a movie set and thats it .. so they precieve them as doing well they look good hair straight … healthy body . tissue eat good i see .. but dwyane is weird they say he is a downlow nigro i dont know ..he and willl smith seem questionalble to

    • Iam TimDog on April 6, 2016 at 5:12 pm

      Lmaooooooooo

      • Raooh Rowell on April 9, 2016 at 5:15 pm

        I believe everyone has some validity to their comments. I love it when we can get together and have RATIONAL debates on another M.F. ‘s shit as they’re probably sitting back laughing like hell knowing DAMN WELL their assess ain’t broke! They pulled a 50 Cent move. See that chick with the movie scandal was coming for his shit, so the brother did a “tuck and roll” military move on the situation on his bank and REAL assets. Lady T. and Dwayne? Their assess on front street too. I mean they gotta prove the debt, so that part is real, and the bank account is just “THE ACCOUNTED FOR CASH ON HAND”!!! you better believe that the same “tuck and roll” move was.performed here. You guys said it yourself, theyre good friends with some prominent people who bring in the money in Hollywood, namely the Smiths. Do you think for one minute Will & Jada would let them go out like suckers? NOT! Spending that kind of money every month with ONLY 1,000.00 in clothing to their names? REALLY?? A pair of her shoes cost more that that, what they each have, a Walmart clearance rack wardrobe now? They’re actress and actor, the way i see it, Hollywood hasn’t been so fair to blacks these days, and it seems they need the work, they gotta get their faces out there for a start fresh as with their credit. Bad publicity is better than none in this industry, I just hope it works out for the both of the happy couple. LMMFAO ?

  7. runnerin1 on April 6, 2016 at 1:23 am

    First you cash inallyour assets. Then take that money along with money in the bank, and slowly start depositing it in bank account that will not give your banking info out i.e. Switzerland. After a few months file Chaper7 which is to erase your debts, not set up a payment plan for them. Now you’re in court without any cash or tangible assets to pay the $15 million. The Jude is going to wipe out all the $15 million. Then, you slowly move the money back to the US as you need to.
    $15 mil just wiped out.

  8. I'm real funny on April 6, 2016 at 2:23 am

    This was Shake’s idea

  9. Toptobottom76 on April 6, 2016 at 6:43 am

    Should be chapter 13

    • Tara on April 8, 2016 at 1:29 pm

      not if they don’t have regular income…

  10. WHale WIllie on April 7, 2016 at 9:16 am

    I’Se like ta know d’ere definition of po’. UNtil d’ey eatin’ outta a dumpsta like suma da po’ folk, d’ey need ta shut d’ere damn pie holes! DUane MArtin, time ta sell off d’em expensive autos. YO gonna haveta find anutha place ta do yo back do’ luvin’ wit’ d’em high priced asian hos! TIsha Martin gets ova here right now. GOnna turn yo body inta ma own hand puppet. ‘CAuse I’Se dont know ya too well, cant go shoulda deep da first time. GOnna haveta settle fo’ elbow deep. NOnetheless yo caboose be mine. CHoo choo WIllie be ridin’ yo dirty bat cave ’till BRuce WAyne cum home!

    REadin’ all d’is gotsa wunda if d’ese people gots screwed by da hnonkey tax-man. BAck in da day, ma poppie us’d ta tell me “WHitie always 2 bullwhips away from a beatin'” I’Se say run nigga run! IF CHris ROck be ‘live, be agree’n wit’ me. CHris made his $$ but knew ’nuff ta hide sum unda his pillow just in case da law man cum knockin’ SUmtimes he even puts a coin o’ two up his ho’s poop shoot fo’ safe keepin’. D’At of course was ’till fats ‘tard KEvin JAmes run ova CHris wit’ d’at UPS truck ROad RUnna style.

    SO d’ey say ‘merican IDol is cummin’ to an end. WHo give a flyin’ [email protected]#k? VEry little soul..very little R&B. WHale WIllie gonna make a special appearance. GOnna rub one off and share ma hubba bubba love juice wit’ d’em judges. NExt stop gotsa five HArold and KUmar da beetin’ o’ d’ere life. TIme fo’ yo two pipe lovin’ limp wristed b-boys ta cum outta closet and share you china-indo-gayboy luV!

    • Porcia DeClare on April 7, 2016 at 11:32 am

      what a fool!!!! you think your funny sir? wasted 5 minutes of my life trying to make sence of your post

      • Bill on April 8, 2016 at 9:39 am

        Damn, I wish he just post in English and not Ebonics. It does take five or more minutes to figure his post out.

  11. Bill on April 7, 2016 at 2:19 pm

    I wonder what is not mentioned in the article, is what kind of investments did they make? In that league when you are in the million dollar club, investments are necessary. They could have made a couple of bad investments that caught up with them. It happens all the time in the big dollar acting community.

  12. Kevin Dorival on April 18, 2016 at 12:15 am

    NEVER UNDERESTIMATE THE POWER OF FINANCIAL WISDOM. I’M SURE THEY’RE NOT AS BROKE AS THEY CLAIM.