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Bank to Bow Wow

You Owe $25,000 for

Hassle Over Your Lambo

10/12/2012 4:30 AM PDT BY TMZ STAFF
EXCLUSIVE

1011_bow_wow_01
It costs roughly $25,000 to repossess and sell a rapper's Lamborghini -- at least according to a Georgia bank, which is now suing Bow Wow for money it spent flipping his ride. 

SunTrust Bank filed the lawsuit against Bow Wow -- real name Shad Moss -- claiming he took out a $300,165 business loan, agreeing to 84 monthly payments of $4,730.

According to bank records filed with the lawsuit, Bow Wow fell behind last year. The docs show the bank repossessed the rapper's Lamborghini Murcielago  -- and managed to get $161,000.

You'd think that would be the end of it -- but the bank tacked on more than $25,000 for "repossession expenses."

According to the lawsuit, Bow Wow still owes the bank $21,371 -- and the bank wants every penny.

TMZ broke the story ... Bow Wow is also being chased down by a collection agency over a $283,000 judgment against him, stemming from a Ferrari he stopped making payments on.

Sources close to Bow Wow tell us, the rapper attributes all his money issues to his crappy ex-management team. We're told he has since cleaned house and is now working to fix his financial mess.

35 COMMENTS

No Avatar
1.

OH NO!    

Ghetto kids and their bling! The first thing they do when they get cash is get a flashy car or some big ass wheels. Then they get mad when you 'stereotype' them.

656 days ago
2.

Brad    

Another black guy not taking responsibility for creating his financial problems. Bow Wow is on tape talking about how he only wears his clothes once and than throws them away, he's said whenever he travels somewhere he doesn't take clothes with him he just buys $6,000 worth of clothes and shoes and than wears them once and gives them to gives afterwards. Could that kind of ungrateful and irresponsible spending have something to do with your plight?

656 days ago
3.

Michael    

Yeah, it is always someone else fault. If you are grown enough to earn, spend recklessly, and father children, you are old enough to be responsible for your finances.

656 days ago
4.

Eddie    

Nouveau riche trash.

656 days ago
5.

jason    

Seems like the thing to do when your famous, stupid, and lose all your money is too blame it on your crap accountants. Grow up you spent your money like you were going to be the in thing forever. You little bow wow get it str8 your over. Now get a real job and join the REAL WORLD...

656 days ago
6.

Spicy mag    

Hate to pile on but this kid was a dumbass to spend half a million dollars on cars. You can get a perfectly good Honda new for $18,000.

656 days ago
7.

NOT ELMO    

That shows where this Idiot's mind is, taking over $300,000 loan to pay for a LAMB car and then taking another loan of $283,000 to pay for a FER car, a total of over $583,000 for 2 cars, LOCK HIM UP!.

656 days ago
8.

Phishie from Philly    

Bow WOW, literally!
..
Phishie from Philly

656 days ago
9.

Phishie from Philly    

I bet he has about 250 sneakers!
..

656 days ago
10.

Phishie from Philly    

Wasn't it a year ago Bow Wow said he's done with music because he's accomplished all there is in the music industry. OK, I think he didn't accomplish squat! He just couldn't sell any more songs because they suc.ked. Now you're blaming your ex management team for your financial mess. The fault lies within brother! Stop blaming others because its easier!
..

656 days ago
11.

the artist formerly known as hand turkey    

Keep it real, pay the bill.

656 days ago
12.

Rotter    

Time for Bow Wow to Bow Owt.....

656 days ago
13.

Elmer Fudd    

another role model.

656 days ago
14.

Meanie    

Hood rat = not good with budget skills.

656 days ago
15.

laffnbear    

Having stopped making payments twice, he would be lucky to buy a Ford now.

656 days ago
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