Bow Wow -- Wow, Maybe He Really is Broke

Gotta say ... we were scoffing at Bow Wow this week when he told a child custody judge he was only pulling in $4,000 a month ... and then announced just hours later he was becoming the host of 106 & Park ... but we just found some documents that show creditors have been chasing him for 3 years over a car.

B.W. leased a 2005 Ferrari F430 back in 2008. It didn't take long for the rapper to fall behind, because in February, 2009, the leasing company sued him and got a judgment for $216,084 ... oh, and 75 cents.

Since getting the judgment, the leasing company has been on the hunt for payment, using a collection agent to track down Bow Wow.

Mr. Wow never paid, and now with interest the judgment has swelled to $283,785 ... oh, and 13 cents.