Damon Dash Files for Bankruptcy, Facing $25M Debt, Might Go After Former Partner

Damon Dash is claiming he hit "Roc" bottom and has filed for Chapter 7 bankruptcy ... he says he's staring down 8 figures of debt but only has a few grand in assets ... and only $100 in cash!!!

According to court docs, 54-year-old Dash estimates he's currently in the hole with somewhere between one to 49 creditors, and only has a paltry amount of assets valued at $4,350 ... versus $5,200 in monthly expenses and $25,303,049.47 in liabilities.

One of those people he says he owes money to is Josh Webber of Muddy Water Pictures LLC, who was in a lawsuit with Dash stemming from their failed "Dear Frank" film.

He lists Webber in his docs as a creditor owed $4 million.

The embattled mogul also has IRS and state tax departments breathing down his neck ... but Dame is claiming his former Roc-A-Fella Records partner, Kareem "Biggs" Burke, owes him an unknown amount of money ... and says he has other possible claims to get money from Chris Brown, Claudia Jordan, Webber, and several other individuals.