Dionne Warwick Files For Bankruptcy

Source: Jennifer Abbey / ABC News

Legendary singer Dionne Warwick has filed for personal bankruptcy in New Jersey, citing more than $10 million in debt stemming from mismanagement of her finances.

Warwick filed Chapter 7 bankruptcy March 21 in United States Bankruptcy Court of New Jersey, where she lives, according to the filing. The five-time Grammy winner lists $25, 500 in assets and more than $10.7 million in liabilities. She completed credit counseling March 17 that was required by the court.

Warwick lists her current income at $20,950 per month with her expenses at $20,940, according to the filing.

The singer’s filing was a result of negligence and “gross financial mismanagement” in the 1980s and 1990s, her publicist said in a statement to ABCNews.com.

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