BREAKING NEWS

Dionne Warwick Broke -- Files For Bankruptcy -- $10.7 Million In Debt!

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Mar. 26 2013, Published 1:23 p.m. ET

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Dionne Warwick, the Grammy winning performer who had a string of mega hits throughout the 60s, 70s and 80s, has filed for bankruptcy, claiming debts of $10.7 million, RadarOnline.com is reporting.

The 72-year-old filed last week in the U.S. Bankruptcy Court in Newark, listing just $25,500 in assets, and claiming the grand total of $10 a month after covering her expenses, according to the New York Daily News.

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The bulk of Warwick's staggering debt stems from unpaid taxes -- and her publicist, Kevin Sasaki, has blamed “negligent and gross financial mismanagement” for his client's credit Armageddon -- explaining that the debt comes from penalties and interest on back taxes that have since been settled.

In addition to owing the IRS, Warwick is also in the hole to a former manager for $500,000 and has credit card debt of around $20,000.

The singer, whose hits include the classics, Do You Know the Way to San Jose?, I Say A Little Prayer and Walk On By, lists her average monthly income as $20,950 and outgoings as $20,940 -- with assets of two pairs of diamond earrings, two fur coats, furniture, clothes, artwork and a measly $1,000 in cash.

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