Bow Wow is Broke? Report says He Owes Over $284K For Leased Ferrari

Bow Wow made headlines earlier this week, when he and baby's mama Joie Chavis appeared in a courtroom to fight over child support. Eventually, the young rapper would agree to fork over $3,000 a month, claiming he makes just $4,000 a month, leases a jeep, and has a grand total of $1,500 in his bank account.

While it may seemed far-fetched that he's hurting for cash, especially since he just landed a new gig as host of BET's "106 & Park", Bow may not be as flush with cash as its perceived.

According to TMZ.com, creditors have been chasing Bow Wow for three years over a Ferrari F430 he leased back in 2008.

A company called B.W. reportedly leased the exotic sports car to the 25-year-old rapper; and then, a year later, he had fallen behind on payments. In February 2009, the leasing company sued him and got a judgment for over $216,000. However, Bow Wow never paid, and now, he owes the original judgement plus interest, bringing it to nearly $284,000.

The young rapper has been in the game since the age of 13, when he sold over 2 million copies of his debut album, Beware Of Dog. He's gone on to release seven solo projects, a collaborative release with Omarion, resulting in millions of album sales... and appeared in several movies.

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