The singer from Creed is broke and living in a Holiday Inn.

[alkemyst]

He blew his money on drugs.

Reminds me of Antoine Walker. He blew $110m. Sold his NBA championship ring he won with Miami. I believe he's worth $100k now.

What a fall.

Actually $250k, but with him doing a B/K and owing money to bookies it may be under reported.

 

[smackababy]

I wouldn't fret for Walker too much. Eventually, he will hit his NBA pension and that is a nice like $125k a year.

 

[Mai72]

I wouldn't fret for Walker too much. Eventually, he will hit his NBA pension and that is a nice like $125k a year.

I know what you mean.

He's not going to be homeless. Still, to go from $110m to a NBA pension of $125k a year is a huge drop in lifestyle.

 

[clamum]

I'm not a fan of Stapp, from what I've read he seems like an egomaniac, but I hope he gets some professional help. Looks like he's suffered off and on with alcohol/drugs for awhile.

 

[smackababy]

The only redeeming thing about Stapp is he publicly made fun of Fred Durst, another giant asshat, for delaying their concert hours because he refused to take the stage with the sun up (they [Limp Bizkit] were the opening act).

 

[Maximilian]

I'm not going to bother watching the video. Someone who went from $30,000,000 to zero is not worth my energy. What a fucking idiot.

This, fuck em.

 

[TeeJay1952]

Talk about first world problem.
Broke but living at Holiday Inn?
2 1/2 billion in true poverty say "What?"

 

[Geekbabe]

I liked Creed & thought Stapp had an emotive, fairly strong voice. Hope he gets into treatment.

 

[freegeeks]

they sold 24 million albums and he is broke?

hookers and blow is the only reasonable explaination

 

[William Gaatjes]

The other issue of being on drugs is making a lot of new "friends" that need money or another financial favor and then the money counter really starts ticking. No way anyone can use 30 million worth of drugs and not turn into a psychotic zombie within a year or just end up dead (which is more likely anyway). It is the behavior while under influence. Not making responsible choices and so on. Only the drugs and the parties where important i guess... I doubt his wife never joined those parties.

 

[mcveigh]

Doesn't he still get royalties?

 

[BUTCH1]

Actually $250k, but with him doing a B/K and owing money to bookies it may be under reported.

I thought if you filed a B/K you were only allowed around $2000 in cash/assets? or did he make some $ after the filing. In either event it's almost stunning to blow that amount of $$, I'd be tempted to off myself.

 

[alkemyst]

I thought if you filed a B/K you were only allowed around $2000 in cash/assets? or did he make some $ after the filing. In either event it's almost stunning to blow that amount of $$, I'd be tempted to off myself.

It depends on what B/K you are filing. If he filed Chapter 7 he would have had to qualify for that to begin with and then you work with the trustee to determine what is exempt / non-exempts and those values. In general, $1000 in vehicle equity and $1000 in personal property, but it's more complicated. The good thing is all your debts go away. During the three months the B/K takes you can't have any kind of major savings as that would go to the trustee to pay off what they could. After those three months you can save whatever you want.

If he did a 11/13, he'd not really lose much assets and go onto a payment plan over the course of 5 years with anything outside of that falling out. You still have debt, but it's made into a managable structure.


His main problems now are supposedly the IRS has a freeze on his assets.

 

[alkemyst]

Talk about first world problem.
Broke but living at Holiday Inn?
2 1/2 billion in true poverty say "What?"

https://www.youtube.com/watch?v=GmKjTC8yDFM

 

[Stifko]

Broke but living at Holiday Inn?

yeah if he was really broke he would be on the street and totally destitute.

 

[Ns1]

Doesn't he still get royalties?

People buy music?

 

[alkemyst]

People buy music?

Umm, yes pirate. Also so do radio stations, TV shows and Movies.

 

[wangotango]

I must have been living under a rock, never heard of the band until today. Listened to doors wide open and it was lame as it gets from a compositional standpoint. His money probably went into his wife's boobs and plastic surgery... he may have been locked out of his accounts as well. What a mess. Rock is dead

 

[PliotronX]

His new single, "Can You Take Me Lower" bottoms the charts, bringing in no hookers and blow.

 

[ABErickson]

If he's broke you would think he might try finding someplace that's a little more affordable than a hotel.

 

[Newell Steamer]

http://www.spin.com/articles/scott-stapp-creed-crowdsource-480000-solo-album-book/

Scott Stapp, who just last week claimed to be broke, hungry, and homeless, is now asking other people pull him up by his bootstraps by attempting to crowdsource nearly half a million dollars. The former Creed singer is asking for $480,000 so he can record a solo album and write his first book. On his Fundly page, Stapp explains that he wants to work with his old producer Howard Benson and engineer Chris Lord-Alge. At the same time, he promises to write his "first book in the fiction category," though no plot details have been released. "Need 2fund both projects," the embattled musician wrote, forgoing the use of real words when numbers will suffice.

As of Monday morning, Stapp has only raised $522, a wee bit shy of his final fundraising goal, though there's still 119 days left to donate. Perhaps potential donors are concerned about the project's viability: According to documents acquired by TMZ, his soon-to-be ex-wife Jaclyn Stapp said the singer was "doing so much amphetamines, crystal meth, and steroids that he has become a paranoid shell who has threatened to kill himself and his family." She also filed a petition to have Stapp involuntarily committed to a psych ward for 60 days. But hey, if you really want to read Stapp's debut fiction novel, donate here.

 

[KeithTalent]

Geez, this is getting kind of sad.

KT

 

[shortylickens]

jesus fucking shit! Is it really so hard to ask your manager for some help?

Have him put 10 percent of your take home into a little IRA or something. Crap.