Days after DMX's arrest on suspicion of driving under the influence, the rapper filed for Chapter 11 bankruptcy Monday, according to court records.

The papers filed in the Manhattan bankruptcy court, the Chapter 11 petition of DMX, whose real name is Earl Simmons lists less than $50,000 in assets and $1 million to $10 million in debt. According to court papers, the 42-year-old "Party Up" rapper said he filed for Chapter 11 bankruptcy to help "reorganize my financial affairs."

The Wall Street Journal noted that DMX owes $1.24 million in child support and more than $21,000 on an auto lease, among other obligations. His principal asset is a 50% stake in property in Mount Kisco, N.Y.

Domenick Nati, a representative for the rapper released the following statement Tuesday.

"DMX's financial strains have been inhibiting his career for several years. Poor financial management by prior representation have caused him to be ineligible to retain a passport. The purpose of this bankruptcy filing is for reorganization so he can perform for his fans oversees [sic]. We are currently planning a tour in Europe and Africa for the fall of 2013."

The rapper was arrested last Friday in South Carolina for suspicion of driving under the influence and for failing to have a valid driver's license. 

A video obtained by TMZ shows the rapper falling asleep in a cop's car moments after he was handcuffed. 

See video here:

DMX was intially booked at a nearby South Carolina police station for DUI. However, his representative said he was never charged with a DUI because he passed a breath test in jail and was released after posting $1,235 in bail.

The rapper has kept a low profile in the music industry before he returned in 2012 with a handful of bookings, including a gig on the Rock the Bells tour and his seventh studio record, Undisputed.

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