Although his rise to fame wore out by the end of the 1990’s, Sinbad had a lucrative career in comedy and television. Even as a recent published author, Sinbad admits his financial problems haven’t been the result of extravagant living; rather, he is another victim of the turbulent economy.
Reportedly owing near $11 million in debts to credit card companies and the IRS for unpaid tax debts, Sinbad’s mere $16,000 a month income doesn’t come close to covering his liabilities. As his second filing in four years, Sinbad filed for Chapter 13 bankruptcy last month to help resolve his debt obligations and get back on track.
David “Sinbad” Adkins appeared on the Oprah Winfrey show earlier this year discussing his financial plight in recent years. He stands by his assertion that his financial troubles are not the result of poor money management or boastful spending, but that he “… invested in a lot of other people,” going on to say that “[he] would not change it; [he] would not go back.”