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Mary J. Blige Sued After Defaulting On $2.2 Million Loan

November 29, 2012 07:30 AM by Donna W. Martin

Former American Idol and The Voice mentor, Mary J. Blige is facing some legal trouble after her and husband, Martin Isaacs defaulted on a $2.2 million loan. Keep reading for more details…

According to Reuters, Signature Bank filed a lawsuit against Mary J. Blige in the New York Supreme Court in Manhattan on Wednesday. The lawsuit alleges that Blige and her husband defaulted on a $2.2 million loan with the bank and they are seeking to recoup the original value of the loan plus interest in the amount of $58k.

Sources say the bank tried on numerous occasions to contact someone with Blige’s organization to clear up the matter, but they did not get a response and therefore, took the only recourse available to get the money back.

In addition to naming Blige and her husband, the lawsuit also names Blige’s production company, Mary Jane Productions, Inc. And while it isn’t clear why the R&B singer and her husband took out the loan in October of 2011, we do know that the default occurred in July of this year.

However, this isn’t the New York native’s first go-round with financial difficulties. Earlier this year, Blige’s charity, The Mary J. Blige and Steve Stoute Foundation for the Advancement of Women Now, Inc., was accused of misappropriation of funds and cheating scholarship recipients.

While Blige’s publicist and attorney have declined to comment regarding the current lawsuit with Signature Bank, Blige did speak out and acknowledge problems surrounding her charity in a June interview. “The lives of young women are at stake,” Blige said in response to allegations of mishandling of funds. “I feel what they feel. I don’t want them to suffer.” She added, “I promised them something and I’m gonna deliver. Period.”

Blige has sold in excess of 50 million albums worldwide, so where did all the money go? Why would the R&B superstar need a $2.2 million loan? And is someone within Blige’s organization embezzling funds? Post a comment and tell us what you think.

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Photo Credit: NBC

Topics: American Idol, FOX Reality TV Shows, NBC Reality TV Shows, The Voice |

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6 Comments »

6 Responses to “Mary J. Blige Sued After Defaulting On $2.2 Million Loan”

  1. Tuco Maria Ramirez Says:
    November 29th, 2012 at 9:26 am

    Other sites are saying the amount is $2.7 million. Either way, its “A Tidy Sum”!

  2. Nancy Says:
    November 29th, 2012 at 12:00 pm

    surrounded by the wrong people will make for difficult times such as this,time to clean house Mary.

  3. jane Says:
    November 29th, 2012 at 12:43 pm

    Hmmm, something aint right.

  4. marilyn moores Says:
    November 29th, 2012 at 3:16 pm

    I do not think it is anyone’s business why she applied for a 2.2 million bank loan. The problem is that it appears that yet another rich person has entrusted their finances and money management to the wrong people who are probably signing all of her checks. When is everyone going to learn, it is okay to have someone manage your money, but you really should know where every cent of your money goes and SIGN ALL OF YOUR CHECKS! DO NOT GIVE ANYONE POWER OF ATTORNEY OVER YOUR FINANCES!!!!!!

  5. montana Says:
    November 29th, 2012 at 3:22 pm

    Sometimes trusting the hands of others can change ones reputation. For years Mary has been the voice for those who needed her. Why would she mislead us now. The media is a hype man to any status rather its true or false!

  6. Ulysses Says:
    April 23rd, 2013 at 10:21 am

    If you default, you will need to pay an additional fee for extension of payment dates as well as the
    interest, which is often a bit higher in the event of low credit score loans.
    With the financial state in the world as it can be, sometimes people find themselves low on cash to pay for bills and wish
    a way to obtain cash quickly. Even after this time consuming process, there isn’t any guarantee that your loan will be approved.

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