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*Duane and Tisha Campbell-Martin have released a statement regarding news of their bankruptcy.

As previously reported, the Daily Mail reported today that the Hollywood couple are more than $15 million in debt.

The Martins say in a statement to Bossip.com that they have indeed filed for Chapter 7 – in an attempt to “reorganize” their finances:

“We got involved with some loans before the crash, couldn’t agree to a settlement with the banks, so we filed to reorganize,” —Duane Martin and Tisha Campbell Martin.