Damon Dash said he pledges to pay back the millions he owes to New York state and lenders.
Dash, 42, who partnered with Jay-Z in Roc-A-Fella Records and the Rocawear business ventures, vowed to pay back the $160,000 rent he owes on a mansion in the Hudson River Valley.
He also owes $2 million in taxes to New York State, court documents indicate.
On Thursday, he appeared in Manhattan Supreme Court to fight a charge of ignoring a 2008 lawsuit from a garment industry leader who demanded payback for a $237,078 loan, the Daily News said.
Dash, who once had a $50 million empire, said he was never served papers for the lawsuit.
"It caught me off guard," he told the Daily News. "I have no credit, and no one's trying to help me, so I'm trying to do everything on my own."