Welcome to Chapter 13 in the Scott Storch-is-broke-again saga -- today we've learned how the once-loaded music producer now has more debt than he has dollars.

Storch filed a bunch of papers in U.S. Bankruptcy Court, revealing that Scott owes $58,077.37 to 13 creditors in 7 states.

To put this in perspective, dude's net worth was reportedly $70 million in 2006.

Storch had produced music for Britney Spears, Christina Aguilera and Chris Brown. Now he has more in common with Suge Knight.

Not surprising really...no way he could sustain the life he was livin'. I can remember Dub mag with him in it and I was like...this cat gotta have a stockpile of oil somewhere in the middle east. Dudes Whips alone had to be like 2-3 million sticker price...and he was ballin like that off of producin' I mean Missy and Tim weren't even flossin like he was...and back then they were the heavy hitters in the music production game.

A lot of these cats don't realize that making 200 g's off a beat ain't really 200 g's. After taxes you looking at 100 g's not including healthcare, expenses...Dudes start making loot thinking they rich only to realize later they were baby ballers and their money wasn't as long as they thought.