Lisa Marie Presley Claims to Be $16M in Debt

Lisa Marie Presley claims she is $16.7 million in debt, according to new documents filed in her ongoing divorce battle with Michael Lockwood.

According to documents obtained by PEOPLE Friday, the 50-year-old claims her business manager, Justin Stiegemeyer, learned of the debt while her previous business manager, Provident Financial Management, handled her finances.

Stiegemeyer claims Presley "had not been provided with proper accountings or notices or been kept abreast of her finances" by Provident Financial. At the time they were fired, Presley had "total liquid assets of less than $20,000," according to the documents.

Stiegemeyer claims that "by the end of 2015," there were "no additional funds" aside from the liquid assets left for Presley to pay her debts. The debts "are related to unpaid income taxes" from 2012-2015, according to Stiegemeyer, which "total over $10 million."

Presley also owes nearly $50,000 in credit card debt, even after paying off an American Express debt that reached over $300,000 in October 2017. She also paid off a $111,083 Citicard debt in January. Stiegemeyer says Presley hopes to have other American Express bills paid off by September. After she pays that and legal fees, she can start paying her income tax debt, he said.

Presley also defaulted on the mortgage for a $6 million U.K. property she has been trying to sell for two years.

She is still earning a $4,361 salary from the estate of her late father, singer Elvis Presley, plus $100,000 from investments.

Presley and Lockwood married in 2006 and have twin daughters, Harper and Finley. She filed for divorce in June 2016, with Presley claiming Lockwood "took advantage" of her money.

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The filing outlining Presley's debts came in response to a year-old court order, telling her to pay $50,000 of Lockwood's attorney fees.

Lockwood was Presley's fourth husband. She was previously married to Danny Keough, Michael Jackson and Nicolas Cage. She has two other children, including model and actress Riley Keough.