Iggy Azalea better call up her lawyer, because Amex is comin' for that booty. According to TMZ, the Australian rapper is being targeted with a lawsuit by American Express, who claim she has racked up a debt of three hundred thousand dollars. Unfortunately for Iggy, the credit card company is looking to be paid in full. Apparently, Iggy's debt has already surpassed her preset limit by over one hundred and fifty thousand dollars. While the "Fancy" rapper has made no secret of her expensive tastes, it would seem they're coming back to bite her in her famous ass. 

Overall, it's pretty unfortunate timing for Iggy, who has been facing her own plight with her record label Def Jam Records. The rapper has previously blamed Def Jam over the myriad delays of her album Digital Distortion, which spawned the singles "Mo Bounce" and "Switch." Now, her upcoming project remains stuck in the purgatorial state of "coming soon," which doesn't bode well for Iggy. If the label continues to jerk her around, she may very well have to find another method of securing the bag. 

However, being a rapper is no excuse for frivolous spending, even though it might very well be part of the job description. TMZ makes note of Iggy's previous lavish spending habits, which include dropping twelve thousand dollars on some ice cream artwork, as seen below. Hopefully she can get her finances right, as Iggy has taken her fair share of L's in the past while. Credit card debt can be a bitch and a half, to be sure, so let's see if Azalea can put a hold on any future art purchases for the indefinite future.

As of now, there's no telling when Iggy's next single might be dropping. Perhaps Paul Rosenberg, Def Jam's newly appointed CEO, can right the ship.