Is Nelly Having Financial Issues OR is this a case of HATE?

Nelly is battling back against gossip page charges that he's dead broke and addicted to cocaine and steroids.

According to MediaTakeOut a former associate is saying that the rapper had spent all his money on drugs and ex-girlfriend Ashanti, and was close to living on the street.

The St. Louis rapper fired back at the man, identified only as "Slim," tweeting, "I know some hoping that foreclosure statement is true but I'm sorry -- EPIC FAIL! Don't nothing go in this body but fish, chicken, turkey, protein, ROZAY, ciroc, remy and Budweiser!!"