YOUNG BUCK FILES FOR BANKRUPTCY

  • Wanna Join? New users you can now register lightning fast using your Facebook or Twitter accounts.
Grapes Of Wrath

Grapes Of Wrath

Sicc OG
#1
Jan 9, 2009
5,320
120
0
54
#1

NASHVILLE, Tenn. — Rapper Young Buck has filed for bankruptcy after an Internal Revenue Service raid on his Hendersonville, Tenn., home.

The Tennessean newspaper reports that a judge has accepted the rapper's proposal to dock his monthly pay from Cashville Records by $12,500 over 60 months for a total of $750,000.

The rapper, whose name is David Darnell Brown, could save a large portion of the $164,000 in property the IRS seized Aug. 3. The IRS says he owes the agency more than $300,000.

Chapter 13 filing allows a five-year repayment plan for unsecured creditors to recover part of what they are owed. Other creditors include the state of New York, American Home Mortgage Service and Wells Fargo Auto Insurance.

Young Buck's albums include "Straight Outta Ca$hville" and "Buck the World."

Information from: The Tennessean, http://www.tennessean.com
 
GHP

GHP

Sicc OG
#14
Jul 21, 2002
16,280
853
113
46
#14
Infantry Elite said:
thats what i was thinkin.


how can someone that makes $150+k a year file for bankruptcy?
Click to expand...
You'd be surprised, I collect bills for small to large business credit cards and I see appears to be ballers file BK on me all the time. He probably put alot of his money he made with G-Unit into his Cashville Records and it flopped. Heprobably would have ben straight if he didn't break away from 50.

Filing BK isn't gonna get him away from his tax problems anyhow.
 
Grapes Of Wrath

Grapes Of Wrath

Sicc OG
#15
Jan 9, 2009
5,320
120
0
54
#15
Infantry Elite said:
thats what i was thinkin.


how can someone that makes $150+k a year file for bankruptcy?
Click to expand...
rich people file for bankruptcy a lot.
they are the ones who do it most often, broke people dont have shit to protect.

he did this basically to stop the govt from seizing everything.
this way he can make payments to pay off his debt rather than lose everything to compensate.

thas how it usually goes
 
T-Rip

T-Rip

T Camp
#18
Jan 18, 2006
14,367
6,557
113
44
#18
This actually shows how fucked up the rap game is. Hes more talented then most these rappers that way more popular then him but aint getting the right kind of push, I dont even know what his label situation is at the moment. All it takes is a fallout with a industry giant and you can basically get blackballed also.
 
You must log in or register to reply here.
Top Bottom