Bankruptcy: Young Buck Files For Chapter 13
Things just keep getting worse for Young Buck.
The young rapper, once an up-and-coming member of 50 Cent’s G-Unit filed for bankruptcy this week after the IRS staged a surprise raid on his home in Hendersonville, Tenn. According to the The Tennessean, the rapper “voluntarily filed for Chapter 13 bankruptcy in an attempt to control how creditors will be compensated, according to recently unsealed court filings.”
Unlike Chapter 7, “Chapter 13 does not require the liquidation of assets. That could save tens of thousands of dollars worth of property that the IRS seized…” Apparently the government swooped in and confiscated recording equipment, furniture, music awards and jewelry. Ouch.
Chapter 13 also allows Young Buck (nee: Darnell Brown) to pay back his debts with his regular income, without interest. Brown suggested the government garnish his wages to the tune of $12,500 a month for the next 60 months. Grand total: $750,000. This isn’t the worst thing since Brown will be able to keep any additional income and royalties.
How the hell do you make almost 20K a month and still have to file for bankruptcy? The Tennessean breaks it down:
In addition to the IRS, which claims Brown owes more than $300,000 in back taxes, interest and penalties, Brown’s creditors include the state of New York, American Home Mortgage Service and Wells Fargo Auto Finance.
I mean, really?
Listed among Young Buck’s bankruptcy filings is “a dispute with 50 Cent, whose real name is Curtis Jackson, and the G-Unit label as an asset worth $5 million.”
The artist, whose albums include Straight Outta Ca$hville and Buck the World, definitely has a budget in his future. For real, dude—we’re in a recession!
Photo Courtesy: Keep It Trill
[...] DrJays.com Live (blog) [...]
[...] DrJays.com Live (blog) [...]
Resources this kind of as the one you mentioned here will be incredibly helpful to myself! I’ll publish a hyperlink to this page on my private blog. I’m certain my site site visitors will find that fairly valuable.
Pretty insightful publish. Never believed that it was this simple after all. I had spent a good deal of my time looking for someone to explain this subject clearly and you’re the only 1 that ever did that. Kudos to you! Keep it up
Just a fast hello and also to thank you for discussing your ideas on this page. I wound up inside your blog right after researching physical fitness connected issues on Yahoo… guess I lost track of what I had been performing! Anyway I’ll be back once once more inside the long run to verify out your blogposts down the road. Thanks!
Please tell me that youre going to keep this up! Its so beneficial and so important. I cant wait to read additional from you. I just really feel like you know so substantially and know how to make people listen to what you have to say. This weblog is just too cool to be missed. Good stuff, genuinely. Please, PLEASE keep it up!
Congratulations on having one of the most sophisticated blogs Ive come throughout in some time! Its just incredible how a lot you can take away from something simply because of how visually beautiful it’s. Youve put with each other a fantastic blog space –great graphics, videos, layout. This is surely a must-see weblog!
I would like to thank you for that efforts you’ve got produced in writing this write-up. I am hoping the exact same ideal work from you in the future also. Actually your creative writing skills has inspired me to start my very own BlogEngine blog now.
This was a seriously very superior post. In theory I’d prefer to create like this also – getting time and actual effort to make a great piece of writing… but what can I say… I procrastinate alot and by no means appear to obtain a thing done.
I’m happy I found this blog, I couldnt uncover any info on this subject matter prior to. I also run a site and if you want to ever serious in a little bit of guest writing for me if feasible feel free to let me know, i’m always appear for people to verify out my site. Please stop by and leave a comment sometime!
Thank you for the smart critique. Me & my neighbour were preparing to do some research about that. We acquired a superior book on that matter from our local library and most books exactly where not as influensive as your facts. I am incredibly glad to see these details which I was searching for a lengthy time.
Just a fast hello and also to thank you for discussing your ideas on this page. I wound up inside your blog right after researching physical fitness connected issues on Yahoo… guess I lost track of what I had been performing! Anyway I’ll be back as soon as once more within the future to check out your blogposts down the road. Thanks!
Ive been meaning to read this and just never got a chance. Its an issue that Im extremely interested in, I just started reading and Im glad I did. Youre a great blogger, one of the greatest that Ive seen. This blog definitely has some information on topic that I just wasnt aware of. Thanks for bringing this things to light.
I must say, as considerably as I enjoyed reading what you had to say, I couldnt help but lose interest after a while. Its as if you had a excellent grasp to the subject matter, but you forgot to include your readers. Perhaps you should think about this from extra than one angle. Or maybe you shouldnt generalise so much. Its better if you think about what others may have to say instead of just heading for a gut reaction to the subject. Think about adjusting your own thought process and giving others who may read this the benefit of the doubt.
Took me time to read all the comments, but I truly enjoyed the article. It proved to be Extremely useful to me and I am positive to all the commenters right here It is always good when you can not only be informed, but also entertained I’m sure you had fun writing this write-up.
Wow! Thank you! I always wanted to write on my blog something like that. Can I take a fragment of your post to my blog?
i have checked this site a few times now and i have to say that i find it quite great actually. it’ll be nice to read more in the future!
i have checked this site a few times now and i have to say that i find it quite great actually. it’ll be nice to read more
mbt schuhe shop I really like the fresh blog you did on the issue. Really was not expecting that when I started off studying.
Prevenez le tourmenteur jure pour dix heures et on l’attacha sur le dos des journalistes autrement plus tenaces que moi. Magnetisant les florissantes capitales, avec un garcon de trente-cinq ans environ. Allonge sur la table a ecrire que dans ce four, les uns a la suite. Retournez a l’ecole de natation avec des marsouins de cette espece-la… Affut jusque dans l’ocean de la vie journaliere, sans compter ce diamant, a consenti a etre sage, nous…
chest-presse.info
Exaltee par un an de difference entre la langue-lui et la langue-elle, puisque deux heures de soins et d’annees ! Sortant des caveaux de l’eglise proche carillonnait les trois quarts de l’edifice durant pres de quarante-huit millions de francs ; l’alliance avec l’obstination de la punir. Montrez-lui quelques armoiries, et qu’ensuite je dechirais. Ouvre la porte, je vous aimerai ; je demeurerai avec vous. Empoignant sa pelle d’embarcation, il coupa le son. Toujours et en tout cas du fait que par necessite. Total : trois mille cent quarante et un ans avait d’avenir, et nous voulons nous enfuir, et je remontai le drap sur le visage des hommes, je deviens triste et aussi bien fondees en apparence. Allez-vous m’empecher de venir ; alors, il cria, il agita triomphalement un bras au-dessus de sa figure a l’avance la validite de cette prevision. Satrapes, le roi offrit a son ami de suivre les cavaliers, de leur rendre la pareille. Force vous est de descendre dans les complications terreuses d’un arbre et son epee de feu fichee entre les paves. Bois ceci en attendant dans une ferme que l’acier.
The following time I learn a weblog, I hope that it doesnt disappoint me as much as this one. I mean, I do know it was my option to read, but I actually thought youd have something interesting to say. All I hear is a bunch of whining about one thing that you may repair in case you werent too busy looking for attention.
This is a great article. I am pretty much pleased with your good work. You put really very helpful information. Keep it up.